Working with a qualified intermediary is perhaps the best thing you can do to ensure the success of your 1031 exchange. But it can be difficult to determine the quality of a given intermediary. In this article, we are going to discuss a few important qualities that make a great qualified intermediary.
Experience
When you’re looking to hire any professional, it’s important to consider their level of experience. This is true when hiring a plumber to fix your toilet, an accountant to do your taxes, or a qualified intermediary to facilitate your 1031 exchange. You want to make sure that your qualified intermediary has a good amount of experience facilitating 1031 exchanges.
Expertise
In addition to experience, you want to make sure your intermediary has the right expertise. Has your intermediary facilitated exchanges in your area (the state or city in which your property is located)? Have they conducted exchanges on this type of property before (apartment buildings, hotels, retail, etc.)? These are all important considerations as each location and industry can have its own unique hurdles.
Excellence
You also want to work with a qualified intermediary who provides excellent service to their clients. A good way to figure this one out is to look up client reviews of the intermediary and see if they are well regarded by their peers.
Save Money with a 1031 Exchange
If you’re thinking about saving money with a 1031 exchange, you’ve come to the right place. Contact the qualified intermediaries at CPEC1031, LLC today to start your exchange. Our intermediaries have over two decades of experience working with clients on all sorts of 1031 exchanges. We put that experience to work for all of our clients to ensure successful like-kind exchanges, no matter what type of property you’re buying or selling.
Start Your 1031 Exchange: If you have questions about 1031 exchanges, feel free to call me at 612-643-1031.
Defer the tax. Maximize your gain.
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