Independent Exchange Services, Inc.
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How To Begin

Steps To Create a 1031 Tax Deferred Exchange with IES

1) List your exchange property for sale with a licensed real estate broker:
Disclose your intent to exchange in the listing agreement
Request buyer's cooperation in the exchange.
Avoid carrying back a note from the buyer.

2) Begin your search for replacement property:
Identify the new property no later than 45 days following the close of escrow on the relinquished (Phase I) property. Day 1 begins on the day after escrow closes.
Request seller cooperation in the exchange.

3) Open escrow on the exchange property (Phase I), and contact IES to open the exchange:
Complete your Relinquished Property - Phase I Data Sheet online, or download to mail or fax to IES.
IES will need a copy of the purchase agreement between buyer and seller and a copy of the preliminary title report.
IES will arrange a meeting with you to review your exchange and the exchange process.

4) The IES 45 day identification form:
Submit identified properties on the IES identification form.
Identification is limited to three (3) properties of any value; or any number of properties over three whose combined fair market value does not exceed 200% of the gross sales price of the Phase I property or properties; or any number of properties of any value providing that 95% of the value of the properties identified are actually acquired.

5) Notify your IES exchange coordinator as soon as you open escrow on your replacement property (Phase II):
Complete your Replacement Property - Phase II Data Sheet online, or download to mail or fax to IES.
Close escrow (on Phase II replacement) no later than 180 days following the close of escrow on the relinquished property. Remember: File your tax return (for the year in which you sell the Phase I property) after you close escrow on the Phase II property. (You will need to timely file an extension if your Phase II escrow closes after April 15

For more detail on this process, please visit
Exchange Details Page.


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