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1) List your exchange property
for sale with a licensed real estate broker:
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Disclose your intent
to exchange in the listing agreement |
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Request buyer's cooperation
in the exchange. |
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Avoid carrying back a note from
the buyer. |
2) Begin your search for replacement
property:
3) Open escrow on the exchange
property (Phase I), and contact IES to open the exchange:
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Complete your Relinquished Property - Phase I Data Sheet online, or download to mail or fax to IES. |
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IES will need a
copy of the purchase agreement between buyer and
seller and a copy of the preliminary title report. |
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IES will arrange
a meeting with you to review your exchange and the
exchange process. |
4) The IES 45 day identification
form:
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Submit identified properties on the IES
identification form. |
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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):
For more detail on this process, please visit
Exchange Details Page.
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