1031 Exchange Process

Consult your tax preparer to be sure a 1031 exchange would be beneficial to you.
Choose your qualified intermediary (QI).
QI will communicate with your title company and prepare exchange documents.
Begin the search for replacement property.
Close on the sale of relinquished property (funds from sale are held by QI). Identify potential replacement properties (within 45 days).
Enter a contract for replacement property.
Notify QI of the purchase contract.
Close on the purchase of replacement property (QI transfers funds to complete the purchase).
Your 1031 exchange is complete!