for your replacement property as soon as possible. You can go under contract on your replacement property before the sale of your relinquished property so long as the closing on your sale is before the closing on the purchase. Many exchangers obtain contingencies for unexpected delays.
to use our calculator to estimate your reinvestment target prior to the closing of your sale and verify your actual reinvestment target after your sale using the settlement statement and your own tax records.
of the successful closing of your sale and/or receipt of proceeds, we will send you an email indicating your 45 and 180 day deadlines. You will also receive a reminder email three days in advance of your 45 day deadline and two weeks in advance of your 180 day deadline.
you may mail, email, fax or hand-deliver your signed replacement property identification form within your 45 calendar day identification period. Click below for Part 1 and Part 2 of our video series on the 45 day identification list rules.
your real estate agent and escrow or closing agent that you are completing a 1031 Exchange and seek to include assignability or Cooperation Clause language in your Purchase and Sale Agreement and/or Escrow Instructions (example below).
Earnest money wire requests take three FULL business days to fulfill from the time email@example.com receives your amount requested, contract and wire instructions. Please plan accordingly.
firstname.lastname@example.org of your pending purchase by email along with the property address, the name and email address of the closing agent and the anticipated date of closing. Document preparation takes three full business days for replacement properties. There is a $245 rush fee to accelerate this.
on our document request from the closer and the provision of our exchange documents.
a final review of the closing/settlement statement with your legal and tax advisors prior to closing. Identify which of the anticipated closing costs are allowable within your exchange and plan accordingly.
we will provide just prior to closing, you will need to give us specific direction regarding the amount to send to closing AND countersign a wire transfer form authorizing the transfer of those funds out of your Fortis exchange account. We will provide the wire transfer form and you will need to enter the amount you want us to send. If you are unsure of the available funds, simply email a request for an updated account statement to email@example.com. The amount you enter must not exceed the balance in your exchange account and must match your settlement statement.
of your closing, Fortis Private Bank will send an email confirming the transfer of funds you authorized.
includes one replacement property transaction. Additional purchases under the same exchange are $250, added to the settlement statement as part of closing.
will happen after your regular tax filing deadline, you will need to file an extension to preserve your entire exchange period.
on all replacement property within 180 days.