Have you done a 1031 exchange? Did you check out the qualified intermediary?
Dennis Norman
By: Dennis Norman
I personally have only done a couple of 1031 exchanges and it has been several years since the last one, but I will admit I did not do any due diligence when selecting the qualified intermediary. Like many people, I went with the company that was recommended to me by the title company I was doing business with.
I was in a rush to get the paper work all completed before the sale of my investment property closed so everything was handled via email and fax. I never met the person I was dealing with at the firm nor did I do any due diligence on him or his company. It wasn’t until after the sale closed and the (my) proceeds were given to the intermediary that it finally hit me that I was giving this company a lot of cash to “hold for me” until I found another Read more…
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