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Lisa Sessions
Pro Member
  • Rental Property Investor
  • New Gloucester, ME
5
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31
Posts

1031 Exchange North Carolina

Lisa Sessions
Pro Member
  • Rental Property Investor
  • New Gloucester, ME
Posted May 23 2023, 16:47

Hello

We are looking to list our duplex homes in North topsail Beach North Carolina. With the CMA the realtor just provided to us, we may have over 350k in capital gains if each home sold for about $430k. I own this property with my sister and brother-in-law. Here are my questions

Am I still able to do a 1031 exchange, if they do not do one?

Any recommendations of a qualified intermediary in North Carolina. I’m thinking of exchanging outside of NC and maybe multiple properties.

I understand I have 45 days to identify up to three properties. How would that work if I was the only one doing the exchange? Do I look for homes that equal the sales price estimates at $431k or only my portion of ownership?

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