1031 questions

2 Replies

I am thinking about doing a 1031 exchange and I have a few questions... First, can it be legally done without a real estate agent to save money? And how? Second, can it involve my home that has an owner carry back paper? It would be my owner carry back property for a home that is owned free and clear.

Hi James,
1031 Exchanges can only be done with property held for investment, income or for use in trade or business.  So your primary residence would not qualify.  Also, Seller Carry Back Notes can be trickky with 1031 Exchanges.  The attached article helps better explain your options: http://www.exeter1031.com/seller_carry_back_financ...

If you have any additional questions Exeter would be more than Happy to assist you.  

Elizabeth Harris
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