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Updated over 9 years ago on . Most recent reply presented by

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161
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26
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Matt Smith
  • San Francisco, CA
26
Votes |
161
Posts

1031 exact timing

Matt Smith
  • San Francisco, CA
Posted

I am selling my home (property A) this coming Wednesday (closing) and then doing a 1031. In the doc I signed, I believe I check the case of something like "deferred like property". There is a high chance the new property (property B) I am planning to buy will have my offer accepted 1 day before, on Tuesday (will use the proceed of property A to buy it). Do I qualify through this transaction for the 1031? or I have to get the offer of property B accepted after closing property A in order to benefit from the tax deferred benefits of the 1031 exchange?

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