1031 exchange/finding a property before closing

[David Wong]

Hi,

I've searched everywhere and cant find an answer. I am selling my investment property and have a scheduled closing for next month. I know I have 45 days to identify a replacement property "after" closing. My question is can I make offer on properties now, sign contract and schedule a closing date after my investment property closing?

Thank you. 

[Wayne Brooks]

@David Wong Yes. Even though the day after is a little tight, give yourself a couple of weeks. It is Always, I think, a good idea to have your next property at least under contract when you close on the first property.....transactions sometimes don’t close for a variety of reasons, and that would give you time to identify another property.

@foster 

@Dave Foster will have other ideas, and you might want to use him for your exchange, he’s done a few.....