Updated over 4 years ago on . Most recent reply
1031 Exchange Question - Simultaneous Closing
Hello. Please advise! Do you HAVE to use a Qualified Intermediary for an exchange? I know you don't need one for a swap, but that is not my case. I am selling one property and purchasing another. I might be able to close on both on the same day. But everywhere I look, it says you MUST use a QI except for a swap if you want the IRS to allow it. Anybody have personal experience with this?
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@Dave Foster @Bill Exeter Thanks for the input. Sometimes researching stuff on Google only gets you so far. I will definitely be using a QI on this transaction.