Updated almost 3 years ago on . Most recent reply
tenant wants to buy/1031
I own a condo, value approx $700K. Tenant paying $3500/mo, wants to buy the property. So far all good news - I will have to 1031 the gains from this sale into something else, ideally a tri/quad outside of CA. Question - how to prolong/extend the escrow until I find the target propert(ies) for my end of the sale? Thanks for info/insights/suggestions!
Most Popular Reply
You may know this, but the 45 day clock to identify starts after your sale closes. With a 60 day escrow period that gives you 105 days from now to get it done. If they are mostly concerned about rising rates, your own idea of paying for an extended rate lock is worth a shot!