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Selling property and 1031 exchange
Hi All,
I am thinking to sell my old property. For example if my property sells for 300k I have to pay 6% to realtor which leaves me at 282k. Out of 282k how much taxes I have to pay right away and how much taxes I have to pay during end of tax year time. Any other closing costs or fees or charges I have to consider. Any way I can save these costs or fees or charges. I like to sell this property 'as is' to avoid any potential issues in future. How does 1031 exchange works. How to sell this property in 1031 category and buy other property ? How many days I get to purchase other property. I never did 1031 exchange so far. Please advise