Why 1031 Buyers Are Attracted To Off-Market Transactions

When it comes to a successful 1031 exchange, one factor overshadows all others – time. In order to stay within strict IRS rules related to such transactions, the buyer seeking to replace his or her property must identify replacement property within 45 days and close on the transaction within 180 days. Missing either of these deadlines by even one day is enough to jeopardize the entire transaction.

Which is why 1031 buyers are often attracted to off -market properties. By searching for those properties not readily known to the entire pool of potential buyers, the 1031 buyer can avoid a competitive process. Yet for many 1031 buyers, finding these unlisted properties is an insurmountable obstacle.

But it doesn’t have to be. By working with a real estate professional who has a strong background in 1031 exchanges, a superior knowledge of local assets, and a strong network of relationships with real estate professionals in other markets, as well as property owners both locally and nationwide, off-market properties can be readily identified and pursued.

With this type of insider knowledge, the broker is able to help a 1031 buyer find an unlisted property and comply with the 45 day identification rule, as well as closing within 180 days.

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