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1031 Exchanges

When you're ready to sell your current investment property and replace it with a new one, discover how qualified intermediary Martin Burns can facilitate the transaction.

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The 1031 Exchange Process

A successful 1031 tax exchange requires two key elements: the exchangor (the property owner) and the qualified intermediary (a professional facilitator). A transaction typically involves the following steps:

  1. The property exchangor assigns the sale contract to a qualified intermediary.

  2. The buyer receives the existing property directly from the exchangor.

  3. The exchangor's funds are held by the qualified intermediary.

  1. The exchangor identifies a potential replacement property within a period of 45 days.

  2. The exchangor assigns the purchase contract to the qualified intermediary.

  3. The qualified intermediary funds are used to purchase the new property within 180 days of the relinquished property's closing.

  4. The exchangor acquires the new property directly from the seller.

Learn more by contacting Martin Burns in Tacoma, WA.

Get the Guidance of a true professional

When it comes to real estate tax procedures, it's easy to get overwhelmed. The 1031 tax exchange process is no different. Luckily, a Tacoma attorney is ready to help you avoid hefty capital gains taxes on your investment properties. Start working with Burns 1031 Tax Deferred Exchange Services, LLC today.

Attorney Martin Burns has the experience and industry knowledge you want on your side during your transaction. For over two decades, he has been assisting the people of Washington in their 1031 exchanges. His attention to detail is unmatched, reviewing your transactional documents to ensure you're on track toward your desired outcome.

As a property owner or real estate investor, you deserve to reap the benefits of your investment successes. Don't let federal taxes deplete the rewards of your hard work. Reach out to Martin Burns to find out if a 1031 exchange is right for you. Whether you're looking to convert a rental property or consolidate properties, he is ready to advise you.

With his combined background in accounting, law, and exchange services, Martin Burns is the powerhouse professional you need during a 1031 exchange. From his office in Tacoma, Washington, he works with clients in the neighboring cities of Seattle, Bellevue, and Olympia, as well as clients from most other states. Contact him today to request a free consultation.