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To complete a 1031 exchange in Buffalo, NY, you must work with a qualified intermediary to hold your funds and sign an agreement. At 1031 Nationwide, we can provide the expertise and support you need to ensure a successful exchange.
To participate in a 1031 exchange, you must first sell your existing property, which is known as the “relinquished property.” All deadlines for the exchange process are based on the closing date of the relinquished property, not the contract date.
Once you’ve sold your relinquished property, the next step in a 1031 exchange is to identify potential replacement properties to buy. This is a crucial step in the exchange process, and it must be completed within 45 days of the sale of the relinquished property.
The final step is to purchase the replacement property within 180 days of selling the relinquished property. This six-month window allows you to find and close on a suitable replacement that meets your investment goals and the exchange requirements.
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At 1031 Nationwide, our mission is to help you achieve your investment goals, while minimizing your tax liabilities and simplifying the 1031 exchange process. We understand that navigating a 1031 exchange in Buffalo, NY can be complex and time-consuming, but with our expertise and experience, we can guide you every step of the way.
Our team of qualified intermediaries has helped countless investors across the country successfully complete their 1031 exchanges, unlocking new opportunities for growth and financial freedom. We offer personalized guidance and support throughout the entire process, from identifying potential replacement properties to closing the deal.
At 1031 Nationwide, we understand that completing a 1031 exchange can be a complex and daunting process. That’s why we offer a range of services to simplify the exchange process and help…
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At 1031 Nationwide, we are dedicated to helping real estate investors grow their portfolios and achieve their financial goals through 1031 exchanges. We understand that navigating the complexities…
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At 1031 Nationwide, our mission is to help you achieve your investment goals, while minimizing your tax liabilities and simplifying the 1031 exchange process in Buffalo, NY. We understand that navigating a 1031 exchange…
Learn More
Buffalo, NY, founded in 1801, officially became a city on April 20, 1832. Located on the eastern shore of Lake Erie, Buffalo is the second-largest city in New York State. Known for its rich history and vibrant culture, the city serves as a major gateway for commerce and travel between the U.S. and Canada.
As of the latest census data, the population of Buffalo, NY, stands at approximately 261,000 residents. The city boasts a diverse demographic profile, with a mix of different ethnicities and cultures contributing to its energetic and inclusive atmosphere. Buffalo's population has shown growth in recent years, driven by its affordable cost of living and varied employment opportunities.
Buffalo's real estate market offers a mix of historic buildings and modern developments, catering to a range of preferences and budgets. The city's housing market is characterized by competitive pricing and a steady demand for properties. Neighborhoods like Elmwood Village and North Buffalo are popular choices for residents seeking a vibrant urban lifestyle, while areas like Allentown and Delaware District appeal to those looking for historic charm.
We have worked with various companies, just a few we have partnered with. You can be assured that your 1031 Exchange will be handled appropriately.
