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To complete a 1031 exchange in Chesapeake, VA, 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 Chesapeake, VA 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 Chesapeake, VA. We understand that navigating a 1031 exchange…
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Chesapeake, VA was established as a city in 1963, making it one of the youngest cities in the Hampton Roads region. It was formed by the merging of the city of South Norfolk and the rural sections of Norfolk County. This strategic move aimed to foster growth and development in the region and has since paved the way for Chesapeake to become a thriving city.
With a current population of approximately 240,000 residents, Chesapeake offers a perfect blend of suburban and rural living. The city's diverse neighborhoods cater to a wide range of preferences, from waterfront properties along the Intracoastal Waterway to spacious homes nestled in peaceful, tree-lined communities. This variety attracts families, professionals, and retirees alike, creating a vibrant and inclusive community.
The real estate market in Chesapeake is dynamic and competitive, reflecting the city's desirability. From cozy single-family homes to luxurious estates, there is a housing option to suit every taste and budget. With a steady demand for housing and a strong local economy, Chesapeake provides excellent opportunities for both buyers and sellers. Whether you're looking to settle down or make an investment, Chesapeake's real estate market has something for everyone.
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.
