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To complete a 1031 exchange in Far Rockaway, 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 Far Rockaway, 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 Far Rockaway, NY. We understand that navigating a 1031 exchange…
Learn More
Far Rockaway, a neighborhood located in the southeastern part of the Queens borough in New York City, was established as a city in 1898. It boasts a rich history and diverse community, with influences from various cultures and backgrounds. Over the years, Far Rockaway has evolved into a vibrant and welcoming place for residents and visitors alike, offering a unique blend of urban amenities and beachside charm.
Currently, Far Rockaway is home to approximately 50,000 residents, making it a relatively small but tightly knit community within the expansive city of New York. The neighborhood's population is characterized by its cultural diversity, with a mix of ethnicities, languages, and traditions contributing to its dynamic and inclusive atmosphere. Residents of Far Rockaway enjoy a close-knit community feel while still having access to the wider cultural and economic opportunities of the city.
In terms of the real estate market, Far Rockaway has seen significant development and investment in recent years, with a growing demand for residential properties in the area. The neighborhood offers a wide range of housing options, from historic single-family homes to modern apartment complexes, catering to different preferences and lifestyles. With its proximity to the beach and its convenient access to transportation and amenities, Far Rockaway has become an increasingly popular choice for homebuyers looking for a dynamic and affordable urban living experience.
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.
