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To complete a 1031 exchange in Farmington, NM, 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 Farmington, NM 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 Farmington, NM. We understand that navigating a 1031 exchange…
Learn More
Farmington, NM officially became a city in 1901. Situated in the northwest corner of the state, it serves as the commercial hub for the Four Corners region - an area where the states of New Mexico, Colorado, Utah, and Arizona converge. Farmington started off as a small agricultural community before establishing itself as a prominent city in the region.
The current population of Farmington is approximately 45,000 residents. Known for its diverse population made up of Native American communities, as well as Hispanic and Caucasian residents, it offers a unique blend of cultures. The city is home to various cultural events, including the annual Shiprock Fair, showcasing the rich traditions of the Navajo Nation.
Farmington's real estate market has seen steady growth in recent years. The city offers a variety of housing options to cater to different preferences, from historic homes in established neighborhoods to modern developments. With a median home value of around $200,000, Farmington provides affordable housing options compared to larger metropolitan areas without compromising on quality of life.
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.
