Fishers Island, NY 1031 Exchange eBook

The Basic Principles Of A 1031 Exchange

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Simple Steps to Guide You with Your 1031 Exchange in Fishers Island, NY

Choosing A Qualified Intermediary

To complete a 1031 exchange in Fishers Island, 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.

Dispose Of Current Property

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.

Determine New Property For Exchange

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.

Finalize Purchase Of Replacement 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.

1031 Exchange News in Fishers Island, NY

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1031 Exchanges in Fishers Island, NY

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 Fishers Island, 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.

Qualified Intermediary Fishers Island, NY
Why Choose Us

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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Dispose of Current Property in Fishers Island, NY
How It Works

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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New Property for Exchange in Fishers Island, NY
About Us

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 Fishers Island, NY. We understand that navigating a 1031 exchange…

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 Fishers Island, NY 1031 Exchange Replacement Property

Fishers Island, NY: A Hidden Gem

Fishers Island is not a city but a census-designated place located in Suffolk County, New York. It covers a land area of 4.1 square miles and has a rich history dating back to the 17th century, making it one of the earliest settlements in the region.

As of the latest census in 2020, Fishers Island has a population of approximately 236 residents. This small, close-knit community offers a peaceful and serene quality of life, attracting those seeking a quiet retreat or a second home away from the hustle and bustle of the city.

Real estate in Fishers Island is characterized by luxurious waterfront properties, charming cottages, and expansive estates. The market features a mix of historic homes and modern constructions, often boasting stunning views of the Long Island Sound. Prices range from a few hundred thousand to several million, catering to a diverse range of buyers looking for a slice of paradise.

Some of the Companies that have Referred Us Business

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.

Fishers Island, NY TDRealty 1031 Exchange Partner
Fishers Island, NY Century 21 1031 Exchange
1031 Exchanges for Coldwell Banker Fishers Island, NY
Better Homes 1031 Fishers Island, NY
ERA Fishers Island, NY 1031 Exchanges
Assist2Sell 1031 Fishers Island, NYAssociate