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To complete a 1031 exchange in Hampton Bays, 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 Hampton Bays, 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 Hampton Bays, NY. We understand that navigating a 1031 exchange…
Learn More
Hampton Bays is a hamlet and census-designated place (CDP) located in the town of Southampton in Suffolk County, New York. It officially became a hamlet in the early 1900s when a thriving duck farm was established in the area. Today, it serves as a popular destination for tourists and residents seeking a laid-back beach town atmosphere.
As of the latest census data, Hampton Bays has a population of approximately 13,000 residents. This number swells during the summer months with the influx of seasonal visitors who come to enjoy the beautiful beaches and recreational activities that the area has to offer. The diverse community of Hampton Bays includes a mix of year-round residents, vacation homeowners, and retirees.
The real estate market in Hampton Bays reflects its desirability as a coastal community. Properties range from charming beach cottages to luxury waterfront estates. The market offers a variety of options, including single-family homes, condominiums, and vacation rentals. Prices can vary widely depending on location, proximity to the water, and the size of the property.
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.
