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To complete a 1031 exchange in Normal, IL, 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 Normal, IL 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 Normal, IL. We understand that navigating a 1031 exchange…
Learn More
Normal is a city located in McLean County, Illinois, USA. It was established in 1865 and officially became a city in 1867. With a rich history and close ties to education, being home to Illinois State University, Normal has grown to become a vibrant and diverse community.
The city of Normal has a population of approximately 54,264 residents, making it the seventh-largest community in Illinois. Known for its strong sense of community and family-friendly environment, Normal offers a high quality of life with excellent schools, parks, and recreational facilities, making it an attractive place to live and raise a family.
In terms of the real estate market, Normal offers a mix of housing options ranging from historic homes to modern developments. The housing market in Normal is competitive, with a median home value of around $170,000. The city has seen steady growth in property values over the years, making it an appealing location for both homebuyers and investors.
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.
