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To complete a 1031 exchange in Portsmouth, RI, 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 Portsmouth, RI 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 Portsmouth, RI. We understand that navigating a 1031 exchange…
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Portsmouth, RI, originally founded in 1638, is a charming coastal town located in Newport County. It officially became a city in 1930, making it one of the oldest municipalities in the state. With a rich history dating back centuries, Portsmouth offers a blend of historic sites, picturesque landscapes, and a tight-knit community that attracts both residents and visitors alike.
As of the latest census data, Portsmouth, RI, has a population of approximately 17,000 residents. The city's population has experienced steady growth over the years, with many individuals drawn to its idyllic setting, excellent schools, and recreational opportunities. The diverse population of Portsmouth contributes to a vibrant community, where local events and cultural activities thrive, creating a welcoming environment for all.
In terms of the real estate market, Portsmouth offers a range of housing options, from historic colonial homes to waterfront properties with stunning ocean views. The real estate market in Portsmouth is competitive, with a mix of single-family homes, condominiums, and luxury estates available for sale. The city's prime coastal location and quality of life make it a desirable place to live, leading to a robust real estate market that caters to a variety of preferences and budgets.
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.
