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To complete a 1031 exchange in Purdys, 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 Purdys, 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 Purdys, NY. We understand that navigating a 1031 exchange…
Learn More
Purdys is a charming hamlet located in the town of North Salem, New York. Although it is not officially classified as a city, Purdys has a rich history dating back to the early 18th century when the area was first settled. The town of North Salem itself was established in 1788, and Purdys has since grown into a vibrant community known for its scenic beauty and friendly atmosphere.
With a population of approximately 1,500 residents, Purdys offers a perfect blend of small-town charm and modern amenities. The community is close-knit, with many local events and gatherings that bring residents together. The surrounding natural beauty of the area, including the nearby Peach Lake and Titicus Reservoir, makes Purdys a sought-after destination for those looking to escape the hustle and bustle of city life.
In terms of the real estate market, Purdys offers a mix of historic homes, modern developments, and spacious properties with picturesque views. The median home value in Purdys is around $500,000, making it an attractive option for homebuyers seeking a peaceful retreat within commuting distance of New York City. Properties in Purdys range from cozy cottages and farmhouses to luxury estates, providing a diverse selection for prospective buyers looking to settle in this idyllic corner of Westchester County.
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.
