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To complete a 1031 exchange in Somerville, MA, 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 Somerville, MA 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 Somerville, MA. We understand that navigating a 1031 exchange…
Learn More
Somerville officially became a city on January 1, 1872. It was originally established as a town in 1842 and later incorporated as a city due to its rapid growth and development. Over the years, Somerville has transformed into a diverse and lively urban community, boasting a rich history and a strong sense of community pride.
With a population of over 80,000 residents, Somerville is one of the most densely populated cities in Massachusetts. Known for its vibrant neighborhoods, cultural diversity, and rich arts scene, Somerville has become a popular choice for young professionals, students, and families looking for a dynamic urban lifestyle.
The real estate market in Somerville is competitive and diverse, offering a mix of historic homes, modern condos, and apartment complexes. The city's proximity to Boston and its excellent public transportation system have contributed to the increasing demand for residential properties. Real estate prices have been steadily rising in recent years, making Somerville a sought-after location for both homebuyers and investors looking to capitalize on the city's growing popularity.
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.
