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To complete a 1031 exchange in Sound Beach, 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 Sound Beach, 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 Sound Beach, NY. We understand that navigating a 1031 exchange…
Learn More
Sound Beach is a hamlet located on the North Shore of Long Island in Suffolk County, New York. It was first settled in the early 20th century, but was mainly developed in the 1950s and 1960s. While Sound Beach is often referred to as a city, it is actually a part of the town of Brookhaven.
As of the most recent census data in 2020, Sound Beach had a population of approximately 7,612 residents. The community is known for its quiet neighborhoods, proximity to beaches, and strong sense of community. Sound Beach offers a peaceful suburban lifestyle while still being within easy reach of the amenities of nearby towns and cities.
The real estate market in Sound Beach is characterized by a mix of single-family homes, ranging from cozy cottages to larger modern properties. The median home value in Sound Beach is around $300,000, making it an attractive option for first-time homebuyers and families looking for affordable housing options in a scenic coastal setting.
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.
