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To complete a 1031 exchange in Staten Island, 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 Staten Island, 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 Staten Island, NY. We understand that navigating a 1031 exchange…
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Staten Island is one of the five boroughs of New York City, located in the southwest part of the city. It officially became a borough in 1898. Known for its suburban feel and diverse communities, Staten Island has a population of approximately 476,000 residents, making it the least populated of all the boroughs. Despite its smaller population size, Staten Island offers a unique blend of urban conveniences and a more relaxed atmosphere.
The real estate market in Staten Island is dynamic, with a mix of residential properties ranging from single-family homes to modern apartments. The median home value in Staten Island is around $570,000, reflecting the borough's popularity as a residential area with a strong sense of community. The real estate market offers a variety of housing options, including waterfront properties, historic homes, and new developments.
Staten Island's real estate market has experienced steady growth in recent years, attracting both first-time homebuyers and those looking for a more peaceful living environment within the bustling metropolis of New York City. The borough's diverse neighborhoods, scenic parks, and access to waterfronts make it an attractive location for those seeking a balance between city life and suburban tranquility.
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.
