When selling your investment property with a §1031 exchange…
- …there is a 45 day identification period that starts from the date of sale, in which you must identify potential replacement properties, and a 180-day exchange period in which you must close on the new property.
- …you can identify an unlimited number of replacement properties, HOWEVER, if you identify more than 3 replacement properties, the aggregate value of those properties CANNOT exceed $10,000,000.
- …a “Reverse Exchange” is one in which you can purchase the replacement property before the sale of your investment property is complete
At Vandenberg, Inc. The Townhouse Experts™, our sole focus is selling townhouses and brownstones in New York City, NY. We are long-time experts in guiding you through the complexities of townhouse sales and purchases. View our townhouses for sale | View our townhouses for rent