If you’re looking into conducting a 1031 exchange with your property, you’ve likely heard about qualified intermediaries and how they can help facilitate exchanges. One of the first questions investors ask themselves before diving into a like-kind exchange is: “why should I hire a qualified intermediary?” We’ll answer that question here and explain the many benefits of a qualified intermediary. If you are looking to exchange your property under section 1031, contact our Fargo qualified intermediaries today 877.373.1031.
Benefits of a Qualified Intermediary
There are many reasons why it’s a good idea to have a qualified intermediary by your side throughout your 1031 exchange.
- Preparing Documents. There are a handful of documents that you need to prepare for your exchange to make sure everything is in order. Your qualified intermediary can prepare all of these documents for you so you can focus on more important matters.
- Answering Questions. Investors often have a lot of questions about the 1031 process, how they should handle things, and what properties qualify. Your intermediary can answer all of these questions.
- Insulating You From Receiving Proceeds. In a 1031 exchange you want to make sure that you do not take receipt of any cash proceeds from the sale of your relinquished property. Your intermediary can insulate you from receiving these funds, and safeguard them until you are ready to reinvest in your replacement property.
These are just a few of the many great benefits of having a qualified intermediary on hand to help you with your like-kind exchange of real property.
Fargo 1031 Qualified Intermediaries
Our Fargo qualified intermediaries have been helping investors in North Dakota and across the country with their like-kind exchanges for decades. We have the knowledge and experience needed to help you through every step of the exchange process. Give us a call today to speak with a Fargo 1031 intermediary about your exchange 877.373.1031.