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1031 Exchange Agreement First Midwest Bank Form

1031 Exchange Agreement First Midwest Bank Form

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third thing you need to understand is the timeline so when you are doing a 1031 exchange you need to sell one property and buy another property generally between 45 days for you to actually find the property that you're going to buy and or 180 days for you to actually close on that property so there's lots of ways where if you're selling a property and you sold it so basically the timer starts from when you sold it you have 45 days to find a property now if you find a property in 45 days but you don't close on it that's okay you can find another property you just have to inform that third-party company that's facilitating the 1031 exchange and you do have up to six months or 180 days to close on a property so it's not the biggest deal if you don't find one within that 45 days you can get an extension you just have to make sure that you close on a property within 180 days of closing on your first investment property before

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