1-2-3 Steps to Complete your 1031 Exchange

Step 1.

Fill out our simple Questionnaire and an account representative from Net Leased Real Properties brokerage will contact you to get you started. We will asses your exchange timing, equity requirement, geographic preferences and risk adversity. We can assist in locating 1031 services and financing. We are dedicated to providing the best information so you can make the right exchange decisions.

Step 2.

Net Leased Real Properties will send a detailed package with information regarding the market. Your NLRP representative will review the information with you so that you have a full understanding of the process and what is available currently on the market. After your initial review you will begin looking at specific investments from an extensive property network to meet your criteria. Once a property (ies) is selected you write what is called a Letter of Intent or LOI. This is a simple offer to purchase prepared by Net Leased Real Properties. This is where you negotiate terms of a sale. After a property is selected and negotiated you go to contract It is important that you have more than one property to Identify under the 1031 IRS Tax Code, you are limited in the number of properties that you can name and you must buy a named property.

Step 3.

Once you have made the decision to move forward you enter the contract phase. You do not have control over a property until this time. Once both parties have signed a binding agreement and opened a 3rd party escrow account you have the legal right to buy the property regardless of other offers or activity so long as you adhere to the terms of the agreement. Usually contracts have a Deposit ($25,000-$100,000) amount and an Inspection period (15-30 Days). You are provided all of the property reports, and are allowed to complete any property inspections during this period. If you decline to purchase after your review you are refunded the Deposit money. If you elect to proceed with your purchase the Deposit becomes non-refundable and is applied as a credit to the Buyer's purchase. Net Leased Real Properties will review all documents with Buyer and or Buyer's advisors. We research every site, each tenant and use our experience to evaluate the local market. We are available to make copies, assist with Lenders, and to coordinate with the escrow and 1031 accommodators. We will oversee the transaction so that the exchange is completed correctly with the right investment for your family.

1-2-3 Questionaire