If you have been working in the real estate market for quite some time, it is impossible not to have heard about the popular 1031 exchanges. These programs allow investors and businesses to achieve acquiring new properties without the need of paying a fortune on taxes. If lately you have become interested in the topic, and you wish to partake in an exchange process yourself, there are numerous details you need to inform yourself about. As you have probably learned by now, you will require an experienced facilitator to coordinate the entire swap process for you, in a way that meets all legal requirements and obligations. However, fining investment exchange services is not as easy as you would have thought, and to make a reliable choice, you should take into account the following tips:
Do your homework
First, you should be extremely well documented on the topic, in order to know what these types of services will do for you, and what you should look for. Find out what property can be exchanged with this process, what rules you need to adhere with, why is it necessary to hire a qualified intermediary, and other details of this kind. It is relevant to be informed properly on the topic, in order to proceed with your search for a facilitator, and to make the right choices. Therefore, do your homework first.
Search for options on the internet
The next step is seeing what your options are. Search on the internet and see what options the markets offer you in terms of 1031 exchange qualified intermediaries. You need to know all your options before choosing a facilitator or another. If you have several offers put at your disposal, you can compare them, and choose the most convenient and beneficial one for your situation. After narrowing down your choices to only a few options you can move to the next step.
Reputation and testimonials
Lastly, to figure out if a company is worth your trust, you need to find out what kind of reputation they have built for themselves in this industry. For how long has the facilitator been providing these services? Are they experienced enough? What kind of image have they created for themselves? You can request a few client references, or search for some testimonials, to see if all their previous collaborations have went well, and if their clients were completely satisfied with the level of service quality received. Once you gain all the details you need, you can make a choice without having any worries.
Because collaborating with a qualified intermediary for your property exchanges is necessary, you need to be 100 percent sure that you are receiving the best services, and that implies paying attention to the few aspects mentioned above. With the right facilitator by your side, the exchange process can go faster than you would have expected, and you will not face any inconveniences, on the contrary, you will manage to get the property you desire, while deferring taxes.