Thank you for considering Exeter Reverse 1031 Exchange Services, LLC for your Reverse 1031 Exchange transactional needs. Our Reverse 1031 Exchange Specialists have extensive experience in working with institutional, corporate and individual Investors, especially on complex Reverse 1031 Exchange transactions.
You can also email your technical Reverse 1031 Exchange questions to Ask Exeter and one of our senior Reverse 1031 Exchange Advisors will respond within 24 hours.
The first step with any 1031 Exchange transaction, especially with more complicated transactions such as Reverse 1031 Exchanges, is to review the proposed Reverse 1031 Exchange transaction with your legal, financial and income tax advisors. Make sure that your advisors have significant experience and expertise in structuring Reverse 1031 Exchanges. Seeking competent legal, financial and income tax advice should always be an integral part of your 1031 Exchange planning process.
Review Reverse 1031 Exchange with Qualified Intermediary
Second, discuss and review your proposed Reverse 1031 Exchange transaction with Exeter Reverse 1031 Exchange Services, LLC in order to ensure there are no administrative issues that need to be addressed in the Reverse 1031 Exchange transaction such as problems with the legal title, lender or financing issues, closing and deadline related problems, etc., and to determine whether the relinquished or like-kind replacement property will be acquired and held ("parked") by Exeter Reverse 1031 Exchange Services, LLC.
Information and Documents Needed for Due Diligence and Pre-Transaction Screening
Third, provide Exeter Reverse 1031 Exchange Services, LLC with the following information and transactional documentation in order to begin the due diligence, pre-transaction screening and set-up of your Reverse 1031 Exchange:
Your complete contact information, including your full legal name, or legal name of the entity setting up the Reverse 1031 Exchange, mailing address, office or home, mobile and facsimile phone numbers, email addresses and federal taxpayer identification number, and any additional contact information that might be relevant. Provide a copy of your current driver's license, passport or other government issued photo identification. You will need to provide this information for each person involved in the Reverse 1031 Exchange.
Documents and Agreements Needed for Processing and Closing
Exeter Reverse 1031 Exchange Services, LLC will prepare all of the necessary Reverse 1031 Exchange agreements and documents on the same day that the required information is received, will order the formation of your new limited liability company (LLC) and work with the escrow or closing agent to determine what else will be necessary in order to safely complete your Reverse 1031 Exchange transaction.
Phase I Environmental Site Assessment and Inspection Report to determine whether there has been any environmental contamination of the property. This report is required if the property is zoned commercial, office, industrial, retail, agricultural, vacant land, or multi-family consisting of ten units or more. The final Phase I Environment Site Assessment and Inspection Report must be provided to the closing officer/agent and reviewed by Exeter Reverse 1031 Exchange Services prior to closing.