Is it possible to trade 2 properties for one? If so how does it work

Stacey
Both Buyer and Seller
New Jersey

Answers (3)
Mary Ann Jarvis
Agent
08203

1031 Corp is one of the companies that can help you. You have to qualify for this type of exchange though.
If you need to know if you qualify for the exchange, I have an information pamphlet on these types of exchanges.

If you do not qualify for this 1031 exchange, you can sell the 2 properties outright to purchase the one property

Please feel free to contact me for more information

Best Regards,

Mary Ann

Mon Nov 17 2008, 06:48
St. Lawrence Pr...
Broker
New York

Hi Stacey,

What kind of properties are these? "trading" Real Estate is done all the time under a 1031 Exchange with the benefit being that the taxes on the sale (exchange) of the property are deferred.

However, 1031 Exchanges need to follow strict guidelines and monies must be held by an agent knowledgeable in 1031 exchanges. Not your Real Estate agent or attorney!

Sun Nov 16 2008, 09:52
Ageliki Christo...
Agent
Fairview, NJ
FIRST ANSWER

Stacey

Let me try to understand your question. You want two sell two properties as one. This will be a contigency clause meaning that you need to clarify if a person is interested in the one property they will need to purchase the other at the same time. This makes the house pretty much harder to sell unless you mean that (If you buy this house you get the other house) which is an incentive and makes it alot easier to sell.


Thanks
Angie Christodoulakos
Century21 Maria Realty

Sun Nov 16 2008, 09:18

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