1031 Exchange Companies in Arizona
1031 Basics: Selling an Arizona Property Held for AZ Investment?
One of the most important things to do whenever you are selling an Arizona property held for AZ investment or used in an Arizona business is to first discuss your transaction with your tax and/or legal AZ advisors before closing on the sale. After speaking with a tax advisor, many Arizona real estate investors may be surprised to find the total taxes they would owe on their sale can be considerably higher than expected.
To learn about the first steps needs to initiate a new 1031 exchange…
WHAT’S THE FIRST STEP? |
SALE OF RELINQUISHED PROPERTY “Buyer is aware that Seller intends to perform an IRC §1031 tax deferred exchange. Seller requests Buyer’s cooperation in such an exchange and agrees to hold Buyer harmless from any and all claims, liabilities, costs, or delays in time resulting from such an exchange. Buyer agrees to an assignment of this contract to ________ by the Seller.” PURCHASE OF REPLACEMENT PROPERTY “Seller is aware that Buyer intends to perform an IRC §1031 tax deferred exchange. Buyer requests Seller’s cooperation in such an exchange, and agrees to hold Seller harmless from any and all claims, liabilities, costs, or delays in time resulting from such an exchange. Seller agrees to an assignment of this contract to ________ by the Buyer.” |
For more information on the New Capital Gain Taxes, call us. Please feel free to contact us and we can provide you with additional Arizona 1031 Exchange information to guide you through the Investors Defer process in AZ. We look forward to hearing from you and working with you soon!
Our best,
Carl Pepper, Realtors®
info@MyOwnArizona.com
www.MyOwnArizona.com
Tucson: (520) 822-6575
Phoenix: (480) 382-9191
Featured potential 1031 Tax Exchange Listing: 7530 Placita Ventana Hayes Tucson, AZ 85750