Chris Kim was referred to Atlas 1031 Exchange by his Realtor to accommodate the 1031 exchange of vacant land for a rental property in different cities in Texas. The old or relinquished property was sold and the exchange proceeds were wired to an escrow account established under his tax identification number in Leesport, Pennsylvania with VIST Bank. Chris identified a couple of properties as potential replacement property by the 45th calender day post closing. After negotiating the purchase contract for rental property, the closing was held and the exchange proceeds were wired the day before the closing.
The exchange went smoothly allowing the capital gains to be deferred and replacement property acquired before the 180th calendar day.
“Andy made the exchange an easy process. At first, I was hesitant of working with someone I hadn’t met. But with each conversation, he answered all of my questions and did what he said he would. I found him patient, proactive in making me aware of decisions to be made in advance of the time lines. I hope to work with Andy and Atlas 1031 Exchange again and happily refer them to anyone who could use their fine services.”
Chris Kim
Houston, Texas
