The client found Atlas 1031 Exchange on the web and discovered simple explanations and a local Midwestern presence. He felt the depth of 1031 content on the web site was a strong indication Atlas 1031 knew what they were doing. In addition, he felt comfortable reviewing the content and calling with questions. He was new to 1031 exchanges and was “scared” with someone he didn’t know holding his money.
The client’s 1031 exchange involved the sale of a residential lot for a condominimum. This was a forward exchange with the purchase occurring quickly after the sale. The replacement property sales price was slightly less than the sale price of his lot. Consequently, the funds left over were held under his social security number, in a segregated account until the 45th calendar day post closing and returned to him the next business day.
Testimonial
“I didn’t understand how the 1031 exchange process worked and was really concerned with trusting a company found on the internet. After talking with Andy, I felt comfortable given his responses and the number of exchanges he has accommodated that he was an experienced Qualified Intermediary.
Andy made it simple and easy. His explanations were simple to understand. How he explained it, is exactly how it happened. The best part about the 1031, is he guided me through each step. I didn’t use all my exchange funds for the replacement and they were returned just as he said they would be.
Andy was completely accessible and answered every question I asked without hesitation. He knows what he is doing and I will use him next time.”
Jeff McCarty
Indianapolis, Indiana
Do you have a 1031 related question? Considering a 1031 exchange and want to understand how it works for your transaction?
