It’s best to plan ahead for your 1031 Tax Deferred Exchange, that way you don’t need to “settle” just to avoid the taxes.
Recently, I helped a client avoid what could have been a $60,000 tax bill by completing a 1031 exchange.. on a property they thought would never sell! The negotiations for their sale took years, literally, but when it finally happened, it was almost overnight! I helped them plan out their properties and timeframes, so they would be sure they weren’t scrambling at the end.
Once they knew the timeframes involved, we were able to set up the process so it was almost seamless. I helped them take one sale, turned it into 2 income producing properties with much higher rents than before, and they never had to “settle” at the last minute to get it done… as can sometimes happen when you’re under the wire for the 1031 deadlines.