Your Trusted 1031 Escrow Service Provider
Introducing Vista 1031 exchange service.
What is a 1031 Exchange?
Basically, a taxpayer sells a property used for business or investment to exchange for another property also for use in business or investment. When transacting an exchange, the taxpayer never receives nor controls the funds from the sale of their property. The funds are directly used to purchase the replacement property. Because the taxpayer never actually gains the proceeds from the sale, they may
defer the tax they would pay if they simply sold a property and kept the money.
Section 1031 of the tax code:
“allows owners of qualified real estate to sell the property without paying taxes on the gain from the sale, as long as the sale proceeds or exchange value is used to acquire like-kind replacement property for investment or business uses.”
Why choose Vista?
Vista provides solutions in Title Insurance, Escrow Closings, Contract Servicing, and 1031 Exchanges.
Offering multiple locations and having experts with decades of experience in various facets of real estate transactions makes us uniquely qualified to assist in one of the most significant transactions of one’s lifetime.
Our team ensures consistent communication throughout the life of the transaction to keep all parties up to date on modifications and the account status.
Experience a smooth and thorough transaction with our team, which is dedicated to delivering an unparalleled customer experience. Really.
What kind of property is eligible?
Nearly all real property used for business or investment is considered to be “like-kind” to all other real property.
- Single or Multi-family Rentals
- Office Buildings
- Apartment Buildings
- Shopping Centers
- Farm & Ranch Land
- Vacant Land Held for Investment
- Billboard Sites
- Hotels & Motels
- Cell Tower Sites
- Warehouses
Tips for a successful exchange:
- If you want to begin a forward exchange, start looking for your replacement property as early as possible.
- You can stretch out this extra period by delaying the close date on your relinquished property, preventing your 45-day countdown from starting.
- If you have already identified a property you would like to purchase but have not been able to sell your current property, consider a reverse exchange. That way, you will ensure your purchase and have 180 days to sell the old property.
- To avoid unwanted delays that may cut your 1031 exchange timeline short, ensure your financing is in order before entering into an exchange agreement.
We are proud to offer intermediary services.
Sell vs. Exchange
When investing in real estate, careful consideration is given when selecting what types of properties to include in your portfolio. Likewise, the same consideration should be given when moving from one property to another. Allow us to help you take advantage and grow your portfolio faster with a tax–deferred exchange.
How a 1031 Works
Step 1: While contemplating the sale of an investment property, contact us regarding Vista 1031 to set up your exchange.
Step 2: Enter into a sale agreement, open escrow, and name us your exchange facilitator on the agreement.
Step 3: Identification Period
Step 4: Finalize Exchange
Step 5: Enjoy a fully tax–deferred exchange