1031 Exchange Rules 1031 Exchange Rules: In a 1031 exchange, the IRS sets strict time limits that you must follow to successfully defer capital gains taxes. The two key deadlines are: 1. 45-Day Identification Period You must identify the replacement property (or properties) within 45 calendar days of the sale of your original (relinquished) property. … Continued
What’s the difference between Condos co-ops and townhouses? If you’re starting your home search, you’ve probably noticed that not all properties are the same. Along with single-family homes, you’ll often see listings for condos, townhouses, and co-ops. While they may look similar at first glance, there are important differences in how they’re owned, managed, and … Continued
What is a down payment? What is a down payment & how is it applied? Your total down payment consists of what you would put down at “contract” and what you would bring to the closing table. So if you were going to put down a total 5% on a $500,000 home, you would have a total of $25,000 … Continued