Your 1031 Exchange - The Procedure

1. Contact us to open an exchange file for you before your sale closes. We will consult you on the information we need to obtain from you.

2. Fax or email us a copy of your contract to sell your exchange property. 303.684.6899 or 1031@1031cpas.com

3. We will prepare an Exchange Agreement and other documents necessary for the exchange.

4. We will “step into your shoes” as a substitute seller by virtue of an assignment of your interest in your contract to sell.

5. We will contact and provide your closer with closing instructions. We will open a interest-bearing money market account in our name in trust for you. Your closer will be instructed to wire funds from the sale to this account. The cash will be held in this account until the purchase of your replacement property at which time the cash will be forwarded to the replacement property closing.

6. Search for suitable property to purchase for your exchange replacement property. More than one property can be purchased as replacement property

7. Provide us with a 45-day Identification Letter to identify prospective replacement properties if you have not completed your exchange during the first 45-days after closing on the sale of your exchange property. The letter can identify three prospective replacement properties or more than three if the total value of the identified properties does not exceed 200% of the value of the property that was sold. The letter is due by midnight of day 45. A signed contract to purchase replacement property by day 45 is desirable but not required by the Regulations.

8. Enter into a contract to purchase your replacement property and schedule a closing. Contact us prior to the closing. Fax or email us a copy of the contract. We will provide instructions to the closer and arrange for a wire transfer of exchange funds we are holding for you. The closer will be instructed to directly deed the property to you.

9. Your Exchange is Finished. We will provide you with an Exchange Report with copies of all exchange documents for your reference and income tax reporting.

10. See our Exchange Manual and Visit us at www.1031cpas.com