What is a Qualified Intermediary?

What does Exeter 1031 Exchange Services do as a Qualified Intermediary?

Exeter 1031 Exchange Services, LLC serves you in four very important roles as your Qualified Intermediary or often referred to as the 1031 Exchange Accommodator or 1031 Exchange Facilitator in the real estate industry:

1) We obtain and review copies of your purchase and sale agreement, preliminary title insurance report or title commitment, closing instructions, escrow instructions (if any) and settlement statements to ensure all are in compliance with applicable 1031 exchange codes, regulations and rulings. 

2) We prepare all of the legal documents necessary to structure your 1031 exchange transaction, including the Tax-Deferred Exchange Agreement, the Assignment, Acceptance, Notice and Direction to Convey and any other transactional documents necessary to complete your tax-deferred like-kind exchange transaction.  We will also provide you with your Identification of Replacement Property Form and we will assist you in completing your identification within the prescribed deadlines. 

3) We receive, hold and safeguard your 1031 exchange funds (net proceeds) during your 1031 exchange transaction and until you are ready to close on your like-kind replacement property transactions.

4) We are here to help you navigate through the complicated 1031 exchange code, regulations and other 1031 exchange transactional and structural requirements.  We are always available to answer any questions that you might have.