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That advice comes from "inactive" ActiveRainer James Brennan, a 1031 Exchange facilitator I met through 
I won't repeat every word here, for the sake of SEO, but please click on 
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11 Comments on Swap 'Til You Drop!
Wow, I hope you are friends! Seems like a nice guy and I am a bit confused about the beef. Social media downers are everywhere. They are selling reports about maximizing SEO without SM, but we know here that it works. So let them lie in their mud and get out when they are ready..
I'll have to check out your blog Margaret. I know this social media stuff pays great rewards, but honestly I'm on overload trying to keep up with clients and invitations to a new site every day. Busy is good though, so I'm not complaining... even if it sounds like it. haha
1031 exchanges are a tricky subject. Good work calling in the experts for the correct answers Margaret!
Hi Margaret,
I've worked with one 1031 exchange and my advice is make sure both clients have legal advice.
I have completed a few 1031's but recently I haven't had the occasion. Thanks for the reminder I might call a few investors.
Terry - I'm in the same boat, and I welcomed this input from someone who deals with them every day.
Cynthia - Unless I'm mistaken, it doesn't affect the other party of the transaction in any way. Am I missing something here? James, if you're reading this, could you weigh in?
Bill - While I've done these, I welcome the expert advice and think it's worth noting that it all started with Link
Jesse - I hear yah! I'm not a frequent participant, but I try to check in a couple times a week for a minute or two. While I appreciate it's value, the bottom line is that it's all about doing business!
Julie - Thanks for commenting, although I'm not sure exactly what you're saying. LOL.
Margaret- That is fantastic, having him as a guest blogger. Guest bloggers are a great way to build a more heavy contending content rich blog and engage readers.
I've personally done three 1031 exchanges. I just finished one for a client who was selling property in CA and bought a property in VA. Once you figure out the rules it is a fairly easy process.
Question: "Unless I'm mistaken, it doesn't affect the other party of the transaction in any way. "
Answer: There are a lot of misconceptions out there that an exchange has to involve a "deed swap" or find a buyer who wants to do a swap himself. All untrue. When a seller puts his property on the market he can decide "mid-stream" it is going to be involved in his or her own personal like-kind exchange. Prior to settlement about 50% of our clients add language to the purchase agreement that the sale will be part of a 1031 exchange. The NOTICE of assignment addendum in our files does have a place where the buyer attests that the seller is not "taking control of his or her proceeds". This substantiates the seller's case when saying to the IRS, "I complied with the safe harbor and gave my money to a qualified intermediary and did not put it in my own personal bank account along with my savings." Long-winded answer to your question, but the short version is the buyer is not impacted but kind of resembles a witness in the transaction saying "that guy didn't take a check away from settlement". Also the Seller's name at settlement should appear ES Group, Qualfied Intermediary for Jane Doe, not just Jane Doe. This again assures the use of the Safe Harbor under the regulations.
James - Thank you for answering the question. In my Exchange transactions, it did not impact the other party in any way other than signing documents at settlement to assure the sellers' proceeds were being properly allocated, as you say. We have wording in our "standard clauses addendum" that simply informs the other party at the time of contract that this is or may be a 1031 exchange on the part of one party to the contract.
Yes, and for local agents an addendum is on "ZipForms"