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Managing Real Estate Broker - Keller Williams Northland
Real estate topics on better business performance, education, advanced techniques for selling/buying residential, commercial and investment real estate; 1031 tax deferred exchange, licensing; anecdotes and stories to ponder.

ARCHIVED BLOG POSTS

2008 

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Definition of a Disqualified Person for a 1031 Excahnge:Any agent of the taxpayer - within the past two years. The agent of the taxpayer at the time of the transaction is a disqualified person. A person who has ated as the taxpayer's employee, attorney, accountant, investment banker or broker, re...
03/24/2008

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Who may be an Accommodator in a deferred exchange.  A qualified accommodator is:Not the taxpayer or a disqualified personActs to facilitate a deferred exchange by entering into a written agreement, and is required by the exchange agreement to acquire the relinquished property from the taxpayer, t...
03/24/2008

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Safe arbor Rule #3 - Qualified Accommodators Deferred exchanges are permitted to be facilitated by the use of a qualified intermediary if the taxpayer's rights to receive the money or other property held by the accommodator are limited by the previously discussed Rules 1 and 2.In this case the qu...
03/24/2008

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Safe Harbor Rule #2 - Cash put into qualified escrow accounts  The exchanger may require that the buyer deposit the cash (or equivalent) into a qualified escrow account or trust, without the exchanger being considered as being in constructive receipt of the money.A qualified escrow account is one...
03/24/2008

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Safe Harbor Rule #1The Buyer, not Seller, continues to hold the money with a security or guarantee arrangement.  The Exchanger transfers property to buyer and secures the promise to transfer the required funds by one or more of the following collateral arrangements:A  mortgage or trust deed or ot...
03/24/2008

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 BATAVIA, ILLINOIS The table below lists all of the currently active single family detached and single family attached homes in  Batavia, IL. Data includes  high, low, median and average prices. For detailed information on a property type within a price range, including virtual tour when availabl...
03/24/2008

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Property being received in a 1031 exchange doesn't have to be finished.  There is no extension of the 180 day time period rule for property being constructed. If not completed at time of receipt, the end product must be substantially the same as originally identified.You can extend the 180 days t...
03/24/2008

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HANOVER PARK, ILLINOIS The table below lists all of the currently active single family detached and single family attached homes in  Hanover Park, IL. Data includes  high, low, median and average prices. For detailed information on a property type within a price range, including virtual tour when...
03/20/2008

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 DARIEN, ILLINOIS The table below lists all of the currently active single family detached and single family attached homes in  Darien, IL. Data includes  high, low, median and average prices. For detailed information on a property type within a price range, including virtual tour when available,...
03/19/2008

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 WARRENVILLE, ILLINOIS The table below lists all of the currently active single family detached and single family attached homes in  Warrenville, IL. Data includes  high, low, median and average prices. For detailed information on a property type within a price range, including virtual tour when ...
03/18/2008
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