When it comes to getting real estate sold in and around the Gainesville, Ga. area, there are many options available to buyers and sellers. There are many exchanges out there, but not all of them are created equal. So before you jump into any purchase, make sure you know what is involved with each exchange and what the company,s specific services and prices are. This will help you make the best decision possible regarding the sale of your home or business. Here are some points to consider:
What is aces or acreage? If you want to get more specific about an exchange, here is a good starting point: An aces is an acreage. So if you are selling real property, acreage is basically how much land you are talking about. An aces is different from an acre. Some exchanges are like a kind of acreage, where others are more like an entire field. What is a qualified intermediary? A qualified intermediary is a third party who acts as a connecting link between you (the seller) and the buyer (the buyer,s agent). Usually, a qualified intermediary will make a commission based on the money that is made by the sale of the real property. In exchange for this service, the 1031 exchange companies agree to charge a fee to the seller.
What is the standard exchange? The 1031 exchange companies typically have one set of rules when it comes to setting the criteria for qualification. Some examples of this would be: If a qualified intermediary or the buyer has direct equity in the property being sold, the seller must list the property for sale using the azine name on local publications (in other words, the buyer,s agent would need to submit a letter of authorization to the listed seller). On the other hand, if no equity is available, then the seller can list the property using the buyer,s agent (which means the agent listed on the buyer,s direct equity statement, but the authority to sell will not be delegated to the agent until the buyer actually agrees to purchase the property and submit a letter of intent to the seller).
Why list your home for sale on an exchange? Because you want to make sure that you get the most possible profits from the sale of your rental property. It is also a great way to build your business contacts in the industry. When you list your property with the best possible listings, you will find that it becomes easier to solicit real estate leads as people start to see that you are someone they want to work with. You will also find that the larger number of potential buyers leads to a larger number of possible sales. So what,s the best way to find the best 1031 exchange companies? The best way is to locate qualified intermediaries who have experience in dealing with distressed property owners who want to sell their rental properties.