Washington
Paul Van Every is the sales manager for Pacific Northwest including Washington and Oregon overseeing all sales and continuing education.
Paul Van Every
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Rules & Timelines – IPX1031
Washington 1031 Exchanges
IPX1031 offers a comprehensive guide to navigating 1031 Exchanges in Washington, providing valuable insights into tax-deferral benefits, regulations, and effective strategies for real estate investment.
1031 Exchange Rules in Washington
Investors can defer capital gains taxes on Washington real estate investment sales through IRC Section 1031. 1031 Exchanges are federally recognized, and Washington adheres to federal rules, regulations, and timelines, enabling investors to defer capital gains on qualified property exchanges.
Washington offers diverse investment opportunities for tax deferral, including properties like short-term rental vacation properties, retail spaces, mixed-use developments, and more. If you’re exploring a Washington 1031 Exchange, consult with the experts at IPX1031 for guidance and support.
What is a 1031 Exchange in Washington?
1031 Exchanges in Washington enable investors to divest from investment property, reinvesting proceeds into new investment properties, and deferring capital gain and other taxes, provided adherence to all rules and regulations.
To mitigate capital gain taxes in a Washington exchange, investors are advised to: 1) acquire property of equal or greater value, 2) reinvest all equity in the Replacement Property, and 3) secure equal or greater debt on the Replacement Property.
Types of Properties that Qualify for a 1031 Exchange in Washington
To qualify for a 1031 Exchange, Relinquished and Replacement Properties must be qualified as “like-kind,” and the transaction must be structured properly. “Like-kind” properties must be real property held for productive use in the investor’s trade or business or for investment.
Popular like-kind property options in Washington include hotels, storage facilities, rental vacation properties, nursing homes, strip malls, golf courses, office buildings, and parking lots.
Hotels & Hospitality
Multifamily
Agriculture
Industrial
Rental & Vacation Homes
Retail
Mixed Use
Commercial
How to Do a 1031 Exchange of Property in Washington
Executing a 1031 Exchange in Washington, like anywhere else, demands planning, expertise, and support. Here’s a checklist outlining key steps in your exchange:
- Choose your 1031 Qualified Intermediary (QI) – IPX1031, as your Qualified Intermediary (QI), will prepare the documentation for the 1031 Exchange, and most importantly, safeguard your exchange funds
- Consult with your tax professionals
- Include Cooperation Clause language in your purchase and sale agreement
- IPX1031, your QI, prepares your exchange documents
- Start searching for Replacement Property
- Sign all documents IPX1031, your QI, prepares
- Sell your Relinquished Property
- Identify your Replacement Property
- Enter into contract on Replacement Property
- Contact IPX1031, your QI, once Replacement Property escrow is opened
- Close on Replacement Property
- IPX1031, your QI, transfers funds to complete your purchase
- Your exchange is complete
Ready to Get Started on Your 1031 Exchange In Washington?
Ready to Get Started on Your 1031 Reverse Exchange in Washington?
1031 Exchange Washington Timeline
For your 1031 Exchange in Washington, here’s what you need to know about the timeline process, deadlines, and other requirements:
- Property must be held for investment
- Buy Replacement Property for equal or greater than sold for, reinvest all proceeds and replace the value of the debt
- Identify Replacement Property within 45 days of close of sale
- Purchase Replacement Property within 180 days of close of sale
- Must sell and buy property that is considered “like-kind” to each other
- Process must be handled by a Qualified Intermediary (QI) like IPX1031
Selecting a Qualified 1031 Exchange Intermediary in Washington
IPX1031 stands as your reliable Washington Qualified Intermediary, dedicated to Washington clients while extending Qualified Intermediary services across the nation. Your selection of a Qualified Intermediary is pivotal for the success of your exchange, emphasizing elements such as the security of exchange funds and the proficiency of personnel.
IPX1031 provides financial safeguards, ensuring secure fund transfers and maintaining a sterling reputation, thereby facilitating a streamlined exchange process. It’s important to note that disqualified individuals from serving as Qualified Intermediaries include those who have acted as your employee, attorney, accountant, investment banker or broker, or real estate agent or broker within the two-year period before the transfer date of the Relinquished Property.
Furthermore, Qualified Intermediaries are unable to dispense tax or legal advice, hence the necessity to seek personalized guidance from your legal and tax advisors. IPX1031 collaborates closely with your advisory team to guarantee seamless exchanges.
Attorneys
Tax Advisors
Realtors
Financial Planners
Commercial Brokers
CPAs
Title/Escrow/Settlement Agents
Lenders
IPX1031 Exchange Offices in Washington
PH: (425) 471-6144 TF (888) 310-1031
PH: (503) 223-3911 FAX: (425) 947-9834
11900 NE 1st St., Suite 110, Bellevue, WA 98005
Learn more about each of our Washington Exchange experts below:
Nicole Valdez & Paul Van Every
Washington
Nicole Valdez and Paul Van Every are Washington state’s sales executives for IPX1031, handling all sales and continuing education.
Stephen Decker
Western Region Sales Manager. ‘SoCal, Washington, Alaska’
Stephen is responsible for business cultivation and development nationwide and is an expert in all types of exchanges, including: Delayed, Simultaneous, Reverse, and Build-to-Suit
Pierre W. Priestley, Esq., CPA, CES® – Washington
Washington Counsel
As Counsel, Pierre oversees the Pacific Northwest Operations with legal and technical support and transaction structuring guidance.
Let's Talk About Your Specific Washington 1031 Needs
Customized solutions for your 1031 investment and business goals.
Is there an IPX1031 office in Washington near me?
IPX1031, the national leader in 1031 Exchange QI services, is pleased to offer service in all cities, counties, and areas throughout Washington, including:
Seattle
Spokane
Tacoma
Vancouver
Bellevue
Kent
Everett
Spokane Valley
Renton
Federal Way
Yakima
Bellingham
Kirkland
Kennewick
Auburn
Redmond
Pasco
Marysville
South Hill
Sammamish
Richland
Lakewood
Shoreline
Lacey
Olympia
Burien
Bothell
Bremerton
Lynnwood
Edmonds
Puyallup
Lake Stevens
Parkland
Issaquah
Longview
Wenatchee
Mount Vernon
University Place
Graham
Spanaway
Walla Walla
Pullman
Des Moines
SeaTac
Orchards
Maple Valley
Camas
Tumwater
Is there an IPX1031 office near me? IPX1031, the national leader in 1031 Exchange QI services, is pleased to offer service in all US states including Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Washington DC, West Virginia, Wisconsin, Wyoming Search for your closest 1031 agent and 1031 office location here.