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Real Estate Q & A: 1031 Exchange – What’s a Qualified Intermediary?

Real Estate Q & A: 1031 Exchange – What’s a Qualified Intermediary?

One of the key players in the exchange is the Qualified Intermediary. The buyer (of the old property you are selling) and the seller (of the replacement property you are buying) are not involved – their transactions are handled the same as traditional transactions are.

The Qualified Intermediary is sometimes refferd to as a “facilitator” or “accomodator.” He functions as a middleman between you and the buyers and sellers of the properties involved. Because you’re not allowed to take “constructive receipt” (physical possession) of the proceeds of the sale of your old property, the QI holds all monies from the sale of the first property until the second, the new, property is purchased, whereby the monies are transferred to the seller of that property.

We hope you have enjoyed this Q & A – And found it informative! Please contact us if you have more questions.

Getting it SOLD – for YOU!

Ken Courtade & The Yes I Ken! Team

703-981-4646

KenCourtade.com

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Real Estate Q & A: 1031 Exchange – What is it?

Q and A: 1031 Exchange – What is it?

A way to defer taxation on profits on the sale of an investment property is to exchange a qualified property for another “like-kind” property. It’s named after the Internal Revenue Code (IRC) Section 1031. You’ll hear it referred to often as a tax-deferred exchange or a 1031 exchange.

Contact me if you would like more information on this smart way of investing. We are ready to help!

Getting it SOLD – for YOU!

Ken Courtade & The Yes I Ken! Team

703.981.4646

KenCourtade.com

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The Fall Market is Coming – Or is it?!

Is it time – or not?!

We approach the first official day of Fall, and our buyers – and I as their agent (Because I want to do a great job for them by finding their home of choice soon.) have been watching the season’s inventory come on the market. Slowly. Will more come?

After months of summer slumber at the beach, in the mountains Read the rest of this entry »

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Do staged homes really sell faster?

Homeowners that I meet with to list their houses smartly ask about the usefulness, the value, in staging a home to sell.

The short answer is: Read the rest of this entry »

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THE WESTOVER CAPE – SOLD

The Westover Expert is delighted to announce:

JUST SOLD TODAY
$689,000
“The Westover Cape”
5934 Washington Blvd
Arlington, VA
We brought buyer in 1 day
Sold for Over Asking Price

We had a great time assisting our wonderful client in the sale of his home. There was a lot of interest from buyers and we were able to garner the seller more for his home than he was asking.

We are here to help you be successful in the sale of your home as well. Let us know how and when we can help!

Getting it SOLD – for YOU!

Ken Courtade & Co, The Yes I Ken! Team

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