Chances are you’ve never heard of 1031 exchanges, but if you own an investment property and plan to sell it and purchase another, doing so as a 1031 transaction could be to your advantage. But prior planning is a must because the rules are complex, rigidly enforced, and can result in severe financial consequences for mistakes in execution.
Most people only buy or sell a home a few times in their life, and it is always a life-changing event. But most buyers and sellers don’t work in the real estate industry, and the process can be confusing. That’s why it’s so important to hire the right professionals to make sure that every component of the transaction runs smoothly.
Selling your home can be a little overwhelming, no matter how many times that you’ve sold a home before. Between making repairs and upgrades, getting the home listed, and getting enough prospective buyers to see the home, a lot of things have to come together. What happens if you make a mistake?