Montana 1031 Exchange Qualified Intermediary Bozeman Offers No Cost Consultations

11/23/2018

Montana 1031 exchange Qualified Intermediary, 1031 Property Exchange, LLC, is Bozeman's first and oldest 1031 Intermediary and they're presently offering free trade consulting.

"We have taught 1031 exchange courses for years to Realtors in Montana and Wyoming but we believed it was time to extend free consultations on Bozeman 1031 exchange to all their investment property customers", says Rusty Squire, Bozeman's first ever Qualified Intermediary.  He adds,"We now have a lot of decades worth of experience performing exchanges in all 50 States, so we felt it was time that people prolonged free consultations".
"This means we'll sit down with a client and their Realtor directly in our offices off North 19th Street at Bozeman and meet face-to-face to discuss their particular situation with no financial risk to them", says Squire.  He adds,"They can decide for themselves, or in consultation with their Realtor or tax advisors, if we look knowledgable and can meet their needs".
"I have been operating in Bozeman for four decades and most of the accountants I initially knew have long since retired, therefore it's our job to help teach the next generation on exchange law", says Squire.  He adds,"Every property owner should consult their CPA prior to doing a 1031 exchange, especially concerning the tax consequences, but it is crucial to remember that a number of them don't fully understand exchange laws or plans - they weren't taught this in school".
WHAT TO BRING TO YOUR FREE CONSULTATION

"We need to learn your properties cost basis and because of yearly accounting adjustments you will most likely have to get this figure from your accountant",  says Squire.  
"We also need to find a copy of your property sales contract because, in case it is not composed on a Montana real estate form, we will need to make sure the appropriate language necessary for IRC 1031 is supplied", says Squire.  He adds,"It's also important to be certain that the name and enrollment will stay the same from the property you're selling into the one that you are purchasing".
He adds,"The term like-kind property is definitely nothing to worry about, it strictly means you are selling property held for business and investment purposes for other real estate held for the identical purpose, quite simply real estate for property".
THE NEXT STEPS
Ahead of a Montana 1031 exchange you will have to supply 1031 Property Exchange with a copy of your real estate contract and sign all necessary documents required by the IRS.  "We then will supply your name company with approprate instructions and set up a professional escrow that satisfies the 1031 guidelines", says Squire.
"Once you have signed all files we send instructions to your title company to make sure they follow IRC 1031 guidelines", says Squire.  He adds,"Once the market is complete the title company wires cash to your qualified escrow and the process of acquiring qualified replacement property begins".
If you'd like additional information related to 1031 exchanges or simply would like a free consultation then only call Rusty Squire in 406-425-2742 or see them online.

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