A qualified intermediary is an essential element of any successful 1031 exchange. However, many people don’t fully understand what a qualified intermediary does. Our qualified intermediaries have decades of experience working with Nebraska taxpayers on their like-kind exchanges. Contact our team of 1031 exchange professionals for help with your 1031 exchange today 877.373.1031.
What is a Qualified Intermediary?
A qualified intermediary is a tax professional who works directly with a taxpayer to facilitate their 1031 exchange. Watch the video below to learn more about the role of the qualified intermediary in an exchange:
Benefits of Hiring a Qualified Intermediary for Your Exchange
There are many reasons to hire a qualified intermediary for your 1031 exchange. Here are some of the many benefits of hiring a qualified intermediary to facilitate your exchange of real property:
- Document Preparation. There are a lot of technical documents that are necessary in any 1031 exchange transaction. Your qualified intermediary will prepare all of these documents for you so you are fully prepared when you get to the closing table.
- Alleviating Your Fears. A 1031 exchange can cause a lot of anxiety if you don’t know what you’re doing. Having an intermediary on your team can help alleviate your fears of a failed transaction.
- Answering Your Questions. You will likely have a lot of questions regarding your exchange. What type of property should you exchange into? What qualifies as like-kind property? Your intermediary will be on hand to answer all of your questions that arise during the process.
- Insulating you from Receiving Proceeds. In a 1031 exchange, you cannot take possession of your sales proceeds. Your qualified intermediary can act as the in-between and hold your funds until you are ready to roll them into your replacement property.
Qualified Intermediaries in Nebraska
Having a qualified intermediary on your team can be the difference between a successful and a failed exchange. Contact a qualified intermediary before you begin your exchange to make sure you have everything lined up correctly. Call our Nebraska 1031 exchange qualified intermediaries now to start your exchange 877.373.1031.