Going through any type of 1031 Exchange without a Qualified Intermediary (QI) is like representing yourself in court when you’ve been falsely accused of murder and the defendant has the nation’s best DA. Yes, technically, you can do it. But no, it is not a good idea.
A Qualified Intermediary understands IRC regulations and knows them inside and out. QIs act as safe harbors for your property or your money, depending on the exchange type. A QI drafts all of the exchange documentation, assists in the calculation and meeting of timelines, provides strategic guidance in meeting the exchange requirements for each transaction, and secures the taxpayer’s funds during the exchange. A good QI will keep you between the lines and your money safe from taxes. You won’t find a QI with more experience, more knowledge, or more integrity than Banker Exchange.
Banker Exchange has