Allentown, PA -- (ReleaseWire) -- 10/19/2021 --A 1031 exchange is a piece of law that permits an investor to sell a home and reinvest the earnings in a new home, deferring any capital gains taxes in the process. Many people can postpone paying taxes on real estate profits with the aid of the 1031 exchange in Lehigh Valley and Allentown, Pennsylvania.
Sellers will have 180 calendar days from the original sale of the relinquished property to complete their exchange into the replacement property. Within the first few days of the period, the seller must designate candidate properties and identify them to the IRS with the aid of a qualified intermediary, also known as an exchange accommodator.
It permits sellers to designate up to three properties, regardless of their value. Once all IRS criteria for a 1031 transaction are satisfied, cash in a trust account with the qualified intermediary can be used as earnest money to purchase the specified property.
Traditional Abstract, LLC provides a wide range of services, including title/lien searches, title insurance, real estate closings, and title ordering. As one of the top institutions, the firm helps investors in Pennsylvania by offering the option of a 1031 exchange.
The professional staff working for the company has years of experience in real estate. With hundreds of replacement properties, they are sure to assure success when providing 1031 exchange.
They walk their clients through the rules and regulations associated with the process and the benefits it affords. The primary purpose of the 1031 exchange is to defer the tax on profits gained after selling the property.
It also takes one through a construction process whereby improvements to the replacement property can be made using the proceeds from the 1st property. It also allows for the diversification of investment, which helps in minimizing the risks. Business professionals can shift their processes to some other locations using this process.
For help with real estate title in Lehigh Valley and Nazareth, Pennsylvania, visit https://www.traditionalabstractllc.com/real-estate-title-easton-lehigh-valley-nazareth-allentown-bethlehem-pa/.
Call 610-740-9100 for more details.
About Traditional Abstract, LLC
Traditional Abstract, LLC offers a host of real estate transaction-related services to the people of Easton, Lehigh Valley, Nazareth, Allentown, Bethlehem, and nearby areas.
Traditional Abstract Specializes in 1031 Exchange in Lehigh Valley and Allentown, Pennsylvania
Traditional Abstract, LLC is the right place to come by when it comes to 1031 exchange in Lehigh Valley and Allentown, Pennsylvania.