A 1031 Exchange is a great way for investor’s to develop significant wealth by deferring capital gains tax on the sale of assets that are replaced with like-kind properties. But this generous benefit of the Internal Revenue Code comes with a caveat:
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Sellers who owe more on their home than it is worth often choose to try a short sale, which requires approval from the bank to sell for less than what is owed. These deals can be good for both the buyer and seller, but before entering into one, there are some important considerations a buyer […]