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Why Use Us as a 1031 Exchange Provider

$495 Flat Fee

  • Covers one relinquished and one replacement property.
  • $100 for each additional replacement property, no charge for the first.
  • No wire fees.

Personalized Service

  • Others are just internet sites, with “fill in the blank” forms and anonymous email “customer service” replies. With e1031xchange you can call us and speak to a live representative. We are available any time of day to facilitate the exchange, and all clients are given the principal’s cell phone number for after hours access.
  • We maintain constant contact with your settlement agent to ensure the process is done correctly.
  • Privacy.
  • Other firms are in the business of selling your name to firms that want to sell you replacement assets. We don’t sell the names of our exchangers and hold your privacy in strict confidence. You won’t be getting annoying sales calls during the exchange period as you will with other providers.
  • Security of funds.
  • The president of the firm is a licensed New York State (NYS) attorney with vast real estate experience.
  • Funds are held in a segregated and named NYS attorney escrow account.
  • Full FDIC insurance per client, not per account as with others.
  • FDIC insurance covers accounts in member banks up to $250,000. This does little good if your proceeds are deposited into a commingled account as they are with many other facilitators. Our client’s funds are deposited into a NYS Attorney Escrow account and therefore affords each taxpayer the full $250,000 of FDIC insurance under applicable law.
  • Fidelity bond, liability and errors and omissions insurance in place and evidence provided to all clients on request.

What Others Won’t Tell You

  • They are overcharging, with fees often exceeding $1,000 for an exchange, and “add ons” that can get the bill even higher.
  • They are making money trying to sell you a replacement, by selling their “lists” of exchanging taxpayers to salespeople trying to sell you replacement properties. And often the successful sale of a property earns the exchange facilitator even more fees.
  • Hidden fees.
  • Our fee is a single, disclosed fee of $495 for the entire exchange. That’s it, there is never a hidden fee. Others charge wire fees, document preparation fees, and “miscellaneous” fees that can add up and create an unexpected bill.
  • Others require 3-5 days’ notice for the replacement property settlement.
  • We wire funds on the next day after the request.
  • Your funds are reinvested in risky investments, like auction-rate securities (such as LandAmerica 1031).
  • There are no IRS regulations on what a qualified intermediary can or can’t do with customer funds. Many intermediaries invest your hard-earned exchange proceeds in risky investments, hoping to earn high yields for themselves. But we hold the proceeds in a NYS Attorney Trust Account with a major New York City bank.
  • The LandAmerica 1031 case.
  • The lessons learned from the LandAmerica bankruptcy case should give caution to taxpayers before “parking” their exchange proceeds with just any qualified intermediary. On November 26, 2008 LandAmerica 1031 Exchange Services, Inc. filed for bankruptcy. At the time of the filing, 450 of its customers were holding over $420 million of proceeds from the sales of relinquished properties. The taxpayers argued that the funds deposited with LandAmerica should be returned in full to the taxpayers, as the money was held in trust for them. But the court disagreed, noting that the exchange agreement didn’t even use the words “trust” or “escrow” and placed no restriction on LandAmerica’s use of the funds deposited after the sale of the relinquished property. The taxpayers were treated as general creditors of the bankruptcy and were not entitled to a return of their exchange proceeds in full.
  • So, be careful.
  • Other exchange intermediaries comingle exchange funds, ours are held in a NYS Attorney Trust Account.
  • Other exchange facilitators have agreements that do not require the funds to be held in trust or escrow, our section specifically provides that ours are held in trust.
  • Others invest funds in risky, high-yielding investments, with the gains accruing to the intermediary. LandAmerica invested in risky, “auction-rate” securities. Ours are held in a NYS attorney trust account under the supervision of a NYS licensed attorney.

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Testimonials / What Our Clients Say

Wanted to reach out and say ‘thank you’ for all your outstanding work. It means the world to us that you were so comprehensive and also gave Sue and I the clarity necessary to make the right decision. Your attention to detail was very much appreciated and we would highly recommend you and your team to anyone.
Mike Martinovich, Flatiron Borman Management