1031 EXCHANGE CHECKLIST

Created by ChecklistGuro (https://checklistguro.com)

--- INITIAL CONSULTATION & PLANNING ---
[ ] Date of Initial Consultation
[ ] Client Name
[ ] Client Investment Goals & Objectives (Related to 1031)
[ ] Existing Property Type (Relinquished) (Residential, Commercial, Land, Other)
[ ] Estimated Value of Relinquished Property
[ ] Discussion of Potential Replacement Property Types
[ ] Understanding of Client Risk Tolerance (Low, Moderate, High)
[ ] Summary of Discussion & Next Steps

--- RELINQUISHED PROPERTY (SALE) ---
[ ] Date of Relinquished Property Listing Agreement
[ ] Summary of Listing Agent Discussions/Agreements (Regarding 1031 Exchange)
[ ] Date of Purchase Agreement Acceptance
[ ] Description of any Contingencies in the Purchase Agreement (e.g., inspection, financing)
[ ] Date of Closing Disclosure Receipt
[ ] Sale Price of Relinquished Property
[ ] Closing Costs Associated with Sale (including agent commission)
[ ] Notes on any unusual circumstances during the sale process

--- QUALIFIED INTERMEDIARY (QI) ENGAGEMENT ---
[ ] Select QI Method (Forward Exchange, Reverse Exchange, Improvement Exchange)
[ ] QI Background & Experience
[ ] QI Agreement Review
[ ] Method of Payment to QI (Wire Transfer, Check)
[ ] QI Engagement Agreement
[ ] Communication Protocol with QI

--- IDENTIFICATION OF REPLACEMENT PROPERTY ---
[ ] 30-Day Identification Deadline
[ ] 180-Day Exchange Deadline
[ ] Description of Identified Properties (List all potential replacements)
[ ] Estimated Value of Each Identified Property
[ ] Relationship to Relinquished Property (Contiguous, Like-Kind) (Contiguous, Not Contiguous, Like-Kind, Not Like-Kind)
[ ] Property Types Considered (Check all that apply) (Single Family Residence, Multi-Family Residence, Commercial Land, Office Building, Retail Space, Industrial Property)
[ ] Address of First Identified Property
[ ] Address of Second Identified Property (if applicable)

--- ACQUISITION OF REPLACEMENT PROPERTY ---
[ ] Date of Purchase Agreement Signing
[ ] Summary of Replacement Property Purchase Agreement
[ ] Purchase Price of Replacement Property
[ ] Loan Amount (if applicable)
[ ] Closing Agent/Title Company (Selected, Not Selected)
[ ] Scheduled Closing Date
[ ] Any Contingencies in the Purchase Agreement?
[ ] Copy of Purchase Agreement

--- CLOSING & REPORTING ---
[ ] Relinquished Property Closing Date
[ ] Replacement Property Closing Date
[ ] Gross Sales Price of Relinquished Property
[ ] Gross Sales Price of Replacement Property
[ ] Closing Costs (Relinquished Property)
[ ] Closing Costs (Replacement Property)
[ ] Summary of Closing Documents Received (e.g., Deed, Settlement Statement)
[ ] Upload Settlement Statements (Both Properties)
[ ] Closing Agent Confirmation Received? (Yes, No)

--- POST-EXCHANGE COMPLIANCE ---
[ ] Date of Final Exchange Report Received from QI
[ ] Summary of QIâ€™s Final Report and any Discrepancies
[ ] Was there any deferred gain? (Yes, No)
[ ] Amount of Deferred Gain (If Applicable)
[ ] Notes on Deferred Gain Handling (If Applicable)
[ ] Confirmation of Full Use of Funds (Yes, No)
[ ] Notes regarding any unutilized funds and their disposition (if applicable)
[ ] Date of Record Keeping Review

--- END OF TEMPLATE ---
Transform this text into a digital, automated, and trackable mobile app!
Visit: https://checklistguro.com/templates/task-management/1031-exchange-checklist
(Click "Install Template" to launch your digital inspection tool immediately)