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 QI’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)