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We received this inquiry from a successful Realtor® in a resort Community in Maryland- Can You Do a Reverse Like-Kind Exchange for a Replacement Property Worth Less than the Original? Q: Let's say you have a place on the market for $1,350,000 and want to buy a place that is less. Can you still p...
When entering into a 1031 exchange one often does not consider the ancillary costs that come with closing the transaction. Often the assumption is made that these costs will be subsidized by the 1031 exchange proceeds. However, while some of these costs certainly can be bankrolled by the tax def...
Like-Kind Exchanges are fairly identical state-by-state. However, locally, in Maryland we have a big pitfall to watch out for when conducting a 1031 Exchange. When your seller is a Non-Resident of Maryland (does not personally call Maryland their domicile) and they plan to conduct a like-kind ex...