1. Exchangor engages Atlas 1031 Exchange to accommodate the exchange by signing the engagement letter and returning along with a completed W-9.

2. Sale of old or relinquished property is negotiated and a Real Estate Sales contract is signed. Remember to include assignment language in the contract.

3. At the first of two closings, the Exchangor signs the traditional closing documents and three exchange documents.

4. Net exchange proceeds are wired to Leesport/Madison Bank. 

5. Identification and replacement period begins the day following the closing. Exchangor must identify by the 45th calendar day replacement property or the exchange ends on the 46th calendar day and the exchange funds are returned to the Exchangor. Personal property may also need to be identified if the aggregate value exceeds 15% of relinquished property sale. Replacement property must be purchased within 180 calendar days from closing.

6. Real Estate Purchase Agreement is signed by Exchangor. Remember to include the replacement assignment language in the contract.

7. Closing is scheduled where traditional closing documents are signed along with exchange documents. Exchange proceeds are wired for closing. Deed for new property is recorded in the name of the Exchangor who sold the relinquished property.