A 1031 exchange defers the federal and state capital gain when a taxpayer sells real property held for rental outside the US and replaces with like-kind real property of greater value internationally. Navigating the social norms with attorneys, banks and closing entities can be a huge challenge given those entities know very little if anything of a 1031 exchange. When the words, Internal Revenue Service are mentioned, many entities may elect to not participate or say no to the accommodator’s requests.
The investor found Atlas 1031 Exchange along with other qualified intermediaries in a Google search for accommodators to facilitate a 1031 exchange for a six figure collectible vintage sports car. His primary concern when selecting Atlas 1031 was their experience and knowledge with personal property exchanges, i.e. vintage sports cars. Personal property exchanges are not closed by title companies, but rather at auction or between exchangor, individual owners and companies. The investor’s 1031 exchange represented one relinquished for eight replacement sports cars. Each purchase required deposits and full use of the 180 calendar day window to complete the exchange. The investor was busy searching for the right car at an acceptable market value.
“The 1031 exchange went smoothly, our questions were answered thoroughly and we are very satisfied with the work performed by Atlas 1031 Exchange,” are the words the American Saddlebred horse owner used in a post-exchange review. His attorney found Atlas 1031 Exchange on the Internet along with other Qualified Intermediaries and selected Atlas 1031.
“I could not be happier with the outcome and the confidence I have in Atlas 1031 Exchange. Andy did what he said he would do and kept me informed of the progress and what I needed to do. I will be working with Andy again in the near future.”
"We were looking for the personal attention we were having trouble getting from the larger companies. I interviewed several companies and was looking for a person that was diligent and answered the phone when we called. I found Atlas 1031 through a web search on the Internet."
Tags: 1031 exchange property
When he was asked in a post exchange follow up, "What particular issue did you find difficult and should have been covered with a thorough explanation," he replied "There were no issues, the process was quick, seamless and efficient." "There were no problems."
"I was able to do it all through emails from my home. Andy made the process much less stressful. I was on a deadline and he gone it done for me, no issues at all. Communication was remarkable and always there whether through email or telephone. I give him two thumbs up and wouldn't change a thing."
Tags: aircraft exchange
"All in all, the process was very simple, payments to contractors was very quick and painless. I am pretty happy with being able to use the proceeds to make the improvements. I would recommend Atlas 1031 and the 1031 deferred improvement exchange."
In this 1031 exchange, capital gains taxes were deferred when Indiana farmland was sold and replaced with a Florida vacation property short sale. The exchange started with the client finding Atlas 1031 following a Google lookup using keywords 1031 exchange and the client’s home town. “The Atlas 1031 web site came to the top of the search list. The detailed site provided the information and confidence to proceed with making contact.”
"What impressed me was that what he said is exactly the way the reverse exchange happened. He was spot on. It is a rarity today to find someone so competent, available, thorough and responsive let alone trustworthy. If he didn't know the answer, it was not long before he researched the question and got back. I could not be happier with Andy. No complaint here, he was professional, timely and enjoyable to work with. I am sincerely appreciative of how Andy responded and acted on my behalf."
Tags: aircraft exchange