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To complete a 1031 exchange in Lorman, MS, you must work with a qualified intermediary to hold your funds and sign an agreement. At 1031 Nationwide, we can provide the expertise and support you need to ensure a successful exchange.
To participate in a 1031 exchange, you must first sell your existing property, which is known as the “relinquished property.” All deadlines for the exchange process are based on the closing date of the relinquished property, not the contract date.
Once you’ve sold your relinquished property, the next step in a 1031 exchange is to identify potential replacement properties to buy. This is a crucial step in the exchange process, and it must be completed within 45 days of the sale of the relinquished property.
The final step is to purchase the replacement property within 180 days of selling the relinquished property. This six-month window allows you to find and close on a suitable replacement that meets your investment goals and the exchange requirements.
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At 1031 Nationwide, our mission is to help you achieve your investment goals, while minimizing your tax liabilities and simplifying the 1031 exchange process. We understand that navigating a 1031 exchange in Lorman, MS can be complex and time-consuming, but with our expertise and experience, we can guide you every step of the way.
Our team of qualified intermediaries has helped countless investors across the country successfully complete their 1031 exchanges, unlocking new opportunities for growth and financial freedom. We offer personalized guidance and support throughout the entire process, from identifying potential replacement properties to closing the deal.
At 1031 Nationwide, we understand that completing a 1031 exchange can be a complex and daunting process. That’s why we offer a range of services to simplify the exchange process and help…
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At 1031 Nationwide, we are dedicated to helping real estate investors grow their portfolios and achieve their financial goals through 1031 exchanges. We understand that navigating the complexities…
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At 1031 Nationwide, our mission is to help you achieve your investment goals, while minimizing your tax liabilities and simplifying the 1031 exchange process in Lorman, MS. We understand that navigating a 1031 exchange…
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Lorman, MS, was founded in 1878 and later incorporated as a town in 1884. It is located in Jefferson County, in the southwestern region of Mississippi. The town has a rich history, once serving as a hub for the historic Natchez Trace Parkway, a significant transportation route.
As of the most recent census data, the population of Lorman stands at approximately 1,800 residents. This small town offers a close-knit community feel, with a focus on education and community engagement. The town is also home to Alcorn State University, one of the oldest historically black educational institutions in the United States.
In terms of the real estate market, Lorman offers a mix of historic homes and newer developments. The median home value in Lorman is around $90,000, making it an affordable option for those looking to purchase property in a charming, rural setting. The town's real estate market is known for its tranquility and natural beauty, providing residents with a peaceful and picturesque place to call home.
We have worked with various companies, just a few we have partnered with. You can be assured that your 1031 Exchange will be handled appropriately.
