4) After this you need to notify us about the details of your closing agent. We will need the name, the phone number of the closing agent, the company and the file number (sometimes referred to as the escrow number). You can send us this information through the contact form.
5) We will then contact your closing agent and get any additional info that is required. We will set up and exchange file for you, process the 1031 property exchange documents and send these documents directly to the closing agent. You can sign the documents once you get it from the closing agent and provide with any other closing document.
6) After the exchange sale is complete, the closing agent will transfer the proceeds to our account. On receipt of the fund and a copy of the final closing statement we will send you a letter showing the amount of proceeds we received. (This should be same as the amount shown in the closing statement). In this letter, we will also inform you about the 45-day and 180-day period and a form will be enclosed for you to identify the replacement property.
Once you have done this much, you are into your 45 days period of your 1031 property exchange.
