Know Who Does What in Your Exchange Team
Learn which advisor handles each part of your exchange, so nothing falls through the gaps.
Who Decides What
Your broker guides property choice, pricing, and offers. Your qualified intermediary holds exchange funds and prepares required paperwork. Your CPA confirms eligibility, basis, and gain, and signs off on your tax filing. Each advisor owns one part of the decision, and no single advisor replaces the others.
Watching for Conflicts
A qualified intermediary cannot be someone acting as your agent in other matters, such as your regular real estate agent or a relative. Keeping roles separate protects your exchange under IRS safe harbor rules. If one advisor wears two hats, ask questions before you sign anything.
When to Assemble Your Team
Start building your team as soon as you plan to sell. Bring in your broker to search for replacement property, your CPA to confirm tax treatment, and your qualified intermediary before your sale closes. Add a tax attorney or estate counsel if your situation is complex.
Sources
Educational only, not tax advice. Your CPA must confirm tax treatment, timing, participation, basis, and filing before you act.
Common questions
Clear answers first. If one question changes the deal, bring it into the review before you move money.
Q1Who decides if my exchange qualifies for tax deferral?+
Your CPA or tax attorney makes that call. They review your property type, use, and timeline against IRS rules. Your broker and qualified intermediary support the process, but they cannot confirm eligibility for you.
Q2Can my real estate agent also serve as my qualified intermediary?+
No. IRS rules bar your agent from acting as your qualified intermediary. This conflict rule protects your exchange. Choose a separate, independent qualified intermediary to hold your funds and prepare your documents.
Q3When should I bring in a tax attorney?+
Bring in a tax attorney when your exchange involves complex ownership, entities, or disputes. Your CPA can flag when a situation needs extra legal review. Not every exchange needs an attorney, but complex cases often do.
Map Your Exchange Team
Ready to build your team and your plan? Book a Real Estate Review to talk through your property, your timeline, and the advisors you will need.
Map Your Exchange Team
Ready to build your team and your plan? Book a Real Estate Review to talk through your property, your timeline, and the advisors you will need.
Book a Real Estate ReviewNext steps
Keep moving forward
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