SWSOP
Thanks for the timely info. I am in the process of investigating the 1031 and have called many law firms, settlement companies and CPAs in and around the Myrtle Beach, SC area.
Of note, here are a few things I have been told:
-check and see if your funds from the sale are held in an interest bearing account before you buy your replacement property
-there are no licenses needed by an Intermediary to perform the 1031 transaction
-there is no regulation for the transaction
-anyone can perform the transcation, and attys may not be bonded for this, they have legal malpractice insurance which may not apply since the 1031 is not a legal matter
I won't be entering into my 1031 agreement until early 2007, but I like to be ahead of the game...
Good Luck and do your homework.
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