EP 29 - Unraveling the Mystery of Choosing a 1031 Exchange Qualified Intermediary

Most 1031 Exchange Qualified Intermediaries have NO government or regulatory oversight. The industry just does not have a regulatory body that is authorized to oversee, license or regulate 1031 Exchange Qualified Intermediaries. Selecting a Qualified Intermediary for your 1031 Exchange transaction is complex and confusing. Qualified Intermediaries are not created equal. We demystify the due diligence needed for the careful selection of a 1031 Exchange Qualified Intermediary. Discussion includes a breakdown of the role of the Qualified Intermediary, identifying and evaluating the risks of using a Qualified Intermediary, technical issues, their internal policies, procedures and audit controls, the use of separated, segregated Qualified Trust Accounts, investment and safeguarding of client 1031 Exchange funds, errors and omissions insurance, fidelity bond coverage, financial institution insurance bond, suggested due diligence questions, and possible avenues to become licensed and regulated?

Email your 1031 Exchange questions to ASK@exeterco.com and we’ll address them in our next episode.

Host:
William L. Exeter
Chief Executive Officer
Exeter 1031 Exchange Services, LLC
(619) 239-3091
wexeter@exeterco.com

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