If you are looking for more information on Eagan 1031 exchanges, you have come to the right place. At Realty Exchange, we have years of experience dealing with this and many other types of real estate transactions.
The good news is that 1031 exchanges in Eagan, Minnesota are not difficult to understand once you know the basics. If the information on this page isn’t enough, feel free to give us a call or send us an email with your questions.
Benefits of Eagan 1031 Exchanges
When talking about Eagan, MN 1031 exchanges, it’s important to note that it involves investment properties. As you probably know, when you sell an investment property, you need to pay taxes on the proceeds. However, with a 1031 exchange (also known as a tax-deferred exchange) you can legally and easily avoid paying those costly taxes.
Specifically, you will be able to defer capital gains taxes as well as depreciation recapture taxes. Basically, when you relinquish your investment property after a sale, you will have forty five (45) days to submit three properties (of equal or greater value) that you are considering buying with the proceeds from the sale of your other investment property. You have a total of 180 days to buy the new “like-kind” property.
Is This Type of Transaction Right for You?
The simple answer is yes, it will be a beneficial transaction for you if you are selling an investment property in Minnesota. At the same time, you really need to sit down and think about the big picture and what your plans are for the next few years. This is where Realty Exchange can really help. We have plenty of experience with 1031 exchanges in Eagan, MN and surrounding areas. We will give you answers for all of your questions.