Partnering with Midland 1031
Do you work with real estate investors looking to defer taxes on investment properties? Midland 1031 makes the exchange process simple! We are a premier 1031 exchange partner and provide professional, personalized service in working with real estate professionals and their clients. Midland walks you and your clients through the exchange process step-by-step, assisting you along the way.
As a trusted, qualified intermediary since 1994, we are dedicated to educating realtors, title agents, attorneys, and their clients on the rules and processes of 1031 exchanges. We offer multiple educational resources online and free classes for 1031 exchange partners and their staff. If you’d like Midland 1031 to teach you about 1031 exchanges, fill out the form below. You can also find frequently asked questions on this page that pertain to you and your clients. We hope we get a chance to work with you, and we appreciate your business!
Select the Business Type That Best Represents Your Company
Have a client that is ready to set up an exchange? The most important thing to remember is that a Qualified Intermediary (QI) must be in place before closing. You should include additional verbiage in the contract to reference that your client is completing a 1031 exchange. Click here to access that verbiage.
More often than not, the exchange is not considered until after the execution of the contract. Midland 1031 will ensure that the exchange agreement contains the required notice to the other party, advising them of the exchange.
Again, the most important thing for you to remember as the real estate professional is that your client must have a QI in place. Let Midland 1031 handle the rest.
FAQs from Real Estate Professionals
I don’t want to risk having this deal fall-through. How complicated is the exchange?
How long does it take to get the exchange set up? Sometimes we don’t even know that the client wants to do an exchange until they are near or at closing.
My client is selling a duplex and wants to acquire a single-family residence as their replacement property. Are they allowed to do that?
If I recognize a situation where my client may benefit from a 1031 exchange, how do I bring it up without feeling the pressure of having to answer all of their questions?
Clients often do not realize that they need a QI until just before closing or at closing. It’s not too late to set up the exchange! Contact Midland 1031, and we will provide you with the appropriate closing instructions and prepare the necessary exchange documentation for the client to sign. Remember, if the client does not have a QI in place before the completion of closing, the opportunity to do the exchange is lost.
FAQs from Title Closing Agents/Attorneys:
Your documentation references that the contract has been assigned to you as the QI. Am I to prepare a deed from the Exchanger to you, and another from you to the new buyer?
Where do we send the proceeds?
The Exchanger has advised that they want to take some funds at closing. Is this OK?
Who signs the closing documents?
The Exchanger has advised that they will be taking title of the new purchase in the name of an LLC, which is different from your documentation/instructions. What is the proper protocol?
You are holding more money than we need for closing. Can the excess be disbursed to the Exchanger at closing?
Schedule an office presentation or webinar
Meet with one of our 1031 Exchange Team Members
Theresa Knower, CES
Senior Vice President
Janet Davis, CCIM
1031 Exchange Senior Associate