Highlands NC Real Estate and the 1031 Exchange

1031 exchange

Highlands NC Real Estate and the 1031 Exchange


 

1031 exchange

Meadows Mountain Realty, Highlands NC real estate

Highlands NC real estate and the 1031 exchange often go hand in hand.  This is a way for real estate investors to sell one property and buy another without having to pay taxes on the capital gains at the time.    The taxes are deferred until a sale is not tied to another purchase. Understanding the 1031 exchange is essential to your success.  An experienced Highlands NC REALTOR understands the process but an attorney specializing in real estate tax law is always advised to ensure all the rules are met.

What you need to know about a 1031 exchange

This tax-free real estate transaction is for investment properties.  This means that neither the property you are selling or buying can be your primary residence.  In addition these properties must be investments.  Commercial properties are clear but vacation properties also work as they accumulate value over time and can also be rented out.  There are many Highlands NC properties that can be identified to meet this goal.

The 1031 exchange must involve a sale and a purchase.  When an investor decides to sell a 1031 property he must identify another property as a part of the sale.  Furthermore the replacement property must be considered a “like-kind”.  One investment must be replaced by a similar investment.

Learn more about buying and selling real estate in Highlands NC

Contact our team at Berkshire Hathaway HomeServices Meadows Mountain Realty today to learn more about real estate in Highlands NC.  We welcome the opportunity to update you on current market conditions while getting you started on your property search.  Let our knowledge and experience serve as your guide, including getting you up to speed on Highlands NC real estate and the 1031 exchange.

Click here to read “Understanding the “Tax Free” Exchange” from Realty Times.

About the Author
BERKSHIRE HATHAWAY HOMESERVICES MEADOWS MOUNTAIN REALTY has been serving the Highlands NC and Cashiers NC areas offering exclusive mountain real estate and country club properties since 2003.

We recognize that there are many important aspects to consider in making a real estate choice. With that in mind, we listen closely to the needs and desires of each individual customer and work diligently to find the ideal mountain property or to sell your property as efficiently and effectively as possible. However, our job does not stop there.

Once you have made your real estate decisions, we are here to help you in any way that we can. It will be our pleasure to familiarize you with all aspects of the Highlands and Cashiers communities, including home, professional and personal services as well as activities, restaurants, health care and shopping. We will go the extra mile to ensure that your experience in the mountains exceeds your expectations.

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