WHAT IS A 1031
Section 1031 of the Internal Revenue Code provides that no gain or loss shall be recognized on the exchange of property held for productive use in a trade or business, or for investment. A tax deferred exchange is a method by which a property owner trades one or more relinquished properties for one or more replacement properties of like-kind, while deferring the payment of federal income taxes and some state taxes on the transaction.
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...although the property was a considerable distance from where we live, we decided to inquire about it. After our phone call to Dave we received more information about different listings and the area they were in, we made an appointment with them to see it personally. The following Saturday they showed us not only the property we were interested in but also other places for sale. They paid attention to our needs and concerns, without pressuring us to make an immediate decision. When we returned home we decided to buy but the distance of this place was still bothersome. Dave, you assured us that you would assist us with anything we needed not only during the transaction but also afterwards.
To say the least, our transaction was smooth and the settlement took place without us being there in person. The whole VandeWater office, Dave you were very professional and kept their word in assisting us with different matters, even still to this day. For that we are indeed grateful.
Thank you for keeping your word, for your professionalism and great services. We will be happy to refer you to anyone who is about to buy property in your area."
Walter & Vera Bursztynski