1. Contact us when your Relinquished Property goes under contract. We will need a copy of the Purchase Agreement and the contact information for the escrow officer or closing attorney who is conducting the closing of the sale.
  2. We will send you an Agreement of Exchange of Real Property which describes the terms and conditions of the exchange transaction. This Exchange Agreement needs to be executed and returned to us prior to the closing of your Relinquished Property.
  3. We will provide our closing instructions to the escrow officer or closing attorney. Your closing will proceed as a typical sale, however the proceeds will be wired to Ten Thirty-One Exchange Corp. where they will be held in a custodial account.
  4. You have 45 days from the closing of Relinquished Property to identify up to three Replacement Properties. After the 45 day Identification Period ends you are locked into your selection of Replacement Properties and you must close on one of them by the end of the 180 day Exchange Period, or the exchange will be invalid.
  5. When you have a contract on your Replacement Property, send us the Purchase Agreement and the contact information for the escrow officer or closing attorney who is conducting the closing. As with the Relinquished Property, we will provide our closing instructions and your closing will proceed as normal. We will wire the funds for the Replacement Property directly to the title company or closing attorney.
  6. Any funds remaining in the custodial account will be returned to you at the end of the 180 day Exchange Period, and may be subject to tax.
  7. When the exchange is complete and all funds have been disbursed, we will send you a Completion Agreement which will close the exchange.
A Ten Thirty-One Exchange Corp. 2011 Botulph Road
Suite 200
Santa Fe, NM 87505
505-982-1031 phone
505-982-5211 fax
800-500-1031