MARTIN
REAL ESTATE
1031 TAX FREE EXCHANGES
Let us do all of the work and help
you find the right farm for your 1031 tax-free exchange.
Chris Martin
IL. Real Estate Broker
IL. Certified General Appraiser
Phone (217) 465-6434
Cell Ph (217)
251-8561
Home (217)
465-4059
Fax (217) 465-6454
1031
Buyer Exchange Program
So you have a 1031 exchange and you want to purchase farmland with your proceeds. The
problem
is finding the right piece of property.
We
have the solution. Having years of experience working with 1031 exchange buyers
we
developed
this program specifically for 1031 exchange buyers.
Unlike
most buyers, as an exchange buyer has a limited amount of time to located and
negotiate
the purchase of the land that they need to meet the terms of the exchange.
Ideally
you would like to locate the land several months before your sale and have it
under
contract;
unfortunately there is often some uncertainty with a close date and most
farmland
sellers
either don’t fully understand the workings of a 1031 or are not willing to
wait.
That
makes it very difficulty for the 1031 buyer to located suitable properties, run
down
information
and drive all around the state viewing properties; all the while continuing to
deal
with day-to-day business decisions.
The
other big issue is learning about local markets: land prices, land rents, etc.
That’s
where we come in, with our Five Step1031 Exchange Buyers Program.
1. We
meet with you and determine your needs, desires and goals. (For example, buyer
#1
needs
to locate 320 acres, prefers unimproved, high quality farmland in a specific
area. In
contrast
buyer #2, wants a property with buildings).
2. We
make a search based on your “Wish List” of all properties available. In doing
so, we
also
analyze the local area for you. We have current records on land sales in nearly
every
3. We
present you with the results and let you decide what you want to see. We then
set up
appointments
(as needed) and take you to view the properties. On these visits we discuss the
pro’s
and con’s of each farm and let you decide, WITHOUT typical “salesman” pressure.
(My
personal theory is that either you like it or you don’t; no pressure!)
4.
Once the “right” farm(s) is located we pull together everything and on your
behalf
prepare
a written offer, and work through all the negotiations and paperwork until the
farm
is
closed.
5. We
add service after the sale with assistance locating prospective tenants, lease
options
and
terms.