Seller financing and 1031's - Posted by CarolFL

Posted by Bud Branstetter on April 27, 1999 at 12:18:07:

When you calculate the profit that is moving it includes existing mortgages on both the old and the new property. The only effect is if the mortgage holder has a problem.

Seller financing and 1031’s - Posted by CarolFL

Posted by CarolFL on April 27, 1999 at 11:02:04:

If I am the seller and want to do a 1031, does my holding a second on the sale affect the viability of the exchange?

I am looking at a property where the seller is in that situation - a guy who’s been investing over 40 yrs … what a pleasure to do biz with someone like this!

Understands holding paper but wants to 1031 the property and doesn’t know if that affects it.

Thanks, all you wizened exchangers!