We know that in today's market, selecting a Qualified Intermediary is one of the most important real estate decisions an investor will make. That's why it's important to ask the following questions before selecting your Qualified Intermediary:
1. Where exactly will my funds be held during the 180-day exchange period?
2. Are all exchange funds held in liquid, separate, segregated accounts at financial institutions?
3. How does the QI select the financial institutions they work with?
4. Can I have access to my money if I need it - and when I need it?
5. Who exactly is behind the QI's company; what is their history, leadership and strength?
6. Do the QI's affiliated companies have regulatory adherence experience, such as a title insurance company?
7. What type of internal controls, audit procedures, and checks and balances does the QI have to protect my 1031 exchange?
8. Has the QI staff attained the professional designation of CES® recognized by the Federation of Exchange Administrators?
9. How knowledgable is the QI about the 1031 tax rules?
10. How is integrity incorporated into the QI operation, organizational practices and decision making?