Blog Stories Quick quick, 1031 exchange timeline!

Quick quick, 1031 exchange timeline!

By Andee Zeigler, September 18, 2021

My clients are planning ahead for a move to Portland in a few years. They sold an investment property which meant they needed  to perform a 1031 exchange to avoid capital gains taxes. When doing a 1031 exchange you have 45 days from the close of the sale to identify a replacement property of equal or greater value. Since the buyer of their home was a cash buyer with a quick close, they had to move fast. Add to that, they still live out of state. We had a mad dash weekend to establish their likes and dislikes and then it was all FaceTime from there.

When choosing an investment property you have to think about the purchase price as well as income and appreciation potential, it’s the most math based transaction there is. They thought they found the one but the inspection revealed well hidden defects during a flip, which ate up precious time.  The stars aligned and the following weekend there were 4 excellent options but one penciled out the best. It was just the start of the Delta spike and the seller, a doctor, wanted to end showings quickly and accepted their offer without competition.  We closed with 2 days to spare on the 1031 timeline!

Congrats to my buyers on finding a property that exceeded their income hopes!

Andee Zeigler

Principal Broker

She/Her

I have called Portland home for over 20 years and can’t imagine raising my babies anywhere else. I have been a REALTOR® for over a decade and still wake up every day delighted that I truly love what I do. I love helping people find their home sweet home, score an investment property that pencils out better than expected, holding the hand of a first-time homebuyer, or guiding a nervous seller through the process of leaving a home they’ve loved. I know Portland like the back of my hand and have a wealth of knowledge about our unique homes and rapidly growing inventory of new construction. I have loved up many homes over the years, from a total restoration of an 1894 Victorian farmhouse to a full remodel of 1942 ranch and several in between. I enjoy educating my clients on the home buying and selling process as well as educating them on how to care for their home. I strive to help buyers understand their homes' unique qualities, how to love them up, and the realities of vintage homeownership. Each real estate transaction is different and for many people the entire process is new and can feel overwhelming. I work hard to help clients manage expectations and give them perspective along the way. I also truly love negotiating and believe it can be done with grace and cooperation. Over the years many of my clients have become my friends and I am grateful for the joy this career has brought me. When I am not scouring the new listings, meeting clients for pie or reading up on all things real estate, I am busy filling my days with goodness. I currently live in my dream home in St. Johns with my husband, 3 kids, 2 cats, 2 ducks and goose! I am an avid gardener, growing over 30 varieties of fruits and vegetables and countless plants and flowers, including nearly 1000 tulips and over 100 dahlia varieties. During the spring and summer we have a little free table with bouquets and plant starts for our community. When the garden doesn’t need me you can find me in the kitchen. I try to bake once a day, everything from sourdough to french macarons. I graduated with an art degree and find great joy in painting and making pottery, there is almost always an art project happening at the dining room table. I am a dedicated traveler and have made exploring the world with my babies a priority. When we aren’t traveling internationally we explore our corner of the world in our Vanagon, Dr. Coffey! I am in constant awe of the beauty of the PNW and feel grateful that this is my home sweet home. I absolutely believe that everyone should love where they live and won’t let anyone settle!
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  • T: 503-901-6864
  • andee@livingroomre.com

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