Once you’re on your way with your Sonoma County exchange and reverse exchange real estate transaction and the end of the process is in sight, you’ll want to take a fresh look at the contract and the invoice or explanation of payment, comparing the services actually provided with the services you were originally promised.

This is your chance to ask any final questions, get clarification on items you may not completely understand, review any guarantees or warranties, and review any responsibilities you may bear. If the exchange or reverse exchange process isn’t quite complete at this juncture, now is the best time to talk about the final steps in the process.

Keep in mind that once the transaction is completed and the company has been paid, either directly by you or through a points system associated with your real estate transaction, it can be harder to get the answers you want. So be sure you have closure on the deal before proceeding.

For your protection, the invoice or explanation of payment from exchange and reverse exchange real estate brokers in Santa Rosa, Petaluma, Rohnert Park, Windsor, Healdsburg, Sonoma and Cloverdale  or your area should include the following items:

• The real estate exchange company’s name, physical office address, and state license number.
• A complete list of all services rendered.
• The total cost for the services. You may want to request an itemized invoice that shows breakdowns of the total cost, including an itemized amount charged for fees, administrative costs, and other charges.
• A written explanation of any warranties or guarantees provided by the real estate exchange service or their agents.
• A written explanation of any responsibilities you bear in the process.

Diamond Certified companies are backed by the Diamond Certified Performance Guarantee. If the company you’ve hired is Diamond Certified and you can’t resolve the issue by talking with the owner, contact the mediation department at [email protected] or call 800-738-1138.

Resolving Conflict with Sonoma County Real Estate Exchange & Reverse Exchange Service Companies
The truth is most exchange & reverse exchange real estate sales brokers in Sonoma County are honest and really do look out for their customers’ best interests. Still, you should know what to do if you are ever dissatisfied with your local exchange & reverse exchange real estate sales broker’s service or work.

If you have a complaint or concern about the service you received from your exchange & reverse exchange real estate sales broker from Sonoma County, including the larger cities of Sonoma, Cloverdale, Sebastopol, Cotati, and Guerneville, immediately speak with the real estate broker or the real estate company manager. It is often best to resolve problems directly with the real estate sales broker, minimizing conflict and getting your real estate project finalized on time.

When discussing the issue with the real estate sales broker, keep these tips in mind:

• Try discussing the problem with a trusted family member or a friend. If that doesn’t help, you may need to seek legal advice from an attorney.
• Let your exchange & reverse exchange real estate sales broker know that you’re willing to compromise or negotiate a mutually-beneficial agreement.
• Review the contract specifications with your real estate broker and attempt to verbally resolve any problems in person.
• Set a deadline for resolution, and tell the exchange & reverse exchange real estate sales broker that you are willing to agree on a mutually-beneficial solution.
• You may legally withhold payment until the dispute is resolved to your liking.
• If you do not get a suitable response, consider sending a letter that outlines the problem and how you would like it resolved. Send the letter by certified mail and request a return receipt. If the problem continues, it may be time for outside intervention.
• Remain calm and polite.

Document your concerns in writing with the exchange & reverse exchange real estate sales broker. Write down the real estate sales broker’s response to your complaints in case you need records for future arbitration.

There are several types of reverse exchange & exchange real estate companies in Sonoma County, including the larger cities of Sonoma, Cloverdale, Sebastopol, Cotati, and Guerneville, that provide exchange & reverse exchange real estate services for all types of property. Below is a list of the most popular properties that exchange & reverse exchange real estate services are provided for.

Real Estate Property Exchange & Reverse Exchange
Real estate property is any property that is listed as for sale. It can include residential property, commercial property, or vacant land.

Industrial Properties Exchange & Reverse Exchange
Industrial properties are intended for the use a high-technology activity, the manufacture of materials or goods, or the processing of materials and goods by chemical or physical change.

Vacation Properties Exchange & Reverse Exchange
Vacation properties are residences used for holiday vacations, such as a beach house or cottage.

Investment Property Exchange & Reverse Exchange
This is property that is purchased with the intention of getting a return. It is not occupied by the owner. Investment property can include an apartment building, a duplex, vacant land, commercial property, a house-basically any type of real estate.

Ocean-Front Properties Exchange & Reverse Exchange
Ocean-front property is property that is adjacent to the ocean.

Personal Property Exchange & Reverse Exchange
Personal property is property that is owned by an individual or business which is movable and is not affixed to or associated with the land.

Farm Acreage Exchange & Reverse Exchange
Farm acreage is an allotment of land for the purpose of farming. Land for farming is typically devoted to the practice of producing and managing food such as grains, produce, or livestock.

Commercial Real Estate Investment Exchange & Reverse Exchange
This is land or buildings that are used for the purpose of generating a profit. Commercial property includes medical centers, office buildings, industrial property, retail stores, shopping centers, warehouses, farm land, multifamily housing buildings, etc.

Residential Homes Exchange & Reverse Exchange
A residential home is a skilled nursing unit that provides care for residents. Usually residents of a residential home require constant nursing care and are unable to independently manage daily living skills.

Real Estate Lots Exchange & Reverse Exchange
Real estate lots are tracts or parcels of land that are owned or meant to be owned. A lot is a small area of land that is empty except for, possibly, pavement, or other similar improvements.

Below are key exchange & reverse exchange real estate service company terms and descriptions that will help you navigate your way through your exchange & reverse exchange project from beginning to end.

1031 exchange
This is a 1031 tax deferral which allows taxpayers to reinvest the money from the sale of property that has been used for business or investment purposes into another property that will be used for investment or business purposes. The newly acquired piece of property must be of equal or greater value than the original piece of property.

Also known as: 1031 exchange requirements, 1031 exchange real estate, 1031 exchange property, reverse 1031 exchange, 1031 exchanges, what is a 1031 exchange, 1031 exchange rules

boot
This is the property the purchaser receives in the exchange that does not quality as a “like-kind” of property. The “boot” portion is subject to taxation.

business real estate properties
These are commercial properties that are used for the purpose of business.

Also known as: commercial real estate listings, industrial real estate, business real estate for sale, commercial real estate brokers, small business real estate, commercial real estate, free commercial real estate listings, commercial real estate for lease, buy commercial real estate, commercial real estate property, real estate listings

deferred exchanges
This is a situation in which the property owner’s tax on any gain realized in a sale is deferred until some future date.

Also known as: tax deferred exchange, 1031 exchange, 1031 exchanges, real estate exchange, tax deferred exchanges, 1031 deferred exchange, 1031 tax deferred exchange, tax deferred exchange 1031, deferred 1031 exchange

exchanger
This is the owner of the investment property who is looking to make a tax deferred exchange.

international real estate exchanges
This is a real estate transaction that involves the sale of one international property with the tax on the capital gain deferred due to the purchase of another property that is similar in value in type in exchange for the first property.

Also known as: real estate exchange, 1031 exchanges, commercial for sale, house listings for sale, property listings for sale, free home listings, real estate exchanges

like-kind property
This is the properties involved in a tax deferred exchange. They must be similar cost as well as types of property. Like-kind property cannot be your personal residence or a second home.

like-kind real estate exchanges
This is a real estate transaction that involves the sale of one property with the tax on the capital gain deferred due to the purchase of another property that is similar in value in type in exchange for the first property.

mortgage exchanges
This is a real estate transaction that involves the sale of one property with the tax on the capital gain deferred due to the purchase of another property that is similar in value in type in exchange for the first property.

private exchange real estate
This is a private real estate transaction between two parties that involves the sale of one property with the tax on the capital gain deferred due to the purchase of another property that is similar in value in type in exchange for the first property.

property exchanges
This is a real estate transaction that involves the sale of one property with the tax on the capital gain deferred due to the purchase of another property that is similar in value in type in exchange for the first property.

Also known as: property exchange, 1031 property exchanges, vacation property exchange, 1031 property exchange, property swap exchange
real estate capital gains tax service

real estate exchange services
These are the services that assist a buyer in a type of exchange of real property for real property. All types of real property are vacant land, commercial, residential, and some long term leases.

Also known as: real estate exchange, real estate 1031 exchange, 1031 real estate, 1031 real estate exchange, 1031 exchange real estate, 1031 exchanges real estate, real estate exchange 1031, real estate investment companies, exchange services

real estate swap
This is trading or swapping real estate with someone who is interested in trading their property for yours.

Also known as: real estate trade, swap real estate, house swapping, real estate listings, house swap, real estate sites

real estate trade property
This is property that is traded in an “I buy yours, you buy mine” arrangement.

real estate trades
This is trading or swapping real estate property with someone who is interested in trading their property for yours.

real property exchange
This is a real estate transaction that involves the sale of one property with the tax on the capital gain deferred due to the purchase of another property that is similar in value in type in exchange for the first property.

Also known as: 1031 property exchange, 1031 exchange properties, commercial property exchange, tax free exchange, 1031 tax exchange

relinquished property
This is a reference to the original property being sold by the owner when making a 1031 exchange.

Also known as: 1031 exchange, real estate tax free exchange, 1031 property, 1031 exchange rules, 1031 swap, real estate exchange agreement

replacement property
This property is also the “new” property that the purchaser is buying in replace of the relinquished property.

reverse exchange services
These are services that assist an owner who has purchase the replacement property before the sale of the relinquished property.

Q: Why choose a Diamond Certified exchange & reverse exchange real estate service company?
A: Diamond Certified helps you choose a exchange & reverse exchange real estate service company with confidence by offering a list of top-rated local companies who have passed the country’s most in-depth rating process. Only exchange & reverse exchange real estate service companies rated Highest in Quality earn the prestigious Diamond Certified award. Most companies can’t pass the ratings. American Ratings Corporation also monitors every Diamond Certified company with ongoing research and ratings. And your purchase is backed by the Diamond Certified Performance Guarantee. So you’ll feel confident choosing a Diamond Certified exchange & reverse exchange real estate service company.

Q: What is a 1031 exchange?
A: Section 1031 of the IRS tax code allows you to defer taxes on capital gains from the sale of investment properties if all the proceeds are quickly invested in replacement properties. Basically, you’re deferring the taxes until you sell the new property.

Q: What types of real estate qualify for 1031 exchanges? Can I do a 1031 exchange on my vacation home or rental property?
A:Raw land, or vacant land, that’s held for investment purposes qualifies for a 1031 exchange. Properties that you’re renting out qualify, but a primary residence or vacation home does not.

Q: When do I have to decide about making an exchange?
A: You have to decide to engage in an exchange before you sell the relinquished property. If you sell the property before choosing to do an exchange, you can’t defer the capital gains by investing in the new property. The transaction has been completed and you’ve acquired the tax liability.

Q: When is the 1031 exchange completed?
A: It is complete when you close on the replacement property.

Q: Do I need to have a mortgage on the replacement property?
A: After you pay off the mortgage, all of the net proceeds from the sale have to go into the replacement property. Basically that means that the new property must be of equal or greater value than the relinquished property. If you have the money to pay the difference, you don’t need to have a mortgage on the replacement property.

Q: Can the proceeds from the sale of a relinquished property be held in escrow?
A: Yes. An exchange & reverse exchange real estate service company warehouse the proceeds from the sale in client accounts and apply them to the purchase of a replacement property.

Q: Is there a limit to how long the proceeds can remain in escrow?
A: The answer is yes. There are two deadlines. One is at 45 days; another is at 180 days. You have 45 calendar days to identify one or more replacement properties. The 45 days start from the day of the sale. You have to close on one of the identified properties within 180 calendar days. You incur the capital gains tax liability from the sale if you miss either of these two deadlines. The deadlines are set in stone and can only be waived if a natural disaster affects the property. Personal emergencies do not count.