[WSBARP] 721 question! Anyone?

[Tom Lee]

A client is selling a commercial property using a 721 exchange. Transaction almost complete, but closing statement held up due to the buyer having a financing hiccup. Apparently client already signed over the SWD. All parties intend and expect the transaction to go through; however, client concerned because the 721 people are saying client will have to re-sign all the paperwork if this transaction is held up another month. Client now concerned about the lay of the land for him with the transaction in limbo, especially concerned about capital gains implications.

Does anyone have experience navigating 721 exchange deals that could chime in and/or be a referral? Client wants a direct referral. Self-referrals are welcome.

TOM LEE
Attorney
KERR FERGUSON LAW, PLLC | Attorneys at Law | A Professional Limited Liability Company
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