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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple><div class=WordSection1><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'>Short version: Is an offer to purchase sufficient identification of a replacement property for purposes of a 1031 exchange?<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'>Client made an offer on a house contingent upon the sale of vacant land intending to do a 1031 exchange. Seller wouldn’t come down in price so it went nowhere. The land sale subsequently closed and proceeds were received by a 1031 facilitator. Later, client made a second offer on the property but again seller wouldn’t budge.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'>Fast forward to today and seller is willing to accept client’s offer but the 45 day period expired last Friday without client submitting anything formal to the 1031 facilitator to identify this or any other replacement property. <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'>Facilitator is still holding the funds from the land sale and an employee thereof suggested back dating a new offer on the property to last Friday. That seems unethical or worse so I’m wondering if there’s another way.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'>Marc Holmes<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'>Holmes Law Group PLLC<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'>2303 W. Commodore Way, # 306<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'>Seattle WA 98199<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><a href="http://holmeslawgroup.com/"><span style='color:blue'>HolmesLawGroup.com</span></a><span style='color:#1F497D'><o:p></o:p></span></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><a href="mailto:marc@holmeslawgroup.com"><span style='color:blue'>marc@holmeslawgroup.com</span></a><span style='color:#1F497D'><o:p></o:p></span></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'>Ofc: 206-357-4224<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'>Cell: 206-849-0853<o:p></o:p></span></p><p class=MsoNormal><o:p> </o:p></p></div></body></html>