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Post by wonderbill on Apr 21, 2016 18:15:14 GMT
Does a 1031 property make any difference to FHA financing?
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Post by Terrence on Apr 25, 2016 23:21:18 GMT
a 1031 exchange is for client buying similar use properties. Typically after 2 years of living in a residence there are no capital gains taxes to pay on a primary residence. If the client is selling an investment property and looking to purchase a primary residence I do not think that a 1031 will work for them?
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Post by wonderbill on Apr 26, 2016 15:52:33 GMT
The property being purchased is a 1031 exchange (seller side) not the buyer side. The buyer's agent was concerned that this may be an issue to get FHA financing on.
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Post by Terrence on Apr 26, 2016 16:24:14 GMT
We should not have any issues at all since.
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