David Moore of Equity Advantage, nationally recognized leader in 1031 Exchange facilitation, answers how you can make sure that your exchange accommodator is insured. Making sure your investment is secure is key, and knowing your 1031 exchange accommodator is both qualified and covered is crucial to ensuring safe investments.
Anyone reputable in the business is going to be part of the Federation Exchange of Accommodators, which has a code of ethics. You have to have bonding and E&O. So the easiest way to find out is just check to see if they’re a member of the Federation of Exchange Accommodators (www.1031.org) and then you can ask your accommodator for a copy of their fidelity bond and whether they have E&O also. Those two things are what you want to confirm. – David Moore, Equity Advantage
If you’re thinking of selling your property, work with a broker who understands 1031 exchanges. Call René Nelson at 541-912-6583.