{
  "url": "sellingrealestateflorida.com/faq/what-are-common-pitfalls-or-mistakes-to-avoid-when-attempting-a-1031-exchange",
  "name": "What are common pitfalls or mistakes to avoid when attempting a 1031 exchange?",
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      "name": "What are common pitfalls or mistakes to avoid when attempting a 1031 exchange?",
      "@type": "Question",
      "acceptedAnswer": {
        "text": "Common pitfalls in a 1031 exchange often involve missing the strict 45-day identification or 180-day closing deadlines. Another mistake is failing to correctly identify 'like-kind' properties or taking direct possession of sale proceeds, which can invalidate the exchange. Proper preparation is key; ensure you have a clear understanding of the rules and work with experienced professionals, including a Qualified Intermediary, from the outset. Kelby Contreras emphasizes meticulous planning and can help you avoid common errors by guiding you through each step of the process.",
        "@type": "Answer",
        "description": "Avoid missing deadlines, misidentifying 'like-kind' properties, or taking possession of funds to ensure a valid 1031 exchange."
      }
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  "description": "Avoid missing deadlines, misidentifying 'like-kind' properties, or taking possession of funds to ensure a valid 1031 exchange."
}