Steps in the Transaction

1. Owner and buyer sign sales contract for property with the above cooperation clause
   
2. Owner and/or Realtor contacts The Texas 1031 Exchange Company before closing.
   
3. Owner signs exchange documents at closing.
   
4. Sale proceeds are wired to Frost Bank.
   
5. Owner identifies replacement property within 45 days of closing.
   
6. The Texas 1031 Exchange Company closes on replacement property within 180 days of original sale or the extended due date of the return whichever comes first.
   
7. Property is directly deeded to owner and the exchange is complete.
   
8. The exchangor reports the transaction on his tax return in the year in which the relinquished property was sold.