How long does it take to make a purchase with a Self-Directed IRA?
That depends. Working with a traditional Self-Directed IRA Custodian who is not familiar with owning real estate in your IRA can be very difficult. With a traditional Self-directed IRA Custodian, you typically cannot have any personal interaction with the IRA funds. You need to petition the IRA custodian to make an investment on their behalf. Banks move at a pace even slower than the investment community and it can take months to complete a transaction. On the other hand, the custodians that regularly work with ACE have extensive experience in the purchasing of real estate with retirement funds, so they can move quickly and efficiently! It typically only takes a matter of a few days to set-up a new custodian and then two to three weeks to actually verify and move the funds from your current custodian.
Related Questions
- I don’t have enough money in my IRA to purchase a piece of property outright. Can my Self-Directed Retirement Solutions, LLC get a loan and use my IRA money as the down payment?
- I’m trying to purchase real estate within a self-directed IRA. Does the property have to be owned free & clear, or can it have a mortgage?
- How long does it take to make a purchase with a Self-Directed IRA?
