What are the costs of a reverse exchange?
Because the IRS rules require RES to report its ownership of the “parked” property as the actual taxpayer, certain transaction costs are inherent. These costs include transfer taxes, recording fees, mortgage taxes, lender charges, other similar assessments (which vary from state to state), escrow and title fees, legal and accounting fees, and the costs of creating a Special Purpose Entity (“SPE”) to hold the parked property. The accommodation fee (in addition to these costs) will vary based on the size and complexity of the transaction and whether non-Safe Harbor or construction issues are involved. Call us toll-free at 1-866-276-1031 to discuss your transaction and our fees.
