The Exchange Process

The exchanger enters into a Purchase and Sale Agreement with the Buyer to sell the relinquished property.
Infinity Exchange Services (IES) and the exchanger enter into an exchange agreement to retain IES as the qualified intermediary. The exchanger assigns their rights in the PSA to IES.
At Close of Escrow the proceeds are wired to IES and then IES directs the settlement officer to transfer the deed directly from the exchanger to the buyer.
The maximum amount of time the exchanger has to complete their exchange is 180 days or tax filing deadline, including extensions.
The first 45 days are known as the identification period. This is the time in which the exchanger must identify to IES which property or properties that they are going to try and purchase.
When the exchanger enters into a Purchase and Sale Agreement to acquire any of the identified replacement properties the exchanger then assigns their rights to IES.
At Close of Escrow IES wires exchange funds and directs the settlement officer to transfer the deed directly from seller of replacement property to the exchanger.
Once exchange funds have been used by the exchanger IES closes the exchange and remits documentation for tax reporting.