What are Important Traits in a QI Firm?

Choosing the wrong QI firm to handle your 1031 exchange transaction can be very costly. You should never select a QI firm solely based on their QI fees and charges.

You should always make sure that the QI firm select is able to take care of all the critical fiduciary responsibilities necessary throughout your transaction. All credible QI firms will be able to cover all the fees required, that they can properly complete all the documentation necessary, and they should be able to handle all the banking services required in conjunction with the exhange.

Key Traits in a QI Firm

  • Properly prepare all documentation required for the exchange
  • Provide banking services during the exchange
  • Educate the person in the steps required to complete an exchange
  • Provide updates and feedback throughout the process
  • The ability to handle 1031 exchanges with more than 2 properties involved