1031 Exchange Information: Property Purchase Process

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Spectrus Real Estate Group

Spectrus Real Estate – Property Purchase Process


  1. Buyer reviews property details and conducts preliminary due diligence.
    • Please contact a Spectrus representative for property details
  2. Buyer signs all purchase documents.
    • Vesting instructions
    • Purchase and sale agreement
    • Master lease view summary (if applicable)
    • Owner agreement view summary
    • Loan assumption agreement
  3. Buyer has 10 business days to perform remaining due diligence to its complete satisfaction
  4. Buyer and seller close the agreement and sign the following documents.
    • Due diligence completion acknowledgement
    • Escrow closing documents
    • 1031 accommodator documents
  5. Buyer has funds transferred, receives deed and rental payments begin.
    • Rental payments begin the month after closing and are prorated for the month of closing
    • Deed received in 60 to 90 days from the county recorder

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