What should I look for when I need to find a Qualified Intermediary? Why are they so important?
EXPERIENCE. Ask the Intermediary how many exchanges they have handled. If the answer is not in the thousands, find another Intermediary. It can be very expensive if you have to pay an attorney to research the law and draft your exchange documentation from scratch.
Equity Exchange LLC has been in business since 1994 and specializes in handling your exchange efficiently and properly.
COMPETITIVE PRICING. You need not pay a premium to use one of the best Intermediaries in the country for your exchange.
All of the exchanges we facilitate receive individualized, personal attention to detail. Our one-time flat fee covers the sale of one Relinquished Property and the purchase of one Replacement Property. We charge only $450 for each additional Replacement Property. We never charge extra for rush orders, notaries, postage fees or facsimile fees. Once our documents are delivered to escrow and prior to closing, should an Exchanger find it necessary to cancel, Equity Exchange LLC will charge only a $250 cancellation fee to cover our costs for document preparation and delivery.
SECURITY OF FUNDS. Ask detailed questions on how your money is being held.
We routinely deal with Fifth Third Bank. Exchange proceeds are deposited and maintained in individual accounts and are titled in Equity Exchange LLC’s name for the benefit (fbo) the Exchanger, and Exchangers receive monthly statements directly from the bank. Checks are not ordered, except for in the case of Improvement Exchanges. Exchange proceeds accounts are always FDIC insured. Exchangers may also select a bank of their own choice. The exchange accounts must be established in the same fashion as described above. There is a $175 additional fee for selecting this option.