Real Estate Transfer Withholding Requirements
Transfer withholding requirments incur a 3.5 % fee of the houses sale price, but can be waived if the sale is part of a 1031 exchange.
My question is... With the 1031 exchange, If i were to be in the business of 'subject to's' form of buying can i use PART of the money from the 1031 account to use as down payment/ernest payment/option payment to buy that property or multiple properties? OR do i have to use all of the money in a lump sum to buy a house in the traditional way, of the same value?
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