Delayed & Simultaneous Forward ExchangesFees $300.00 fee to set-up the exchange and the disposition of one relinquished property, plus $300.00 fee for each additional relinquished or replacement property; additional value-based set-up fee for each relinquished property with a sales price of $300,000 or more per schedule below:
For example, the fees for an exchange with one relinquished property valued at $350,000, and one replacement property, would total $650.00 ($300.00 set-up fee, plus $50.00 value-based fee, plus $300.00 for one replacement property).
Interest All exchanges with at least $100,000 of exchange proceeds will earn interest at a rate equal to a portion of the 90 day Treasury Bill rate (as published on the first Tuesday of each month in the Wall Street Journal), determined by the current balance of exchange proceeds on the date of accrual per schedule below:
For example, assuming a Treasury Bill Rate of 1.5%, an exchange proceeds balance of $250,000 would earn interest at a rate of 1.00%/annum (2/3rds of 1.50%). Improvement & Reverse Exchanges$2,500.00 base fee for the exchange of one relinquished property for one replacement property, plus an additional fee based on the value of the property which is improved or to which title is held per schedule below; $300.00 for each additional relinquished or replacement property. Interest is paid on exchange proceeds held during improvement and reverse exchanges as described above for forward exchanges.
For example, the fee for an improvement exchange with one relinquished property and one replacement property, and a completed improved value of $300,000, would be $4,000 ($2,500 + $1,500 (.5% of $300,000)). Please note that the fee for accommodating Improvement and Reverse Exchanges may be adjusted based upon the complexity of the transaction, financing arrangements and the length of time National 1031 Exchange Service ("National 1031") holds title to property involved in the exchange. Promissory Notes, Deeds of Trust, Mortgages & Other Financing Instruments An minimum fee of $300.00 in addition to any other fees will be charged for any forward exchange in which National 1031 holds a promissory note, deed of trust or mortgage, or is otherwise involved in the financing of any property involved in the exchange.
Delayed & Simultaneous Forward Exchanges$600.00 fee to set-up the exchange and the first disposition of relinquished property, plus an additional value-based set-up fee for relinquished property or properties in excess of $300,000 value per schedule above under Real Estate Exchanges; $300.00 fee for each additional disposition of relinquished property; $300.00 fee for acquisition of replacement property with a closing, or $150.00 fee for disbursements of exchange proceeds to acquire replacement personal property without a closing. Interest is paid on exchange proceeds held during personal property exchanges as described above under Real Estate Exchanges.Improvement Exchanges & Reverse/Title Holding ExchangesFees for Improvement and Reverse/Title Holding Exchanges of personal property will be quoted on an individual transaction basis. GENERAL PROVISIONS Costs & ExpensesAll reasonable costs and expenses incurred by National 1031 in participating in the closing of properties that are part of an exchange are charged to the Exchangor. These expenses typically include wire transfer fees charged by financial institutions, and expenses for the delivery of documents. Typical costs range from $15.00 to $40.00 depending on which property, relinquished or replacement, is being closed.Payment, Cancellation Policy & Redrafting FeeExchange Fees payable to National 1031 are paid upon the closing of the first Relinquished Property or, in a reverse or improvement exchange, upon the closing of the first property involved in the exchange. After the preparation of documentation for an exchange has begun, and the exchange is subsequently canceled for any reason, then a minimum cancellation fee will be charged as follows: $300.00 for delayed and simultaneous exchanges of real property; $600.00 for delayed and simultaneous exchanges of personal property; $750.00 for improvement or reverse exchanges of real or personal property. However, in the event that the Exchangor later exchanges the same property using the same type of exchange within 90 days after the date of cancellation, then the cancellation fee paid will be credited towards the fee charged for such exchange. Reasonable fees may be charged for additional services provided by National 1031 in excess of those typically provided in similar exchanges and for the redrafting of completed documents necessitated by changes in the transaction.Deposit of Exchange ProceedsAll funds held for Exchangors by National 1031 are deposited with Community Banks of Colorado and/or other financial institutions, and are fully deposit insured by FDIC, SPIC and/or private deposit insurance. All funds are separately accounted for and may be commingled with funds held on behalf of other Exchangors.Fees and policies subject to change at any time without notice. |
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SCHEDULE OF FEES & COSTS
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