By Shannon Kinnard, VP, Exchange Officer, Genesis Bank Exchange
When looking for a Qualified Intermediary (“QI”) to handle your 1031 exchange, there are some essential factors to consider, such as the security and safety of your funds, quality of customer service, and expertise. Here are some of the ways we at Genesis Bank Exchange set ourselves apart:
Security and Safety:
In an exchange, you’re entrusting the QI to hold your funds so their security is paramount. At Genesis Bank Exchange, we take pride in being both a QI and a division of Genesis Bank. As a division of a bank, we offer unparalleled safety and security for your funds in a few different ways:
Customer Service:
Your QI’s quality of service and responsiveness is essential, especially when timing in real estate transactions can make all the difference. At Genesis Bank Exchange, we pride ourselves on being transparent and communicating efficiently and effectively. We’re here to answer your questions and ensure your 1031 exchange process runs smoothly.
Expertise:
We offer forward, reverse, improvement/build-to-suit, and installment sale exchanges to meet your 1031 exchange needs. We’ve helped our clients successfully complete a variety of complex transactions. While we don’t offer tax advice, we work with and can refer you to tax experts with decades of 1031 exchange experience to further support you in accomplishing your 1031 exchange goals. Finally, being a division of Genesis Bank, there is no “middleman” between you and the bank holding your funds – just bank experts here to facilitate a seamless process.
Choosing the right qualified intermediary is crucial to the 1031 exchange process. You can connect with the Genesis Bank Exchange team at 800.797.1031 or by visiting our website: https://www.mygenesisbank.com/1031Exchange.