1031 Exchange: Our Advantages

Financial Security

  1. First American is the nation's leading family of real estate and financial service companies.
  2. Each transaction is backed by the full assets and resources of the industry’s giant, First American Title Insurance Company, with annual revenues in excess of $2 billion.
  3. First American holds the longest sustained growth record in the U.S.
  4. First American is rated "A" by A.M. Best Co. and A or better by other recognized rating agencies.
  5. First American Exchange's strength, policies and procedures provide the strongest defense against challenges to the validity of the exchange.
  6. The First American Exchange process helps shield principals from additional liability by alerting them to important dates and applicable issues.
  7. First American maintains a $22.5 million Errors & Omissions (E&O) policy.
  8. First American maintains a $12 million Fidelity Bond.
  9. First American chooses to have an independent CPA reconciliation of each exchange account monthly.
  10. The full assets and resources of First American Title back First American Exchange's "Closing Protection Guarantee". It guarantees the timely availability of funds on deposit.
  11. When appropriate, proceeds are deposited in FDIC-regulated interest bearing accounts.
  12. Holding accounts offer the highest possible rate of return for funds on deposit.
  13. Provides a secure, safe harbor for exchange proceeds.
  14. Transaction funds are maintained in insured, audited accounts requiring dual signatures for any disbursement.
  15. First American Exchange is structured to simplify the exchange process, and its service fee includes:
    • Complete exchange agreement (simultaneous or delayed)
    • Assignments
    • Notices and other necessary documentation
    • Forms to complete the exchange
    • Complete and timely tax reconciliation
    • Closing Account Summary
    • Wire fund transfers
    • Bank account service fees
    • Monthly exchange maintenance fees
    • Overnight mail/delivery charges
    • Up to two replacement properties (small charge for processing additional properties)
  16. State-of-the-art computer system and task-specific forms.
  17. Fast generation of specialized documents.
  18. Documentation of a defensible paper trail easy to use for your CPA.
  19. Provides applicable language for the sale contracts on relinquished and/or replacement property.
  20. Staff is comprised of senior exchange officers who understand the exchange and escrow process and is backed by in-house legal staff.
  21. First American Exchange is particularly adept at anticipating the needs of parties to the exchange.
  22. First American Exchange works closely with your legal and tax advisors to make sure the transaction is properly structured.
  23. Conference room facilities are available for the convenience of the parties.
  24. Exchangors receive convenience, security, and peace of mind.
  25. Investors receive personalized service from an expert in the exchange process.
  26. First American Exchange will facilitate property transfers and closings.
  27. The First American family of companies has over 4,300 offices and agents in the United States and overseas.
  28. First American has Exchange Centers serving every region of the country and can handle transactions virtually anywhere in the USA.
  29. First American Exchange is accomplished at handling multiple relinquished and replacement properties.
  30. First American Exchange can coordinate out of state property transfers.
  31. First American Exchange provides a detailed exchange tax statement on completion.

 
 
 
For General Inquiries Please call 1 866 FIRSTNY (1.866.347.7869)