A Colorado seller exchanging into Arizona can hit a Colorado withholding item at the sale, separate from the Arizona loan. The Colorado Department of Revenue says Form DR 1079 is how withholding tax is remitted on certain transfers of Colorado real property interests, and that whether any amount is withheld is determined on Form DR 1083. We do not calculate that withholding, we do not sign those forms, and we do not give tax advice. We are not a qualified intermediary.
The financing here is the acquisition loan for the Arizona building. The 45-day identification period and the 180-day exchange period are the sponsor's dates, set with the intermediary and the tax advisor. Permanent credit that cannot close inside them is a bridge conversation, with the takeout named. That structure does not make the exchange qualify. No tombstone on this site is labeled a 1031.
The Arizona loan is not the Colorado closing statement
Send the Arizona address, the purchase contract, and the date the funds have to be deployed. We will say whether life company, agency, bank, or bridge can live on that calendar. Statewide exchange financing, without the Colorado forms, is Arizona 1031.
Colorado investors who are buying Arizona property outside an exchange start at Colorado investors. We still do not tell them what Arizona income tax they owe.
No Colorado office on the replacement loan
The originator is Craig Hoebing at 7373 E Doubletree Ranch Rd #255, Scottsdale, AZ 85258. We do not claim a Colorado license. Call (480) 495-8072.
We are not a Fannie Mae DUS lender if the replacement property is apartments. Agency debt is placed with the executing lender. We are not a bank if the replacement property is a building a bank would portfolio.
Debt on the Arizona replacement property
| Source | When it fits |
|---|---|
| Arizona 1031 | Replacement-property debt for any Arizona exchange. |
| Acquisition | The purchase mechanics. |
| Colorado investors | Arizona loans when there is no exchange. |
| Bridge | A closing date permanent credit cannot meet. |