Delayed (Deferred) Exchange A delayed exchange strategy is used when there is a time delay between the sale of the old property and the purchase of the new property. You will have up to 180 days to purchase the new property once your old property has sold. The use of a Qualified Intermediary is required to perfect a valid delayed exchange. There are three basic steps to a delayed exchange: Sale of the old property: Before closing on the sale of the old property, you must enter into an Exchange Agreement with a Qualified Intermediary, such as 1031ae, for the facilitation of the delayed exchange. Identification of Replacement Property: You must identify your new property within 45 calendar days of the close of your old property. Purchase of the new property: Within 180 calendar days from the sale of your old property (or your tax filing date, whichever occurs first,) you must purchase the like-kind property that you previously identified. Please contact one of our exchange consultants to discuss the benefits of using a 1031 exchange. >> back to strategies