Closing-professional coordination
1031 exchanges for closing attorneys and title companies
The closing professional and qualified intermediary coordinate documents, notices, settlement statements, proceeds, and verified wiring instructions before each transfer.
Professional coordination
Clear instructions before funds move.
North Oak Exchange prepares the exchange agreement, assignments, notices, and closing instructions. The closing professional remains responsible for its own title, settlement, legal, and escrow duties and communicates directly with the QI about the transaction documents and verified fund flow.
Coordinated workflow
What happens after the referral.
- 01
Open the exchange file
After client authorization, send the executed contract, vesting, property description, estimated statement, closing contacts, and expected transfer date.
- 02
Reconcile the documents
Review the exchange assignment, notice, and closing instructions; resolve names, dates, title, or settlement questions before execution.
- 03
Close the relinquished property
Follow the verified instructions directing net exchange proceeds to the QI and send the final statement and evidence of transfer.
- 04
Coordinate identification and acquisition
The QI receives the exchanger's written identification while the closing team prepares the replacement-property file.
- 05
Close the replacement property
Review the QI's acquisition documents and funding authorization, verify the wire, and return the final closing record.
Working checklist
Information the closing team and QI should reconcile.
Download the closing checklist- Exact exchanger name and current vesting.
- Property description, contract, and scheduled closing date.
- Purchase price, debt payoff, costs, and estimated net proceeds.
- Signed exchange agreement, assignments, notices, and instructions.
- Settlement-statement treatment and QI disbursement direction.
- Independently verified wiring instructions and closing contact.
- Final signed statement and evidence of each transfer.
Protect the transaction
Pause before an avoidable closing error.
Do not disburse exchange proceeds to the exchanger or make the funds subject to the exchanger's unrestricted control.
Do not rely solely on an email containing initial or changed wiring instructions. Verify through a known, trusted telephone number.
Refer taxpayer, entity, related-party, identification, tax, and legal questions to the exchanger's independent advisers.
Professional resource
Keep the exchange conversation moving.
Download the branded guide, share it with your transaction team, and call North Oak Exchange before the relinquished property closes.
Professional FAQs
Common referral questions
When does the QI need the sale contract?
As early as possible and before the relinquished-property closing so the exchange documents and instructions can be prepared and reconciled.
Who receives the relinquished-property proceeds?
In a properly structured deferred exchange, the closing professional directs the net exchange proceeds to the QI under the exchange documents rather than to the exchanger.
What should happen if wire instructions change?
Stop and independently verify the change by calling a known, trusted telephone number. Do not rely solely on the email or message containing the changed instruction.
What should be returned to the QI after closing?
The final signed settlement statement and evidence of transfer, plus any other record or unused-funds information requested in the closing instructions.
A client may have a taxable sale?
Make the introduction before closing.
North Oak Exchange will explain the QI process, gather the transaction details, and coordinate directly with the client and authorized professionals.
General educational information only—not individualized tax, legal, accounting, investment, brokerage, title, settlement, or real-estate advice. Each client should consult independent advisers.