Exchange Steps: 1) Exchangor signs a contract to sell the Relinquished Property. 2) Exchangor contacts Tax Advisor to discuss the tax benefits of a 1031 exchange. 3) Exchangor contacts Complete Exchange Services to act as Qualified Intermediary in the exchange. 4) Complete Exchange Services prepares the necessary exchange documents to be signed at closing, and receives the proceeds from the sale. 5) Exchangor has 45 days to identify Replacement Property(ies). 6) Exchangor signs a contract to purchase a Replacement Property and informs Complete Exchange Services of the closing date. 7) Complete Exchange Services prepares Replacement Property Exchange documents to be signed at closing, and wires the proceeds to the Closing/Escrow Agent's account. (Steps 6 and 7 are repeated until the funds have been exhausted, all identified properties are purchased or exchange period has expired.)