Northern Bank launches ad campaign on Red Sox Radio Network
Radio advertisements touting Northern Bank client “success stories” begin airing today during all Boston Red Sox home game broadcasts on WEEI-FM Boston (93.7).
Exchanging in a “hot” real estate market is just as relevant today, as it was in 2017 when Northern 1031 Exchange Senior Vice President, John Starling, wrote this article for the New England Real Estate Journal. Selling a property in the current hot real estate market is the easy part. Buyers are plentiful and offers are high. However, securing a replacement property to buy in a hot market, with the added pressure of a 45-day identification period and 180 exchange, is where it gets tricky. With quality properties going over asking price and often in bidding wars amongst multiple buyers, securing a replacement property within the allotted identification period can be a real challenge.
In this article, Starling offers a possible solution to consider. He details the differences between the forward exchange and the reverse exchange. He explains that a reverse exchange allows a real estate investor to find and purchase a replacement property before selling the property to be relinquished, which is a key benefit for investors in a hot real estate market. He discusses the safe harbor guidelines for a reverse exchange and how to structure one properly so that you meet the IRS guidelines.
He also addresses the risks you need to consider when choosing a reverse exchange structure and how to weigh both the risks and the benefits; the biggest benefit being, reverse exchanges allow investors more time to locate their desired replacement property. Lastly, Starling emphasizes that using a reverse exchange can help an investor secure the perfect replacement property, so they can preserve their profits and build their wealth faster.
Radio advertisements touting Northern Bank client “success stories” begin airing today during all Boston Red Sox home game broadcasts on WEEI-FM Boston (93.7).
Northern Bank is closely following the recent news involving other banks. While we can’t speak for any other bank, we can say with confidence that Northern Bank has always been guided by common sense, avoiding pitfalls that are reported to be affecting others.
Northern Bank, a full-service community and business bank, today announced that it would begin accepting applicants for its annual $5,000 college scholarship award.
Northern Bank is a full-service bank dedicated to providing practical, common sense financial solutions to help our customers live their lives and grow their businesses. From deposit products to loans to payment and collections services, we work hands-on with our entrepreneurial customers, both locally and across the country, to provide the financial support they need to realize their personal and business goals. Founded in 1960, Northern Bank has assets of $2.87 billion with 13 locations serving communities throughout Middlesex County. Northern Bank is a Member of the FDIC, and an Equal Housing Lender.
Contact us now to learn more about how Northern Bank can help you realize your goals and dreams.