What a 1031 accommodator does
A 1031 exchange accommodator, also called a Qualified Intermediary (QI) or exchange facilitator, is the independent party that holds your sale proceeds so you never touch them. If you or your agent receive the money, even briefly, the exchange can fail. The QI signs an exchange agreement with you before your sale closes, takes the funds at closing, receives your 45-day identification, and wires the money to buy your replacement property.
Because the QI holds what is often the largest sum of money you'll ever move, choosing one is a safety decision as much as a price decision. Here's how to choose one for a Las Vegas exchange.
How to vet a Qualified Intermediary in Las Vegas
Nevada is one of the states that regulates exchange facilitators directly. Under NRS Chapter 645G, a facilitator must, among other things:
- Keep a fidelity bond (or equivalent deposit) of at least $1,000,000 (NRS 645G.320).
- Carry errors-and-omissions coverage of at least $250,000 (NRS 645G.330).
- Keep exchange funds separate from the facilitator's own money, in a federally insured financial institution (NRS 645G.350).
- Not withdraw client money without the written approval of both the facilitator and the client (NRS 645G.310).
Those rules are a floor, not a finish line. Use the checklist below with every QI you consider.
| Question to ask | Good answer |
|---|---|
| Are you in compliance with Nevada's exchange-facilitator law (NRS 645G)? | Yes, with proof of bond and E&O on request |
| How much fidelity bond and E&O coverage do you carry? | At least Nevada's minimums; larger QIs carry far more |
| Where will my money sit, and in whose name? | A segregated, federally insured account (or qualified trust) with dual signatures |
| Who can move my funds? | Only with my written authorization |
| What do you charge, and who keeps the interest? | A clear flat fee; interest terms in writing |
| How many exchanges did you close last year? | A real number, plus references |
| Do you handle reverse and improvement exchanges? | Yes, if there's any chance you'll need to buy first or build |
| How do I deliver my 45-day identification? | A simple signed form, confirmed in writing when received |
| How fast do you respond near deadlines? | Same day, with a named contact |
| Can you open the exchange before my sale closes? | Yes; the agreement must be signed before closing |
Want this as a printable checklist? Download the free QI Selection Checklist (PDF).
What a 1031 accommodator costs, and when to hire one
Most QIs charge a flat fee for a standard delayed exchange, commonly in the high hundreds to low thousands of dollars, with added charges for each extra property. Reverse exchanges and build-to-suit (improvement) exchanges cost substantially more because the QI or an affiliate takes title to property. Price matters, but a slightly higher fee from a well-bonded, experienced QI is cheap insurance on a seven-figure balance.
When to hire your accommodator
Before your sale closes. Many sellers wait until escrow instructions ask for the QI's name; that works, but it leaves no time to vet anyone. Choose your QI when you list the property, and give your escrow officer the QI's contact information as soon as you're in contract.
How we work with your QI
Once you've picked a QI, we coordinate the documents both closings need, give your QI clean property descriptions for the 45-day identification, and keep everyone working from the same deadline calendar.
1031 Accommodator Las Vegas FAQ
Tell us where you are in the sale. A licensed Nevada broker responds within one business day, usually the same day. We coordinate with your QI, CPA, and attorney; we don't replace them.