Doing A Property Swap or Property Exchange For Church.
I have a client with a church and I have a buyer who says they're interested.  My client wants to downsize and theirs wants to upsize.  The seller hasn't confirmed he wants this church in particular but the buyer mentioned they could swap properties \*simultaneously\* instead of the traditional sell then buy.

Is this common with commercial style properties?  He was suggesting the buyer could pay the difference for the larger property's extra value.

Would there be any major differences in how this is handled vs a traditional transaction?  I think the client would rather just sell and then buy as it makes the seller more flexible so I was wondering if there were any benefits in doing it this way.

Any help would be appreciated.  Thanks.
[{"id": "gc7ixzo", "text": "I imagine it would save in taxes over a more traditional sell and buy.", "replies": [{"id": "gc8celu", "text": "So would it be treated like a dual 1031 exchange?  I thought it might be but I wasn't sure if they could be done simultaneously.  \n\n\nThanks for your help.", "replies": [{"id": "gca8ptp", "text": "If the parties are both trying to complete a 1031 this seems fairly complex and you'd really want to make sure you have a specialist to handle it correctly. I don't see how you'd sequence that without someone bringing cash to the table for a reverse-1031 (someone has to go first?) and that probably defeats one of the points of the swap. I'm not a 1031 expert tho. \n\nI don't really see a tax benefit here. Most assessors will want to know how each property was valued separately in the transaction. The only benefit I see to the seller is reduced time without a church and guarantee that they'll have the next space. That said, no reason you can't do a swap or two simultaneous transactions within the same escrow.", "replies": [], "depth": 3}, {"id": "gcpwiqh", "text": "Close Property A one day then Property B next day. Traditional 1031.", "replies": [], "depth": 3}], "depth": 2}, {"id": "gce9vfj", "text": "Churches don\u2019t pay taxes. They wouldn\u2019t be subject to capital gains on sale of their property nor would they be subject to any re-assessment risk because they don\u2019t pay real estate tax either. Free ride for religious users.", "replies": [], "depth": 2}], "depth": 1}]