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1031 Exchange Assistant

Company: First American
Location: San Jose
Posted on: January 16, 2022

Job Description:

Company SummaryJoin a team that puts its People First! As a member of First American's family of companies, National Commercial Services provides single-point service for simple to multi-property/multi-state national commercial real estate transactions. Since 1889, First American (NYSE: FAF) has held an unwavering belief in its people. They are passionate about what they do, and we are equally passionate about fostering an environment where all feel welcome, supported, and empowered to be innovative and reach their full potential. Our inclusive, people-first culture has earned our company numerous accolades, including being named to the Fortune 100 Best Companies to Work For - list for six consecutive years. We have also earned awards as a best place to work for women, diversity and LGBTQ+ employees, and have been included on more than 50 regional best places to work lists. First American will always strive to be a great place to work, for all. For more information, please visit www.careers.firstam.com.Job SummaryAssist Exchange Officers and work with local and national internal and external customers to open, process, and close 1031 tax-deferred exchanges.Essential FunctionsOpen Exchanges - handle or assist the exchange officers in the following:

  • Develop proficiency in 1031 rules and ability to answer customer questions
  • Handle inquiry calls
  • Review purchase agreements and title reports
  • Prepare exchange documentation for relinquished and replacement property closings
  • Follow company's procedures and comply with Accounting Policy
    Process - handle or assist the exchange officers in the following:
    • Monitor time deadlines and closing dates
    • Handle all accounting for the exchange files
    • Manage exchange process in a timely manner
      Closing - handle or assist the exchange officers in the following:
      • Review estimated closing statements for approval
      • Handle acceptance and disbursement of funds in accordance with 1031 rules
      • Collect fee income and final signed documentation
      • Perform any other duties requested by the exchange officer in order to manage the exchange process
        Customer Service/Business Development
        • Trouble shooting and customer management
        • Follow up with existing and potential clients for increased business
        • Cooperate with exchange officer, manager and sales reps to develop businessKnowledge and Skills/Technology Used
          • Working knowledge of fundamental concepts, practices and procedures of department/field
          • Good verbal and written communication skills
          • Establishes effective working relationships at the work group levelTypical Education
            • High School diploma or equivalentTypical Range of Experience
              • 1-3 years of administrative experience
              • Experience as an escrow officer or assistant is preferred but not required#LI-RIFirst American invests in its employees' development and well-being, empowers them to provide superior customer service and encourages them to serve the communities where they live and work. First American is committed to diversity and inclusion. We are an equal opportunity employer.Based on eligibility, First American offers a comprehensive benefits package including medical, dental, vision, 401k, PTO/paid sick leave and other great benefits like an employee stock purchase plan.

Keywords: First American, San Jose , 1031 Exchange Assistant, Other , San Jose, California

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