About Iowa Exchange

One of the most important issues in executing a successful tax-deferred exchange is the choice of a Qualified Intermediary. At Iowa Exchange, we believe the role of the Qualified Intermediary in a tax-deferred exchange goes beyond just holding funds on behalf of the taxpayer and providing all exchange documentation. As the coordinator of the exchange, the Qualified Intermediary should be an expert on exchanging, thus guiding taxpayers and their advisors through the steps of a tax-deferred exchange in compliance with the Internal Revenue Code and its Regulations.

A 1973 graduate of Iowa State University and a 1984 graduate of Drake Law School, attorney Jo Kline Cebuhar opened the first closing agency in the state, Iowa Escrow, in 1988. As soon as the Section 1031 Regulations were adopted in 1991, Iowa Escrow began acting as a Qualified Intermediary and Qualified Escrow Holder.

In 1998, Jo was joined by Sheryl Empey. Sheryl's background is also in real estate closings, working for Iowa's largest real estate company, Iowa Realty, and one of Iowa's premier commercial brokers, Iowa Realty Commercial. After overseeing thousands of real estate closings, Sheryl's transition into the exchange side of the business was a natural.

In early 2007, Jo chose to devote more time to the publishing and marketing of her new book, "Last things first, just in case...The practical guide to Living Wills and Durable Powers of Attorney for Health Care". She was pleased to have Scott Modica become the new owner of Iowa Exchange. Scott brings 22 years of experience in sales and marketing to Iowa Exchange, as well as over 25 years in property management.

Iowa Exchange is operating under the same stringent policies and procedures which have existed for over 17 years. We continue to be dedicated to our clients' needs for rapid response, consistency, accuracy and professionalism. As we continue to improve our service and dedication to our clients, we have recently updated our software systems, company logo, and layout of our forms (none of the layout changes have affected the concise language of our documents, visual changes only).

There is nothing complicated or confusing about the fee structure for Iowa Exchange. The basic Exchange Fee is $1,250.00 (effective April 1, 2007). This fee includes consultation, all exchange documentation, and one receipt and disbursement of funds by Iowa Exchange, plus interest is always paid to the taxpayers on funds held more than four (4) days in the trust account. Because some exchanges involve multiple relinquished or replacement properties or even construction draws to build a replacement property, there is a $50.00 Transaction Fee for each additional receipt or disbursement. Iowa Exchange in bonded and insured to handle all types of exchanges. We remain, "the trusted name in tax-deferred exchanging since 1991!"