Purchasing Real Estate in Your IRA

Purchasing Real Estate in Your IRA

  1. Identify the property you wish to purchase.
    • Make sure no disqualified persons will be renting from you, such as but not limited to, children, spouse, grandchildren, grandparents and parents.
  2. Complete and return a Real Estate Purchase Kit – Watch Instructional Video HERE.
  3. Supply our Transaction Department with the contact information of your realtor, title agent, and lender to ensure proficient communication between all parties involved.
  4. Work with your real estate and title agents to show that you are purchasing the property within your IRA. Remember, your IRA is the buyer, not you as an individual.
    • Vesting must read: Mountain West IRA, Inc. FBO (Your Name) IRA.
    • If partnering, the vesting must read: Mountain West IRA, Inc. FBO (Your Name) IRA, an undivided ___%
    • Any buyer address information must be our office address:  10096 W. Fairview Ave., Ste. 160 Boise, ID 83704 (Including Warranty Deed).
  5. If earnest money needs to be sent, we will need the items below:
    • Purchase/Sale Agreement
    • Direction of Investment Form indicating the amount that needs to be sent.
      • Please complete all information in Section C4, “Earnest Money”, on the Direction of Investment form.
    • Please remember these items must be received at least 2 business days prior to the date you wish funds to be sent.
  6. Once the offer has been accepted, we will need the following items before we can fully fund the purchase:
    • Closing documents (including the title commitment and deed)
    • Proof of property insurance
    • Please remember these items must be received at least 2 business days prior to the date you wish funds to be sent.
  7. All closing documents, purchase/sell agreement, etc. must be notated “Read and Approved by: (Your Name)” with your signature and date on each applicable page.  
    • Please do not sign where a signature is required, as Mountain West IRA will sign on behalf of your IRA.
  8. After you have reviewed and signed “Read and Approved by: (Your Name)”, please send all closing documents, purchase/sell agreement etc. to Mountain West IRA.
  9. Once we have received the 100% complete, correct and required documents that have been “Read and Approved,” an authorized signer from our office will sign on behalf of your IRA as the buyer of the property. We will then forward all necessary documents on to the Title Company to complete the purchase.  Incomplete documentation may result in processing delays.

Please note you will need to maintain a sufficient cash balance in your IRA to pay expenses related to this property (property taxes, maintenance, improvements, etc.), as all expenses must be paid from your IRA.

Required forms and documents can be mailed, faxed or sent as an email attachment to:
Mountain West IRA
10096 W. Fairview Ave., Ste. 160
Boise, ID  83704
Fax: (208) 376-4567 – Attention Transactions Department
Email: Transactions@MWIRA.com