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A forward exchange (also called a delayed or deferred exchange) is the most common type of 1031 exchange, in which you first sell your relinquished property and then acquire your like-kind replacement property afterward, identifying the replacement within 45 days and closing on it within 180 days of the sale, with a qualified intermediary holding the proceeds in between.

1. Qualified Intermediary Fee: $1,500
2. Bank Fee: The first $750 of any interest accrued from relinquishment to replacement. 
3. Additional Property Fee: $300 for any additional relinquished or replacement property

A reverse exchange is a 1031 exchange in which you acquire the replacement property before selling your relinquished property, with an exchange accommodation titleholder temporarily holding title to one of the properties (since you cannot own both at once) while you complete the sale, still subject to the 45-day identification and 180-day closing deadlines.

1. Qualified Intermediary Fee: $5,500
2. Bank Fee: The first $750 of any interest accrued from replacement to relinquishment. 
3. Additional Property Fee: $300 for any additional relinquished or replacement property