In a real estate context, a finder's fee may be paid for locating property, obtaining mortgage financing. or referring sellers or buyers. A finder's fee is money paid to a person for finding someone interested in selling or buying property. To conduct any negotiations of sale terms, the finder may be required to be a licensed broker or he violates the law. However, state laws, which vary by state, may also provide an exemption for certain individuals, allowing them to be compensated without the necessity of licensure. For example, one state's law allows an exemption for either a property management firm or an owner of an apartment complex to pay a finder’s fee or referral of up to $50 to a current tenant for referring a new tenant. The fee can be in the form of cash, a rental reduction or some other thing of value. The party claiming compensation under this exemption is not allowed to advertise for prospective tenants.
Wake North Carolina Finder's Fee Agreement Regarding Real Property Sales is a legal contract between a finder and a party seeking property in Wake County, North Carolina. This agreement establishes the terms and conditions under which the finder will receive a fee for successfully locating and introducing a buyer or seller to a real estate transaction within the specified area. The purpose of this agreement is to provide clarity and protection for both parties involved in the real estate transaction. It outlines the responsibilities, obligations, and compensation arrangements for the finder, ensuring a fair and transparent process. The Wake North Carolina Finder's Fee Agreement Regarding Real Property Sales includes several key components, such as: 1. Parties Involved: This section identifies the finder, who is typically an individual or a company specializing in locating potential buyers or sellers, and the party seeking the property. It includes their legal names, addresses, and contact information. 2. Scope of Services: This section outlines the specific services to be provided by the finder. It may specify whether the finder will focus on residential, commercial, or industrial properties, or any combination thereof. Additionally, it may state whether the finder will exclusively represent the buyer or seller, or act as a dual agent. 3. Compensation and Fees: This section details the finder's fee structure. It may include a fixed fee, a percentage-based commission, or a combination of both. The agreement might also mention any additional expenses, such as marketing or advertising costs, that the finder may be entitled to reimbursement for. 4. Duration and Termination: This clause specifies the duration of the agreement and the conditions under which either party can terminate it. For instance, termination may occur upon successful completion of the real estate transaction or upon a specified time period elapsing. 5. Confidentiality and Non-Disclosure: This section ensures that the finder maintains confidentiality regarding any sensitive information obtained during the process and prohibits them from disclosing such information without proper consent. 6. Governing Law and Jurisdiction: The agreement may state that it is governed by the laws of the State of North Carolina, with any legal disputes being resolved within the state's courts. 7. Additional Provisions: This section allows for any additional terms or conditions that may be necessary or relevant to the agreement. There may be different types of Wake North Carolina Finder's Fee Agreement Regarding Real Property Sales based on various factors, such as the type of property (residential, commercial, industrial), the exclusivity of the finder's representation, the specific area within Wake County, and the duration of the agreement. These types can be further customized to meet the specific needs of the parties involved in the real estate transaction.
Wake North Carolina Finder's Fee Agreement Regarding Real Property Sales is a legal contract between a finder and a party seeking property in Wake County, North Carolina. This agreement establishes the terms and conditions under which the finder will receive a fee for successfully locating and introducing a buyer or seller to a real estate transaction within the specified area. The purpose of this agreement is to provide clarity and protection for both parties involved in the real estate transaction. It outlines the responsibilities, obligations, and compensation arrangements for the finder, ensuring a fair and transparent process. The Wake North Carolina Finder's Fee Agreement Regarding Real Property Sales includes several key components, such as: 1. Parties Involved: This section identifies the finder, who is typically an individual or a company specializing in locating potential buyers or sellers, and the party seeking the property. It includes their legal names, addresses, and contact information. 2. Scope of Services: This section outlines the specific services to be provided by the finder. It may specify whether the finder will focus on residential, commercial, or industrial properties, or any combination thereof. Additionally, it may state whether the finder will exclusively represent the buyer or seller, or act as a dual agent. 3. Compensation and Fees: This section details the finder's fee structure. It may include a fixed fee, a percentage-based commission, or a combination of both. The agreement might also mention any additional expenses, such as marketing or advertising costs, that the finder may be entitled to reimbursement for. 4. Duration and Termination: This clause specifies the duration of the agreement and the conditions under which either party can terminate it. For instance, termination may occur upon successful completion of the real estate transaction or upon a specified time period elapsing. 5. Confidentiality and Non-Disclosure: This section ensures that the finder maintains confidentiality regarding any sensitive information obtained during the process and prohibits them from disclosing such information without proper consent. 6. Governing Law and Jurisdiction: The agreement may state that it is governed by the laws of the State of North Carolina, with any legal disputes being resolved within the state's courts. 7. Additional Provisions: This section allows for any additional terms or conditions that may be necessary or relevant to the agreement. There may be different types of Wake North Carolina Finder's Fee Agreement Regarding Real Property Sales based on various factors, such as the type of property (residential, commercial, industrial), the exclusivity of the finder's representation, the specific area within Wake County, and the duration of the agreement. These types can be further customized to meet the specific needs of the parties involved in the real estate transaction.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés.
For your convenience, the complete English version of this form is attached below the Spanish version.