A finder's fee is a fee paid to someone who acts as an intermediary for another party in a transaction. Finder's fees may be offered in a variety of situations. For example, an employer may pay a finder's fee to a recruitment agency upon hiring a new employee referred by that agency. A finder's fee may be paid regardless of whether a transaction is ultimately consummated.
In a real estate context, a finder's fee may be paid for locating property, obtaining mortgage financing or referring sellers or buyers. A finders 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 playa finders 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.
Because they aren't technically held by the state, real estate created overages aren't subject to those finder fee limits. In fact, they're usually not subject to any limits at all (within reason... charge 95%, and you may be asking for a lawsuit). 30-50% is standard for those who specialize in collecting those funds.
These are the funds that are created when more is bid at auction for tax foreclosure and mortgage foreclosure properties. Those overages are more often than not due back to the former owners. Unfortunately for them, most don't realize this, and walk away from their financial mess without realizing they may have a small windfall awaiting them. Then, if they don't figure it out in time, they lose it to the agency holding the funds.
Los Angeles California Agreement to Attempt to Locate Unclaimed Property of Client is a legal document that outlines the terms and conditions for a professional service provider or financial institution to search for and help recover any unclaimed property or assets belonging to the client in the Los Angeles, California region. This agreement serves as a binding contract between the client and the service provider, detailing the responsibilities of both parties in the attempt to locate and claim the unclaimed property. It aims to protect the client's interests and ensure transparency in the process. The Los Angeles California Agreement to Attempt to Locate Unclaimed Property of Client typically includes the following key components: 1. Parties Involved: This section identifies the client's name, contact information, and the service provider's details, such as their company name, address, and contact details. 2. Scope of Services: The agreement outlines the specific services that the service provider will offer to the client to discover and retrieve unclaimed property. This may include conducting research, contacting relevant government agencies and financial institutions, and submitting necessary claim applications on behalf of the client. 3. Client Authorization: This section includes the client's authorization for the service provider to act on their behalf and access necessary information to locate the unclaimed property. The client may need to provide documents such as identification, past addresses, and any relevant documentation to support the search. 4. Fees and Compensation: The agreement states the service provider's fees and compensation structure for their services, which may be a flat fee, a percentage of the recovered property, or a combination of the two. The payment terms, refund policy (if applicable), and any additional costs are also outlined in this section. 5. Confidentiality: This clause ensures the confidentiality of the client's personal information and any sensitive data shared during the search process. It also restricts the service provider's use of the client's information for any purposes other than the agreed-upon services. 6. Termination: This section specifies the circumstances under which either party can terminate the agreement. It might also include provisions for notice periods, termination fees, and the obligations of both parties upon termination. Other types of Los Angeles California Agreement to Attempt to Locate Unclaimed Property of Client may include variations based on the specific industry or sector. For example, there might be agreements tailored for financial institutions, estate planning attorneys, or independent unclaimed property recovery professionals. However, the main objective of all these agreements remains the same: to facilitate the search and potential recovery of unclaimed property for the client in Los Angeles, California.Los Angeles California Agreement to Attempt to Locate Unclaimed Property of Client is a legal document that outlines the terms and conditions for a professional service provider or financial institution to search for and help recover any unclaimed property or assets belonging to the client in the Los Angeles, California region. This agreement serves as a binding contract between the client and the service provider, detailing the responsibilities of both parties in the attempt to locate and claim the unclaimed property. It aims to protect the client's interests and ensure transparency in the process. The Los Angeles California Agreement to Attempt to Locate Unclaimed Property of Client typically includes the following key components: 1. Parties Involved: This section identifies the client's name, contact information, and the service provider's details, such as their company name, address, and contact details. 2. Scope of Services: The agreement outlines the specific services that the service provider will offer to the client to discover and retrieve unclaimed property. This may include conducting research, contacting relevant government agencies and financial institutions, and submitting necessary claim applications on behalf of the client. 3. Client Authorization: This section includes the client's authorization for the service provider to act on their behalf and access necessary information to locate the unclaimed property. The client may need to provide documents such as identification, past addresses, and any relevant documentation to support the search. 4. Fees and Compensation: The agreement states the service provider's fees and compensation structure for their services, which may be a flat fee, a percentage of the recovered property, or a combination of the two. The payment terms, refund policy (if applicable), and any additional costs are also outlined in this section. 5. Confidentiality: This clause ensures the confidentiality of the client's personal information and any sensitive data shared during the search process. It also restricts the service provider's use of the client's information for any purposes other than the agreed-upon services. 6. Termination: This section specifies the circumstances under which either party can terminate the agreement. It might also include provisions for notice periods, termination fees, and the obligations of both parties upon termination. Other types of Los Angeles California Agreement to Attempt to Locate Unclaimed Property of Client may include variations based on the specific industry or sector. For example, there might be agreements tailored for financial institutions, estate planning attorneys, or independent unclaimed property recovery professionals. However, the main objective of all these agreements remains the same: to facilitate the search and potential recovery of unclaimed property for the client in Los Angeles, California.
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.
