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.
The Salt Lake Utah Agreement to Attempt to Locate Unclaimed Property of Client is a legal contract formed between an individual or company (referred to as the "Client") and a professional service provider specializing in the identification and retrieval of unclaimed property (referred to as the "Provider"). This agreement aims to establish a mutual understanding and formalize the terms by which the Provider will assist the Client in locating and recovering any unclaimed assets or funds that may be rightfully belonging to the Client. In this agreement, the Provider's primary objective is to conduct a diligent search for unclaimed property on behalf of the Client, utilizing various databases, public records, and proprietary techniques. The Provider will employ their expertise and resources to identify potential unclaimed funds or assets, such as forgotten bank accounts, insurance policies, dividends, estates, or other assets that have remained unclaimed and require proper restitution. The Salt Lake Utah Agreement to Attempt to Locate Unclaimed Property of Client typically includes comprehensive provisions outlining the roles and responsibilities of both parties. It defines the scope of the search, duration of the agreement, fees or commissions payable to the Provider, and any additional terms specific to the engagement. The agreement may also address confidentiality, data protection, and compliance with applicable laws and regulations concerning unclaimed property. Under this agreement, there might be different types or variations of engagement, including: 1. Standard Salt Lake Utah Agreement to Attempt to Locate Unclaimed Property of Client: This is a general agreement template used for most cases involving the search and retrieval of unclaimed property. It covers the standard terms and conditions applicable to such engagements. 2. Salt Lake Utah Agreement to Attempt to Locate Inheritance or Estate Unclaimed Property: This variation of the agreement is specific to cases where the Client suspects there might be unclaimed assets associated with an inheritance or an estate. It will define the additional provisions and considerations relevant to this particular scenario. 3. Salt Lake Utah Agreement to Attempt to Locate Corporate Unclaimed Property: This type of agreement is tailored for companies or organizations that suspect they have unclaimed property such as funds, stocks, or intellectual property rights that may have gone unnoticed over time. It addresses the distinct nature of corporate assets and outlines the process for recovery. 4. Salt Lake Utah Agreement to Attempt to Locate Insurance Unclaimed Property: This agreement variation is designed for individuals or organizations with unclaimed insurance policies or benefits. It includes specific terms pertaining to insurance-related assets and outlines the necessary steps for the Provider to identify and assist with the recovery process. By entering into the Salt Lake Utah Agreement to Attempt to Locate Unclaimed Property of Client, both the Client and the Provider can establish a legal and professional relationship with a clear understanding of the objectives, rights, and obligations necessary to pursue the identification and retrieval of unclaimed property.The Salt Lake Utah Agreement to Attempt to Locate Unclaimed Property of Client is a legal contract formed between an individual or company (referred to as the "Client") and a professional service provider specializing in the identification and retrieval of unclaimed property (referred to as the "Provider"). This agreement aims to establish a mutual understanding and formalize the terms by which the Provider will assist the Client in locating and recovering any unclaimed assets or funds that may be rightfully belonging to the Client. In this agreement, the Provider's primary objective is to conduct a diligent search for unclaimed property on behalf of the Client, utilizing various databases, public records, and proprietary techniques. The Provider will employ their expertise and resources to identify potential unclaimed funds or assets, such as forgotten bank accounts, insurance policies, dividends, estates, or other assets that have remained unclaimed and require proper restitution. The Salt Lake Utah Agreement to Attempt to Locate Unclaimed Property of Client typically includes comprehensive provisions outlining the roles and responsibilities of both parties. It defines the scope of the search, duration of the agreement, fees or commissions payable to the Provider, and any additional terms specific to the engagement. The agreement may also address confidentiality, data protection, and compliance with applicable laws and regulations concerning unclaimed property. Under this agreement, there might be different types or variations of engagement, including: 1. Standard Salt Lake Utah Agreement to Attempt to Locate Unclaimed Property of Client: This is a general agreement template used for most cases involving the search and retrieval of unclaimed property. It covers the standard terms and conditions applicable to such engagements. 2. Salt Lake Utah Agreement to Attempt to Locate Inheritance or Estate Unclaimed Property: This variation of the agreement is specific to cases where the Client suspects there might be unclaimed assets associated with an inheritance or an estate. It will define the additional provisions and considerations relevant to this particular scenario. 3. Salt Lake Utah Agreement to Attempt to Locate Corporate Unclaimed Property: This type of agreement is tailored for companies or organizations that suspect they have unclaimed property such as funds, stocks, or intellectual property rights that may have gone unnoticed over time. It addresses the distinct nature of corporate assets and outlines the process for recovery. 4. Salt Lake Utah Agreement to Attempt to Locate Insurance Unclaimed Property: This agreement variation is designed for individuals or organizations with unclaimed insurance policies or benefits. It includes specific terms pertaining to insurance-related assets and outlines the necessary steps for the Provider to identify and assist with the recovery process. By entering into the Salt Lake Utah Agreement to Attempt to Locate Unclaimed Property of Client, both the Client and the Provider can establish a legal and professional relationship with a clear understanding of the objectives, rights, and obligations necessary to pursue the identification and retrieval of unclaimed property.
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.
