Hawaii Finder’s Fee Agreement Regarding Real Property Sales

• Category: Real Estate - Contracts
• State: Multi-State
• Control #: US-0154BG
• Format: Word; Rich Text

Description

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. Hawaii Finder's Fee Agreement Regarding Real Property Sales is a legally binding document outlining the terms and conditions agreed upon between a real estate finder (also known as a locator) and a property seller or buyer. This agreement comes into play when the finder assists in connecting a potential buyer with a seller or vice versa, leading to a successful real property transaction in Hawaii. This fee-based agreement ensures that the finder receives compensation for their services rendered in facilitating the property sale. The Hawaii Finder's Fee Agreement Regarding Real Property Sales typically includes several key provisions and may vary based on the specific circumstances of the agreement. Here are some relevant types of such agreements: 1. Buyer's Finder's Fee Agreement: This type of agreement is applicable when a finder helps a buyer locate a suitable property in Hawaii. The agreement specifies the finder's fee as a percentage or a fixed amount of the final transaction value. It outlines the payment terms, including whether the fee is due upon contract execution or closing. 2. Seller's Finder's Fee Agreement: In this scenario, a finder assists a seller in identifying potential buyers for their Hawaii property. The agreement details the finder's compensation, typically a commission based on the property's selling price or a predetermined amount. It clarifies when the fee is payable, such as upon the property's sale or closing. 3. Dual Agency Finder's Fee Agreement: This type of agreement arises when a finder represents both the buyer and the seller in a real property transaction. It specifies the finder's compensation, often with separate fees for each party. The agreement delineates the finder's obligations towards both parties, ensuring transparency and representing the best interests of all involved. 4. Exclusive Finder's Fee Agreement: This agreement is established when a finder has an exclusive contract with either a buyer or a seller for a specific period. It restricts the represented party from working with other finders or directly approaching potential buyers or sellers. Exclusive agreements typically define the finder's fee, payment terms, and the rights granted exclusively to the finder during the specified period. Regardless of the specific type, a Hawaii Finder's Fee Agreement Regarding Real Property Sales acts as a safeguard, protecting the finder's rights and ensuring fair compensation for their valuable services in the real estate market. It is crucial for all parties involved to clearly understand the terms and conditions agreed upon within this legally binding contract.

Hawaii Finder's Fee Agreement Regarding Real Property Sales is a legally binding document outlining the terms and conditions agreed upon between a real estate finder (also known as a locator) and a property seller or buyer. This agreement comes into play when the finder assists in connecting a potential buyer with a seller or vice versa, leading to a successful real property transaction in Hawaii. This fee-based agreement ensures that the finder receives compensation for their services rendered in facilitating the property sale. The Hawaii Finder's Fee Agreement Regarding Real Property Sales typically includes several key provisions and may vary based on the specific circumstances of the agreement. Here are some relevant types of such agreements: 1. Buyer's Finder's Fee Agreement: This type of agreement is applicable when a finder helps a buyer locate a suitable property in Hawaii. The agreement specifies the finder's fee as a percentage or a fixed amount of the final transaction value. It outlines the payment terms, including whether the fee is due upon contract execution or closing. 2. Seller's Finder's Fee Agreement: In this scenario, a finder assists a seller in identifying potential buyers for their Hawaii property. The agreement details the finder's compensation, typically a commission based on the property's selling price or a predetermined amount. It clarifies when the fee is payable, such as upon the property's sale or closing. 3. Dual Agency Finder's Fee Agreement: This type of agreement arises when a finder represents both the buyer and the seller in a real property transaction. It specifies the finder's compensation, often with separate fees for each party. The agreement delineates the finder's obligations towards both parties, ensuring transparency and representing the best interests of all involved. 4. Exclusive Finder's Fee Agreement: This agreement is established when a finder has an exclusive contract with either a buyer or a seller for a specific period. It restricts the represented party from working with other finders or directly approaching potential buyers or sellers. Exclusive agreements typically define the finder's fee, payment terms, and the rights granted exclusively to the finder during the specified period. Regardless of the specific type, a Hawaii Finder's Fee Agreement Regarding Real Property Sales acts as a safeguard, protecting the finder's rights and ensuring fair compensation for their valuable services in the real estate market. It is crucial for all parties involved to clearly understand the terms and conditions agreed upon within this legally binding contract.