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.
New Hampshire Agreement to Attempt to Locate Unclaimed Property of Client is a legal document that outlines the terms and conditions under which a third-party entity, often known as a finder or locator, is authorized to attempt to locate and recover unclaimed property belonging to a client in the state of New Hampshire. This agreement serves as a binding contract between the client, who is the rightful owner of the unclaimed property, and the finder, who specializes in identifying and locating such assets. The finder agrees to use diligent efforts to locate and secure the client's unclaimed property, while the client agrees to compensate the finder for their services based on a prenegotiated fee structure. Keywords: New Hampshire, agreement, attempt to locate, unclaimed property, client, third-party entity, finder, locator, legal document, terms and conditions, authorize, recover, binding contract, rightful owner, assets, diligent efforts, secure, compensate, services, fee structure. Different Types of New Hampshire Agreement to Attempt to Locate Unclaimed Property of Client: 1. Individual Finder Agreement: This agreement is tailored for individuals or sole proprietors who offer their services as finders or locators to help clients recover unclaimed property. It lays out the specific terms and conditions applicable to an individual finder-client relationship. 2. Company Finder Agreement: This type of agreement is designed for finder companies or agencies that operate with multiple employees or agents. It includes provisions related to the company's obligations, responsibilities, and personnel involved in the process of locating unclaimed property for clients. 3. Contingency Fee Agreement: This variant of the agreement establishes that the finder's compensation is contingent upon successfully locating and recovering the client's unclaimed property. The fee structure typically stipulates a percentage of the value of the recovered assets as the finder's fee. 4. Flat Fee Agreement: In contrast to the contingency fee agreement, a flat fee agreement states that the finder will receive a fixed amount as compensation for their services, regardless of the value or quantity of unclaimed property located. 5. Exclusive Agreement: An exclusive agreement grants the finder exclusive rights to attempt to locate the client's unclaimed property. It specifies that the client will not engage any other finders or agencies during the agreed-upon period of the agreement. 6. Non-Exclusive Agreement: This agreement allows the client to engage multiple finders simultaneously or subsequently, granting them the freedom to hire additional finders to attempt locating their unclaimed property. Keywords: Individual Finder Agreement, Company Finder Agreement, Contingency Fee Agreement, Flat Fee Agreement, Exclusive Agreement, Non-Exclusive Agreement.
