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.
Pennsylvania Agreement to Attempt to Locate Unclaimed Property of Client is a legal document that is designed to help individuals or businesses locate any unclaimed assets or property that they may be entitled to in the state of Pennsylvania. Unclaimed property refers to any financial assets, such as bank accounts, stocks, dividends, insurance proceeds, or valuables, that have been abandoned or forgotten by their rightful owner. This detailed agreement outlines the terms and conditions under which a designated party, such as an attorney or a registered finder, will make reasonable efforts to locate, identify, and recover unclaimed property on behalf of the client. The agreement ensures that both the client and the designated party understand their obligations and responsibilities throughout the process. Keywords: Pennsylvania, Agreement, Attempt to Locate, Unclaimed Property, Client, Types 1. Pennsylvania Unclaimed Property Finder Agreement: This type of agreement is entered into by a registered unclaimed property finder or locator and a client who wants assistance in locating and recovering their unclaimed assets. It outlines the provisions and compensation arrangements between the parties involved. 2. Pennsylvania Attorney's Agreement to Locate Unclaimed Property: This type of agreement involves an attorney who specializes in unclaimed property law and offers their services to clients who wish to discover and recover their unclaimed assets. The agreement details the attorney's responsibilities, fees, and the client's rights throughout the process. 3. Pennsylvania Company Agreement to Attempt to Locate Unclaimed Property: This agreement is specifically designed for companies or organizations that provide unclaimed property location services to clients. It covers the terms and conditions under which the company will attempt to locate and recover unclaimed property on behalf of their clients. 4. Pennsylvania Joint Agreement to Locate Unclaimed Property: This type of agreement is entered into by multiple parties, such as family members or business partners, who collectively want to search for and reclaim their unclaimed assets. It defines the rights, obligations, and distribution arrangements among the joint parties if any unclaimed property is successfully recovered. 5. Pennsylvania Success Fee Agreement for Unclaimed Property: This agreement outlines a compensation structure where the designated party assisting in locating unclaimed property receives a percentage or a success fee based on the value of the recovered assets. This agreement is commonly used when clients prefer not to pay upfront fees for the search but instead compensate the finder based on the results. In conclusion, the Pennsylvania Agreement to Attempt to Locate Unclaimed Property of Client is a crucial legal document that establishes the relationship between the designated party and the client, providing a framework for efforts to locate and recover unclaimed assets.
