Cuyahoga Ohio Finder’s Fee Agreement Regarding Real Property Sales

• Category: Real Estate - Contracts
• State: Multi-State
• County: Cuyahoga
• 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. Cuyahoga Ohio Finder's Fee Agreement Regarding Real Property Sales is a legal contract that outlines the terms and conditions between a finder (individual or company) and a property owner or real estate agent in Cuyahoga County, Ohio. This agreement is designed to compensate the finder for their services in locating and facilitating the purchase or sale of real property. In this agreement, the finder's fee refers to the commission or compensation amount agreed upon as a result of the finder's efforts in connecting the property buyer and seller. The amount of the finder's fee is typically a percentage of the total property sale value or a fixed dollar amount agreed upon by all parties involved. The Cuyahoga Ohio Finder's Fee Agreement Regarding Real Property Sales typically includes the following key elements: 1. Identification of Parties: The agreement specifies the names and contact information of the finder and the property owner or real estate agent. 2. Property Description: The agreement provides a detailed description of the real property being bought or sold, including the address, legal description, and any relevant details such as size, features, or improvements. 3. Finder Services and Scope: This section outlines the specific services that the finder will provide to locate and facilitate the real estate transaction. It may include activities such as property research, market analysis, finding potential buyers or sellers, marketing efforts, and negotiations. The scope of services can be tailored based on the specific needs of the parties involved. 4. Finder's Fee Amount: The agreement clearly states the finder's fee, whether it is a percentage of the property sale value or a fixed dollar amount. It may also mention how and when the fee will be paid, such as upon closing of the transaction or in installments. 5. Agreement Termination: This section outlines the circumstances under which the agreement can be terminated, such as completion of the real estate transaction, expiration of a specified time period, or violation of any terms and conditions. Different types of Cuyahoga Ohio Finder's Fee Agreement Regarding Real Property Sales may exist depending on the specific industry or real estate sector. For example: 1. Residential Property Finder's Fee Agreement: This type of agreement is focused on locating and facilitating the sale or purchase of residential properties, such as houses, apartments, or condominiums. 2. Commercial Property Finder's Fee Agreement: This agreement type is tailored towards the location and sale or purchase of commercial real estate properties, including offices, retail spaces, industrial properties, or land for development. 3. Rental Property Finder's Fee Agreement: This agreement is specific to the process of locating and securing tenants for rental properties, including both residential and commercial spaces. In conclusion, the Cuyahoga Ohio Finder's Fee Agreement Regarding Real Property Sales is a vital legal instrument that establishes the terms and conditions for compensating finders who play a crucial role in connecting buyers and sellers in real estate transactions. By having a detailed written agreement in place, all parties involved can ensure a fair and mutually beneficial arrangement.

Cuyahoga Ohio Finder's Fee Agreement Regarding Real Property Sales is a legal contract that outlines the terms and conditions between a finder (individual or company) and a property owner or real estate agent in Cuyahoga County, Ohio. This agreement is designed to compensate the finder for their services in locating and facilitating the purchase or sale of real property. In this agreement, the finder's fee refers to the commission or compensation amount agreed upon as a result of the finder's efforts in connecting the property buyer and seller. The amount of the finder's fee is typically a percentage of the total property sale value or a fixed dollar amount agreed upon by all parties involved. The Cuyahoga Ohio Finder's Fee Agreement Regarding Real Property Sales typically includes the following key elements: 1. Identification of Parties: The agreement specifies the names and contact information of the finder and the property owner or real estate agent. 2. Property Description: The agreement provides a detailed description of the real property being bought or sold, including the address, legal description, and any relevant details such as size, features, or improvements. 3. Finder Services and Scope: This section outlines the specific services that the finder will provide to locate and facilitate the real estate transaction. It may include activities such as property research, market analysis, finding potential buyers or sellers, marketing efforts, and negotiations. The scope of services can be tailored based on the specific needs of the parties involved. 4. Finder's Fee Amount: The agreement clearly states the finder's fee, whether it is a percentage of the property sale value or a fixed dollar amount. It may also mention how and when the fee will be paid, such as upon closing of the transaction or in installments. 5. Agreement Termination: This section outlines the circumstances under which the agreement can be terminated, such as completion of the real estate transaction, expiration of a specified time period, or violation of any terms and conditions. Different types of Cuyahoga Ohio Finder's Fee Agreement Regarding Real Property Sales may exist depending on the specific industry or real estate sector. For example: 1. Residential Property Finder's Fee Agreement: This type of agreement is focused on locating and facilitating the sale or purchase of residential properties, such as houses, apartments, or condominiums. 2. Commercial Property Finder's Fee Agreement: This agreement type is tailored towards the location and sale or purchase of commercial real estate properties, including offices, retail spaces, industrial properties, or land for development. 3. Rental Property Finder's Fee Agreement: This agreement is specific to the process of locating and securing tenants for rental properties, including both residential and commercial spaces. In conclusion, the Cuyahoga Ohio Finder's Fee Agreement Regarding Real Property Sales is a vital legal instrument that establishes the terms and conditions for compensating finders who play a crucial role in connecting buyers and sellers in real estate transactions. By having a detailed written agreement in place, all parties involved can ensure a fair and mutually beneficial arrangement.