Pima Arizona Finder’s Fee Agreement Regarding Real Property Sales

• Category: Real Estate - Contracts
• State: Multi-State
• County: Pima
• 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. The Lima Arizona Finder's Fee Agreement Regarding Real Property Sales is a comprehensive legal document that governs the relationship and obligations between a finder and a property owner or seller. This agreement outlines the terms and conditions under which the finder will be entitled to a fee for successfully identifying and introducing a potential buyer of real property in Lima, Arizona. Keywords: Lima, Arizona, Finder's Fee Agreement, Real Property Sales, property owner, seller, finder, fee, potential buyer. Different types of Lima Arizona Finder's Fee Agreement Regarding Real Property Sales are: 1. Exclusive Finder's Fee Agreement: This type of agreement grants exclusive rights to the finder to identify and connect the property owner/seller with potential buyers. It ensures that no other finder can compete for the fee by introducing the same buyer. 2. Non-Exclusive Finder's Fee Agreement: In contrast to the exclusive agreement, this type allows multiple finders to bring potential buyers for the property. The agreement states that the finder who successfully brings the buyer will be entitled to the fee. 3. Flat Fee Finder's Fee Agreement: This agreement specifies a fixed amount or a percentage of the property's value as the finder's fee. The fee remains constant regardless of the actual sale price of the property. 4. Tiered Finder's Fee Agreement: With this type of agreement, the finder's fee is structured in different tiers based on the sale price of the real property. For example, a lower percentage may be applied to the first tier of sale price, with a higher percentage for subsequent tiers. 5. Contingency Finder's Fee Agreement: This agreement establishes that the finder's fee is contingent upon the successful completion of the sale. If the sale doesn't close, the finder may not be entitled to the fee. 6. Renewal or Extension Finder's Fee Agreement: This type of agreement allows for the extension or renewal of the initial finder's fee agreement for a specified period. It ensures that the finder continues to be eligible for the fee if the sale process takes longer than anticipated. Note: The specific terms and conditions of these agreements may vary depending on the involved parties and their negotiations. It is crucial to consult legal professionals to draft or review the agreement in accordance with local laws and requirements.

The Lima Arizona Finder's Fee Agreement Regarding Real Property Sales is a comprehensive legal document that governs the relationship and obligations between a finder and a property owner or seller. This agreement outlines the terms and conditions under which the finder will be entitled to a fee for successfully identifying and introducing a potential buyer of real property in Lima, Arizona. Keywords: Lima, Arizona, Finder's Fee Agreement, Real Property Sales, property owner, seller, finder, fee, potential buyer. Different types of Lima Arizona Finder's Fee Agreement Regarding Real Property Sales are: 1. Exclusive Finder's Fee Agreement: This type of agreement grants exclusive rights to the finder to identify and connect the property owner/seller with potential buyers. It ensures that no other finder can compete for the fee by introducing the same buyer. 2. Non-Exclusive Finder's Fee Agreement: In contrast to the exclusive agreement, this type allows multiple finders to bring potential buyers for the property. The agreement states that the finder who successfully brings the buyer will be entitled to the fee. 3. Flat Fee Finder's Fee Agreement: This agreement specifies a fixed amount or a percentage of the property's value as the finder's fee. The fee remains constant regardless of the actual sale price of the property. 4. Tiered Finder's Fee Agreement: With this type of agreement, the finder's fee is structured in different tiers based on the sale price of the real property. For example, a lower percentage may be applied to the first tier of sale price, with a higher percentage for subsequent tiers. 5. Contingency Finder's Fee Agreement: This agreement establishes that the finder's fee is contingent upon the successful completion of the sale. If the sale doesn't close, the finder may not be entitled to the fee. 6. Renewal or Extension Finder's Fee Agreement: This type of agreement allows for the extension or renewal of the initial finder's fee agreement for a specified period. It ensures that the finder continues to be eligible for the fee if the sale process takes longer than anticipated. Note: The specific terms and conditions of these agreements may vary depending on the involved parties and their negotiations. It is crucial to consult legal professionals to draft or review the agreement in accordance with local laws and requirements.