Salt Lake Utah Finder’s Fee Agreement Regarding Real Property Sales

• Category: Real Estate - Contracts
• State: Multi-State
• County: Salt Lake
• 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. Salt Lake Utah Finder's Fee Agreement Regarding Real Property Sales is a legally binding contract between a finder (also known as a locator or broker) and a property owner/seller. This agreement outlines the terms and conditions under which the finder will receive compensation for their efforts in locating a buyer for a specific property in the Salt Lake City, Utah area. The purpose of the Salt Lake Utah Finder's Fee Agreement Regarding Real Property Sales is to establish a clear understanding between the finder and the property owner/seller regarding the finder's role, responsibilities, and compensation in the real estate transaction. This agreement ensures that the finder is duly rewarded for their efforts in connecting the seller with a potential buyer. The Finder's Fee Agreement may vary depending on the specific circumstances and requirements of the property owner/seller. However, some common types of Salt Lake Utah Finder's Fee Agreement Regarding Real Property Sales include: 1. Exclusive Finder's Fee Agreement: This type of agreement grants exclusive rights to the finder to represent the property owner/seller in finding a buyer. In this case, the finder is the sole representative, and only they are entitled to receive the finder's fee upon successful completion of the real estate transaction. 2. Non-Exclusive Finder's Fee Agreement: A non-exclusive agreement allows the property owner/seller to engage multiple finders simultaneously to find potential buyers. In this case, the finder who successfully brings a buyer is entitled to the finder's fee. 3. Flat-Fee Finder's Fee Agreement: In this type of agreement, the finder's fee is a fixed amount agreed upon between the finder and the property owner/seller. Regardless of the property's selling price, the finder's fee remains the same. 4. Percentage-Based Finder's Fee Agreement: This agreement is based on a percentage of the final selling price of the property. The finder receives a specific percentage of the total sales price as their finder's fee. Keywords: Salt Lake, Utah, Finder's Fee Agreement, Real Property Sales, Salt Lake City, contract, locator, broker, property owner, seller, compensation, real estate transaction, exclusive, non-exclusive, flat-fee, percentage-based.

Salt Lake Utah Finder's Fee Agreement Regarding Real Property Sales is a legally binding contract between a finder (also known as a locator or broker) and a property owner/seller. This agreement outlines the terms and conditions under which the finder will receive compensation for their efforts in locating a buyer for a specific property in the Salt Lake City, Utah area. The purpose of the Salt Lake Utah Finder's Fee Agreement Regarding Real Property Sales is to establish a clear understanding between the finder and the property owner/seller regarding the finder's role, responsibilities, and compensation in the real estate transaction. This agreement ensures that the finder is duly rewarded for their efforts in connecting the seller with a potential buyer. The Finder's Fee Agreement may vary depending on the specific circumstances and requirements of the property owner/seller. However, some common types of Salt Lake Utah Finder's Fee Agreement Regarding Real Property Sales include: 1. Exclusive Finder's Fee Agreement: This type of agreement grants exclusive rights to the finder to represent the property owner/seller in finding a buyer. In this case, the finder is the sole representative, and only they are entitled to receive the finder's fee upon successful completion of the real estate transaction. 2. Non-Exclusive Finder's Fee Agreement: A non-exclusive agreement allows the property owner/seller to engage multiple finders simultaneously to find potential buyers. In this case, the finder who successfully brings a buyer is entitled to the finder's fee. 3. Flat-Fee Finder's Fee Agreement: In this type of agreement, the finder's fee is a fixed amount agreed upon between the finder and the property owner/seller. Regardless of the property's selling price, the finder's fee remains the same. 4. Percentage-Based Finder's Fee Agreement: This agreement is based on a percentage of the final selling price of the property. The finder receives a specific percentage of the total sales price as their finder's fee. Keywords: Salt Lake, Utah, Finder's Fee Agreement, Real Property Sales, Salt Lake City, contract, locator, broker, property owner, seller, compensation, real estate transaction, exclusive, non-exclusive, flat-fee, percentage-based.