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.
The Cuyahoga Ohio Agreement to Attempt to Locate Unclaimed Property of Client is a legal document that outlines the agreement between a client and a professional firm or individual in their attempt to locate any unclaimed property or assets that may rightfully belong to the client. This agreement is specifically relevant to individuals or businesses located in Cuyahoga County, Ohio. Unclaimed property refers to any financial assets or tangible property that has been abandoned, lost, or forgotten by its rightful owner. It can include but is not limited to bank accounts, stocks, bonds, insurance proceeds, unwashed checks, and the contents of safe deposit boxes. By entering into the Cuyahoga Ohio Agreement to Attempt to Locate Unclaimed Property of Client, the client authorizes the designated firm or individual to act on their behalf, utilizing their skills and resources, to search for and recover any unclaimed property that may be associated with the client's name or other identifying information. The agreement typically includes several key components, such as: 1. Parties involved: Clearly identifying the client and the firm or individual responsible for locating unclaimed property. 2. Objective: Stating the purpose of the agreement, which is to attempt to locate and recover any unclaimed property that belongs to the client. 3. Terms and conditions: Outlining the specific terms of the engagement, including the duration of the agreement, the scope of the search, and any conditions or limitations. 4. Compensation: Detailing the fees or compensation structure for the firm or individual assisting in locating the unclaimed property. This may include a contingency fee arrangement, where the finder receives a percentage of the recovered assets as compensation. 5. Confidentiality: Ensuring the protection and confidentiality of the client's personal and financial information throughout the search process. 6. Termination: Outlining the conditions under which either party can terminate the agreement, as well as any obligations or responsibilities that continue after termination. Different types or variations of the Cuyahoga Ohio Agreement to Attempt to Locate Unclaimed Property of Client may exist depending on the specific circumstances or requirements of the client. For instance, there could be agreements specifically tailored for individuals, businesses, or non-profit organizations. It is important for clients to carefully review and understand the terms of any agreement before signing and proceeding with the search for unclaimed property.The Cuyahoga Ohio Agreement to Attempt to Locate Unclaimed Property of Client is a legal document that outlines the agreement between a client and a professional firm or individual in their attempt to locate any unclaimed property or assets that may rightfully belong to the client. This agreement is specifically relevant to individuals or businesses located in Cuyahoga County, Ohio. Unclaimed property refers to any financial assets or tangible property that has been abandoned, lost, or forgotten by its rightful owner. It can include but is not limited to bank accounts, stocks, bonds, insurance proceeds, unwashed checks, and the contents of safe deposit boxes. By entering into the Cuyahoga Ohio Agreement to Attempt to Locate Unclaimed Property of Client, the client authorizes the designated firm or individual to act on their behalf, utilizing their skills and resources, to search for and recover any unclaimed property that may be associated with the client's name or other identifying information. The agreement typically includes several key components, such as: 1. Parties involved: Clearly identifying the client and the firm or individual responsible for locating unclaimed property. 2. Objective: Stating the purpose of the agreement, which is to attempt to locate and recover any unclaimed property that belongs to the client. 3. Terms and conditions: Outlining the specific terms of the engagement, including the duration of the agreement, the scope of the search, and any conditions or limitations. 4. Compensation: Detailing the fees or compensation structure for the firm or individual assisting in locating the unclaimed property. This may include a contingency fee arrangement, where the finder receives a percentage of the recovered assets as compensation. 5. Confidentiality: Ensuring the protection and confidentiality of the client's personal and financial information throughout the search process. 6. Termination: Outlining the conditions under which either party can terminate the agreement, as well as any obligations or responsibilities that continue after termination. Different types or variations of the Cuyahoga Ohio Agreement to Attempt to Locate Unclaimed Property of Client may exist depending on the specific circumstances or requirements of the client. For instance, there could be agreements specifically tailored for individuals, businesses, or non-profit organizations. It is important for clients to carefully review and understand the terms of any agreement before signing and proceeding with the search for unclaimed property.
