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.
Houston Texas Agreement to Attempt to Locate Unclaimed Property of Client is a legally binding document that outlines the terms and conditions under which a party will attempt to locate and reclaim unclaimed property on behalf of a client in the Houston, Texas area. This agreement is commonly used by professional asset locators or individuals who specialize in finding lost or forgotten assets for individuals or businesses. The Houston Texas Agreement to Attempt to Locate Unclaimed Property of Client typically includes the following key elements: 1. Parties Involved: This section identifies the parties to the agreement, namely the professional asset locator or company and the client who wishes to recover their unclaimed property. 2. Scope of Services: This portion outlines the specific services that will be provided by the asset locator, including conducting research and investigations, contacting relevant agencies, and filing necessary documentation to initiate the claims process. 3. Client's Obligations: This clause states the responsibilities of the client, such as providing accurate information about the unclaimed property, cooperating with the asset locator, and reimbursing any expenses incurred during the process. 4. Compensation: The agreement should clearly define the fee structure for the asset locator's services, whether it is a flat fee, a percentage of the recovered funds, or a combination thereof. It may also include provisions for reimbursement of expenses. 5. Confidentiality and Data Protection: This section ensures that all personal information and data provided by the client will be handled with utmost confidentiality and in compliance with applicable laws and regulations. 6. Termination and Dispute Resolution: The agreement should specify the circumstances under which either party can terminate the agreement and outline a process for resolving disputes, such as mediation or arbitration. Types of Houston Texas Agreements to Attempt to Locate Unclaimed Property of Client: 1. Individual Client Agreement: This type of agreement is used when an individual wants to hire an asset locator to recover their personal unclaimed property, such as forgotten bank accounts, insurance policies, or inheritances. 2. Business Client Agreement: This agreement is tailored for businesses seeking assistance in reclaiming unclaimed property, which may include unwashed checks, vendor payments, or dormant accounts. 3. Estate Client Agreement: When dealing with deceased individuals' estates, an estate client agreement is used to facilitate the process of locating and recovering unclaimed property on behalf of the estate's beneficiaries or heirs. In conclusion, the Houston Texas Agreement to Attempt to Locate Unclaimed Property of Client is a crucial document for individuals, businesses, and estates seeking professional assistance in reclaiming their forgotten assets. By outlining expectations, rights, and obligations, this agreement ensures a transparent and legally binding relationship between the asset locator and the client.Houston Texas Agreement to Attempt to Locate Unclaimed Property of Client is a legally binding document that outlines the terms and conditions under which a party will attempt to locate and reclaim unclaimed property on behalf of a client in the Houston, Texas area. This agreement is commonly used by professional asset locators or individuals who specialize in finding lost or forgotten assets for individuals or businesses. The Houston Texas Agreement to Attempt to Locate Unclaimed Property of Client typically includes the following key elements: 1. Parties Involved: This section identifies the parties to the agreement, namely the professional asset locator or company and the client who wishes to recover their unclaimed property. 2. Scope of Services: This portion outlines the specific services that will be provided by the asset locator, including conducting research and investigations, contacting relevant agencies, and filing necessary documentation to initiate the claims process. 3. Client's Obligations: This clause states the responsibilities of the client, such as providing accurate information about the unclaimed property, cooperating with the asset locator, and reimbursing any expenses incurred during the process. 4. Compensation: The agreement should clearly define the fee structure for the asset locator's services, whether it is a flat fee, a percentage of the recovered funds, or a combination thereof. It may also include provisions for reimbursement of expenses. 5. Confidentiality and Data Protection: This section ensures that all personal information and data provided by the client will be handled with utmost confidentiality and in compliance with applicable laws and regulations. 6. Termination and Dispute Resolution: The agreement should specify the circumstances under which either party can terminate the agreement and outline a process for resolving disputes, such as mediation or arbitration. Types of Houston Texas Agreements to Attempt to Locate Unclaimed Property of Client: 1. Individual Client Agreement: This type of agreement is used when an individual wants to hire an asset locator to recover their personal unclaimed property, such as forgotten bank accounts, insurance policies, or inheritances. 2. Business Client Agreement: This agreement is tailored for businesses seeking assistance in reclaiming unclaimed property, which may include unwashed checks, vendor payments, or dormant accounts. 3. Estate Client Agreement: When dealing with deceased individuals' estates, an estate client agreement is used to facilitate the process of locating and recovering unclaimed property on behalf of the estate's beneficiaries or heirs. In conclusion, the Houston Texas Agreement to Attempt to Locate Unclaimed Property of Client is a crucial document for individuals, businesses, and estates seeking professional assistance in reclaiming their forgotten assets. By outlining expectations, rights, and obligations, this agreement ensures a transparent and legally binding relationship between the asset locator and the client.
