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.
San Jose California Agreement to Attempt to Locate Unclaimed Property of Client is a legal document designed to establish a collaboration between a client and a service provider to locate and recover unclaimed property within the jurisdiction of San Jose, California. This agreement aims to protect the rights of both the client and the service provider while ensuring compliance with applicable laws and regulations. Keywords: San Jose California, agreement, attempt to locate, unclaimed property, client Types of San Jose California Agreement to Attempt to Locate Unclaimed Property of Client: 1. Standard Agreement: This is a general agreement template that covers the essential provisions required for the attempt to locate unclaimed property. It outlines the responsibilities of both parties, compensation terms, confidentiality, and termination clauses. 2. Financial Institution Agreement: This particular agreement is specifically tailored for financial institutions operating in San Jose, California. It addresses the unique requirements and regulations imposed on banks, credit unions, and other financial entities when engaging in the attempt to locate unclaimed property of their clients. 3. Corporate Agreement: Designed for corporations based in San Jose, California, this agreement focuses on the process of identifying and recovering unclaimed property held by the business entity itself. It encompasses internal protocols, reporting obligations, and compliance measures to facilitate efficient and legal property recovery. 4. Individual Agreement: This agreement is intended for individuals residing in San Jose, California, who wish to engage a service provider to locate and claim their unclaimed property on their behalf. It clarifies the roles and responsibilities of both parties, defines the scope of work, and governs the sharing of any recovered property. 5. Estate Agreement: This agreement specifically caters to the unique needs of estate owners or beneficiaries residing in San Jose, California. It outlines the procedures for identifying, locating, and recovering unclaimed property that belongs to the estate or deceased individuals. Each of these agreements shares the common goal of executing due diligence to locate and return unclaimed property to its rightful owners or beneficiaries. It is crucial to review and customize the selected agreement type based on the specific circumstances and legal requirements associated with the client and the unclaimed property at hand.San Jose California Agreement to Attempt to Locate Unclaimed Property of Client is a legal document designed to establish a collaboration between a client and a service provider to locate and recover unclaimed property within the jurisdiction of San Jose, California. This agreement aims to protect the rights of both the client and the service provider while ensuring compliance with applicable laws and regulations. Keywords: San Jose California, agreement, attempt to locate, unclaimed property, client Types of San Jose California Agreement to Attempt to Locate Unclaimed Property of Client: 1. Standard Agreement: This is a general agreement template that covers the essential provisions required for the attempt to locate unclaimed property. It outlines the responsibilities of both parties, compensation terms, confidentiality, and termination clauses. 2. Financial Institution Agreement: This particular agreement is specifically tailored for financial institutions operating in San Jose, California. It addresses the unique requirements and regulations imposed on banks, credit unions, and other financial entities when engaging in the attempt to locate unclaimed property of their clients. 3. Corporate Agreement: Designed for corporations based in San Jose, California, this agreement focuses on the process of identifying and recovering unclaimed property held by the business entity itself. It encompasses internal protocols, reporting obligations, and compliance measures to facilitate efficient and legal property recovery. 4. Individual Agreement: This agreement is intended for individuals residing in San Jose, California, who wish to engage a service provider to locate and claim their unclaimed property on their behalf. It clarifies the roles and responsibilities of both parties, defines the scope of work, and governs the sharing of any recovered property. 5. Estate Agreement: This agreement specifically caters to the unique needs of estate owners or beneficiaries residing in San Jose, California. It outlines the procedures for identifying, locating, and recovering unclaimed property that belongs to the estate or deceased individuals. Each of these agreements shares the common goal of executing due diligence to locate and return unclaimed property to its rightful owners or beneficiaries. It is crucial to review and customize the selected agreement type based on the specific circumstances and legal requirements associated with the client and the unclaimed property at hand.
