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.
Attempt unclaimed property with the State of California refers to the process of actively seeking and claiming abandoned or unclaimed assets and funds by individuals or organizations from the California State Controller's Office (SCO) Unclaimed Property Division. This division is responsible for safeguarding lost, forgotten, or abandoned assets until their rightful owners can be identified and reunited with their properties. Here are some relevant keywords for Attempt unclaimed property with the state of California: 1. Unclaimed property: Assets and funds that have been abandoned or remain unclaimed by their rightful owners for a specific period of time, typically three years. 2. California State Controller's Office (SCO): The government agency responsible for managing various financial and accounting activities within the state, including the Unclaimed Property Division. 3. Abandoned assets: Any form of property, such as bank accounts, stocks, bonds, insurance policies, utility deposits, or forgotten safe deposit boxes, that have been left inactive, unattended, or unclaimed for a certain period. 4. Unclaimed Property Division: A department within the California State Controller's Office tasked with collecting, safeguarding, and auditing abandoned or unclaimed assets until they can be returned to their rightful owners. 5. Asset recovery: The process of locating and claiming unclaimed property or assets, which involves submitting necessary documentation to the Unclaimed Property Division and proving ownership. 6. Claimant: The individual or organization seeking to recover their unclaimed property by submitting a valid claim with the Unclaimed Property Division. Types of Attempt unclaimed property with the State of California: 1. Cash and securities: This category includes unclaimed bank accounts, stocks, bonds, dividends, and other financial assets left inactive or abandoned. 2. Insurance proceeds: Unclaimed life insurance policies, annuities, or other insurance-related funds that have not been requested by the beneficiaries or rightful owners. 3. Safe deposit box contents: Forgotten or unclaimed assets stored in safe deposit boxes, such as jewelry, documents, coins, or family heirlooms. 4. Utility deposits: Any unclaimed security deposits given to utility companies for services such as electricity, water, or gas. 5. Unwashed checks: Checks issued to individuals or businesses that have not been cashed within a specific period. 6. Corporate property: Abandoned assets associated with dissolved or inactive businesses such as unwashed dividends, payments, or company stocks. To attempt to reclaim unclaimed property with the state of California, individuals or organizations need to visit the official website of the California State Controller's Office and navigate to the Unclaimed Property Division section. From there, they can initiate a search by providing their personal details or the property's information. If any unclaimed property is found matching their details, they can start the claims process by filling out the necessary forms and submitting supporting documentation to prove ownership. The Unclaimed Property Division reviews the claims and, if approved, arranges for the return of the property to its rightful owner, free of charge.
