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.
Oregon Agreement to Attempt to Locate Unclaimed Property of Client is a legal document that outlines the terms and conditions under which a party agrees to assist a client in locating unclaimed property. This agreement is specifically designed to comply with the unclaimed property laws of the state of Oregon. The purpose of this agreement is to establish a professional relationship between the client and the party assisting in the search for unclaimed property. The agreement sets forth the responsibilities and obligations of both parties involved and ensures that all efforts made are in accordance with the applicable laws and regulations. In addition to the standard Oregon Agreement to Attempt to Locate Unclaimed Property of Client, there are several types that may be specified based on the unique needs of the client: 1. Individual Client Agreement: This type of agreement is used when an individual seeks assistance in locating their own unclaimed property. It outlines the specific terms and conditions governing the relationship between the individual and the party assisting in the search. 2. Organizational Client Agreement: This type of agreement is tailored for organizations, such as corporations, non-profit organizations, or government agencies, that wish to locate unclaimed property that may belong to them. This agreement addresses the distinct requirements and considerations relevant to organizations. 3. Multi-Client Agreement: This variant of the agreement is utilized when the party assisting in the search for unclaimed property is working with multiple clients simultaneously. It defines the terms and conditions applicable to all participating clients and establishes a collective effort to locate unclaimed property efficiently. The Oregon Agreement to Attempt to Locate Unclaimed Property of Client typically covers important aspects such as the scope of services provided, payment terms, confidentiality provisions, rights and obligations of both parties, and any disclosures required by law. Keywords: Oregon, Agreement to Attempt, Unclaimed Property, Client, legal document, compliance, unclaimed property laws, professional relationship, responsibilities, obligations, terms and conditions, individual client agreement, organizational client agreement, multi-client agreement, scope of services, payment terms, confidentiality provisions, rights, disclosures.
