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.
Utah Agreement to Attempt to Locate Unclaimed Property of Client is a legally binding contract between a client and a third-party service provider, typically a property locator or finder, assisting the client in locating any unclaimed assets or properties held by the Utah State Unclaimed Property Division. This agreement outlines the terms and conditions of the engagement, establishing the rights and responsibilities of both parties involved. Keywords: 1. Utah Agreement to Attempt to Locate Unclaimed Property of Client 2. Unclaimed property 3. Client 4. Property locator 5. Property finder 6. Utah State Unclaimed Property Division 7. Assets 8. Engagement 9. Terms and conditions 10. Rights and responsibilities Different types of Utah Agreement to Attempt to Locate Unclaimed Property of Client may include variations based on the specific service provided or the type of unclaimed property being sought: 1. Utah Agreement to Attempt to Locate Unclaimed Money of Client: This type of agreement focuses specifically on locating unclaimed monetary assets, such as bank accounts, unwashed checks, insurance policies, or retirement funds. 2. Utah Agreement to Attempt to Locate Unclaimed Real Estate of Client: This agreement pertains to the search for unclaimed real estate properties, including land, homes, or commercial buildings, that may be held by the state's Unclaimed Property Division. 3. Utah Agreement to Attempt to Locate Unclaimed Assets of Client: This broad agreement encompasses all types of unclaimed assets, including both monetary and non-monetary properties, such as jewelry, antiques, stocks, or safe deposit box contents. 4. Utah Agreement to Attempt to Locate Unclaimed Inheritance of Client: This type of agreement specifically targets unclaimed inheritance or probate assets, ensuring that any rightful inheritance due to the client is properly located and claimed. 5. Utah Agreement to Attempt to Locate Unclaimed Abandoned Vehicles of Client: In some cases, this type of agreement may focus on the search for unclaimed or abandoned vehicles, ensuring their legal transfer to the rightful owner or aiding in the sale or disposal process. Note: It is important to consult with legal professionals or experts in unclaimed property laws in Utah to ensure compliance and accuracy when drafting, signing, or utilizing any type of agreement related to attempting to locate unclaimed property on behalf of a client.
