Would anybody happen to know how I can get my hands on a simple Finders Fee Agreement with a flat rate of 10%? It is VERY important that I get this as soon as possible. Or, if anybody can write a simple form up for me it would be greatly appreciated.
Thanks,
Chris
So I found this Agreement. Do you think it could be altered to my specific needs? :help
Nevermind I guess.
You could probably write one up yourself. It doesn’t have to be anything fancy. Why do you need this agreement anyway? I’m sure if you talk with most of the wholesalers/birddogs here they just use a verbal agreement. Worried about not getting paid? If that happens consider it a lesson learned and never deal with that investor again.
What is the purpose for this agreement?
If you located a good deal, you could
simply tie up the property with an option
or purchase and sales agreement and
then assign your agreement to your
buyer. This way your fee is a bit more
protected…
Thanks for the rep lies everybody. I ended up constructing my own. :biggrin
ASSIGNMENT OF CONTRACT
Assignee
YOUR COMPANY.(hereinafter “Assignor”), the Buyer under an agreement dated THE CONTRACT DATE (hereinafter “Agreement” by and between Assignor and THE ORGINAL SELLER (hereinafter “Seller”), hereby assigns all right, title and interest in said agreement to PERSON YOUR SELLING TO (hereinafter “Assignee”) for the sum and consideration of $AMOUNT OF MONEY
received by Assignor.
Assignee agrees to perform all covenants, conditions and obligations required by Assignor under said Agreement and agrees to defend, indemnify and hold Assignor harmless from any liability or obligation under said Agreement. Assignee further agrees to hold Assignor harmless from any deficiency of defect in the legality or enforceability of the terms of said Agreement.
These instructions may be executed in counterparts, each of which shall be deemed and original regardless of date of execution or delivery and together shall constitute one and the same document.
Accepted and so instructed:
Additional Terms:
Dated this NUMBER day of MONTH, YEAR
YOUR NAME, POSITION
YOUR COMPANY
Assignor
Assignee
ASSIGNMENT OF CONTRACT
Seller
YOUR COMPANY.(hereinafter “Assignor”), the Buyer under an agreement dated THE CONTRACT DATE (hereinafter “Agreement” by and between Assignor and THE ORGINAL SELLER (hereinafter “Seller”), hereby assigns all right, title and interest in said agreement to PERSON YOUR SELLING TO (hereinafter “Assignee”).
We (husband / wife), on the one hand, and Assignee, on the other, agree to follow through with our respective obligation and terms of our Real Estate Purchase Agreement, which was signed on (date). We, (husband / wife) further agree to hold YOUR COMPANY harmless of any actual, potential, or threatened litigation, lawsuit, and or dispute arisen out of the Real Estate Purchase Agreement signed on (date). We agreed to indemnify YOUR COMPANY of any damages, lost, cost of litigation, attorney fee’s, and any other expenses in connection with any litigation and /or dispute arisen out of the breach of this agreement.
It is understood and agreed that this agreement applies to all known and unknown claim of lost and we, (husband/wife) waive all right or benefit that we may have or in the future may accrued under Section 1542 of the Civil Code of the State of California, which section reads as follows:
General Release: Claims extinguished.
“A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release which if known by him must have materially affected his settlement with the debtor.”
These instructions may be executed in counterparts, each of which shall be deemed and original regardless of date of execution or delivery and together shall constitute one and the same document.
Accepted and so instructed:
Dated this NUMBER day of MONTH, YEAR
YOUR NAME, POSITION
YOUR COMPANY
Assignor
Seller