Is it illegal to charge finders a fee for surplus real estate? The answer: no, not if you are familiar with the law and use loopholes to obtain adequate funding.
Most states now impose limits on what anyone who wants to charge a finder fee can legally charge. However, these laws exist in state code … and that generally means those laws apply only for state agencies.
What funds does this include? Well, the unclaimed funds that are kept in the state agency are usually things like bank accounts, stock dividends, utility deposits, and other small amounts that people easily lose track of. A finder can generally only charge a finder fee of 5-15% to locate the owner in these funds. With funds ranging from $ 10 to $ 500, these aren’t worth wasting time with.
So are surplus real estate held at the state level? Bingo! Now you are on the right track. Surplus real estate is NOT held at the state level, and this is a loophole that allows you to collect up to 50% of these funds in most places. (Some places don’t allow you to charge a search fee of more than 5% no matter where the funds are kept – do yourself a favor and get training and education before trying this.)
And we’re talking big, huge amounts, not the $ 100 savings account someone forgot. Surplus real estate regularly runs into the tens of thousands of dollars. With a $ 10,000 overage, and you will find that oversize size almost everywhere you look, you can charge a search fee of up to $ 5,000 – on a single claim!
As sad as it is that foreclosures are so rampant, it’s even sadder when someone loses their home and doesn’t realize they can collect the extra money owed to the government. The people who are owed this money are often people who can actually use it. And to top it all, the government can and will do sixteen money if the owners don’t collect it on time.
If you ensure that you obtain information on the laws regarding money finders and surpluses, you or anyone can collect 50% of the finder’s fees for these claims. Find records, find owners, and connect the two, and you can easily generate a five-figure income per month for yourself, and that’s all from your home office. You can work in all areas of the business without leaving home.
So even if you live in a state where hypocrisy legally collect search engine fees, you can work in another state. And this also means that you can work excessively from a foreign country. In fact, if you become involved in the surplus community as you learn, you will find that some of the most successful people who work in surplus live in England, France, and Australia.
The bottom line is: educate yourself and get to work! Homeowners need you to connect them to their lost money.