(1) How much would I expect to pay for a finder’s fee?
(2) Under what circumstances should the fee be paid? When a property is presented? When the offer goes unconditional?
(3) By what means is a finder’s fee typically paid?
(4) What sort of properties have people paid a finder’s fee for?Regards
Unreal_Jo [blink]Hi Unreal Jo,
finders fees can range from 1100 to 4000 depending on the finder, the type of property.
some finders require fee once contract is handed to you. Some guide you through until the contract goes unconditional and claim fee then.
Pay to bank account, or through their solicitor’s trust account, can vary.
Your finder might be a friend or business colleague you hook up with and pay with a carton of beer (jokes!!!). Seriously fees can really vary, and so can service. The more expensive fee does not guarantee more service of better property.
There are a few spotters on this forum – some advertise in their signature, some you can find in their posts. You could contact them by PM for more information.
Cheers
CDCastleDreamer
for further advice ask Westan – he is a finder
“If You never never ask, you’ll never never know”
Dont forget Russ in the WEST.[biggrin][biggrin]
So many +CF properties in Western Australia.Let me help you. And we can achieve a win win situation.Russ.0438 659 411
What sort of fees do you think are reasonable RussH?
Regards,
SiUnreal_Jo,
Bear in mind that it’s illegal to act as a property finder if you are not a qualified REA…so check their credentials!
Cheers,
Aceyducey
Originally posted by Sibo:What sort of fees do you think are reasonable RussH?
Regards,
Siyes , we’re waiting![whistle][whistle][whistle]
Julain [worried]
THERE IS ALWAYS A BETTER WAY!
[cap] Thanks people. I appreciate the rapid replies. RussH – I might take you up, but need the up front advice. Are you a qualified REA? What are your fees and conditions?
Bear in mind, I wouldn’t be taking up a property in places like Norseman WA. Lots of CF+ places there, not a lot of people! [glum]
Unreal_Jo
Hi Jo and Guys
We charge $1200 (just put it up from $1100) thats NZ dollars so a little less in aust dollars.
We ask for the money to be paid when the deal goes unconditional, because at that point the buyer has done there own stuff and is happy to take the deal. If they change there mind then there is no charge.
Our fees gets paid with the purchasers deposit to a Lawyers trust account it is then released to us.
We are not real estate agents and it is not required in the market we operate in. However i am an experienced investor and have bought and sold many properties over the years, i currently own 30 properties, sold some in Oz (own 11) and been buy in NZ (now up to 19 in NZ).Hope that answers some of your questions
regards westan
I find +ve cashflow deals in New Zealand which I sell to other investors. To be on my database send an e-mail to [email protected]
Currently I charge $1,000 per property, however at this point not certain I will be continuing due to legalities but if i do i will be charging more as the expense for me is higher then say in westans case.
Regards Bear
POSITVE CASHFLOW properties and Joint Ventures available!
For the BEST deals register via E-mail [email protected]
DONT MISS OUT!!!!!I charge 1.5% and I use a property purchasing anlayis kit I designed to save time and arguements.
Phil [suave]
And now….the one youve all been waiting for.
Its a big state so my charges vary depending on the service you require.
I have a base fee of 1% of purchase price for the first 100k then 0.5% for the balance of purchase price.A discount applies on multiple purchases.
If I have to do a considerable amount of traveling,then this will be charged out according to purchase price of property.
E.g If the property is only worth 50k then it will attract a base fee of $500.If the property is within 100 kms there is no extra charge.If I am required to travel extra for this property then it will be negotiated with the purchaser.If the property is worth 400 000 then the base fee would be $2500.If the property is within a days travel then there would be no extra charge.
So it all boils down to purchase price and location.
I am not going to travel 2000 kms to inspect a 25000 dollar property.The travel fee on this one would have to be negotiated.
Its lucky though as a lot of the cheapies are not toooooo far away.
Hope i,ve sated your curiosity.
Russ.[biggrin]So many +CF properties in Western Australia.Let me help you. And we can achieve a win win situation.Russ.0438 659 411
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