Right now, the government has billions of dollars in unclaimed funds owed to citizens for things like forgotten bank accounts and stock dividends. You may have even seen these funds advertised on shows like 20/20 and Dateline. “Scavenger hunt” websites allow you to type in your name and see how much money you may be owed. What they don’t tell you is that surplus real estate isn’t available through these websites, and for money seekers, that means a treasure trove of unworked funds and lots and lots of big finder fees.
Real estate surpluses most often occur when the property is sold at a foreclosure or tax foreclosure auction. The auction often creates an amount greater than what was originally owed, and these funds are usually held for the original owner to come and claim. For many reasons beyond the scope of this article, those owners often leave the money behind, not realizing it is there for them.
Because this money is kept outside of the state level, state laws that typically apply to money seekers, such as how much can be charged for a seeker’s fee, or what credentials one must have to operate a money seeking business money, generally do not apply here. To work with state funds, you may need to be a private investigator or registered with the state as a money seeker. This is not the case with most surplus real estate. This means that average people with an entrepreneurial attitude can easily get into the business, and those already working as money seekers are a step ahead.
Money seekers who work with surplus real estate generally charge 30-50% for their information and assistance in collecting the funds. The more help you provide, the more you can charge ethically. Some larger funds or more complicated cases may require brief intervention by an attorney, and many claimants may never be able to afford the $500-1000 it would take to release their money. Clearly, this is a service that needs to be provided, especially with the number of foreclosure surpluses currently being created.
Since these funds are often in large amounts ($10,000 and up) and are subject to reversal, i.e. they are lost to the government if not collected on time, money seekers are in demand and can generate quite a large income if They work on full claims. weather. If you can find records, find owners, and connect the two, you just need to make a few nice claims a month to push your income into the six figures.