A surplus funds fee agreement is the contract between you and the property owner that makes the deal official. Without a signed agreement, you have no legal basis to collect your fee. Getting this document right, and getting it signed quickly, is one of the most important skills in surplus funds recovery.
What a Fee Agreement Should Include
Every surplus funds fee agreement should cover these essential elements:
Parties. Full legal names of the recovery agent (or company) and the property owner. If the owner is deceased and you are working with heirs, name them clearly along with their relationship to the original owner.
Description of funds. Identify the specific surplus funds: the county holding them, the property address, the parcel number, the approximate amount, and the date of the sale that generated the surplus.
Fee percentage. State your fee as a clear percentage of the gross amount recovered. Most agents charge 10% to 35%. Be transparent. Ambiguity about fees erodes trust and can create problems later.
Scope of work. Describe what you will do: research the claim, prepare and file the necessary paperwork, communicate with the county or court, and follow through until the funds are disbursed.
Payment terms. Specify when and how you get paid. The standard arrangement is that the county sends the check to the property owner (or to the agent if authorized), and your fee is paid from the proceeds. Some agents require payment within a set number of days after the owner receives the funds.
Duration and termination. Include how long the agreement lasts and under what conditions either party can cancel. A typical term is 12 to 24 months, giving enough time for the claim to process.
Fee Caps and State Regulation
Several states regulate what surplus funds recovery agents can charge. Some impose statutory percentage caps, some require disclosures, and some leave fees to be tested by the courts. The specific rules and the dollar thresholds change over time and vary by state.
Before drafting any fee agreement, check the current statute in the state where the funds are held and consult a licensed attorney in that state. Fee cap laws are amended, court interpretations evolve, and some counties have local rules that differ from state-level statutes. Surplus Funds List is a technology platform, not a law firm; we do not interpret state regulations and the figures you find in any older article should be re-verified at the source.
See our Georgia surplus funds directory for county-by-county contact info and claim details.
Optional but Recommended Clauses
Power of attorney. Some counties require a limited power of attorney for you to file the claim on the owner’s behalf. Including this as an attachment to the fee agreement streamlines the process, so the owner signs everything at once.
Exclusivity clause. Prevents the owner from hiring another agent or filing the claim independently during the agreement term. This protects your investment of time and resources in researching and preparing the claim.
Expense reimbursement. If you incur out-of-pocket costs (court filing fees, notary fees, certified copies), specify that these are reimbursed from the recovery proceeds in addition to your fee percentage.
Getting the Agreement Signed Fast
Speed matters. The longer it takes to get a signature, the more likely the owner is to lose interest, get contacted by a competitor, or simply forget. Here is how to reduce friction:
Use e-signatures. E-signatures are legally valid under the federal ESIGN Act and the Uniform Electronic Transactions Act (UETA) adopted by most states. Sending a contract by text or email that the owner can sign on their phone closes deals in minutes instead of days.
Keep the language simple. Property owners are not lawyers. Write the agreement in plain English. Avoid jargon and legalese. A document they can understand builds confidence and reduces hesitation.
Send while on the phone. The most effective approach is to explain the agreement during a phone call, then text or email the signing link while the owner is still on the line. Walk them through signing it. This single tactic dramatically increases your close rate.
Need surplus funds data to work? Browse Florida surplus funds lists for one of the highest-volume markets.
Your Agreement Is Your Business
A clean, professional fee agreement protects both you and the property owner. It sets clear expectations, establishes your authority to act, and ensures you get paid for your work. Invest time in getting your agreement template right, then use e-signatures and phone-based closing to get deals signed fast.