[Finance] Finders international

[Seagull kimchi]

Anyone had any experience of this sort of thing?

Got a letter explaining that I may be a beneficiary to some kind of inheritance (not a Nigerian prince unfortunately) and that they only give you details after I agree to give them 20% of any assets won over £1,000.

The company are legit, but I'm far too unlucky and suspicious to think much of it. What happens if the inheritance is a moldy, unsaleable house in Toxteth to be shared between me and 10 others?

I've lost a few elderly uncles and aunts recently but they have all had direct descendants and their affairs would have been settled. I have no idea where this may be coming from.

Any advice is welcome, thanks in advance.

 

[Brok]

A quick google shows that I would go for it, they seem genuine so why not?

 

[Seagull kimchi]

A quick google shows that I would go for it, they seem genuine so why not?

Cheers, yep it seems like there's nothing to lose, except if I get lumbered with a derelict property and have to pay 20% of its imagined value.

I just can't look at this without expecting something bad to happen! If it sounds too good to be true - it probably is and all that.

 

[Goldstone1976]

Cheers, yep it seems like there's nothing to lose, except if I get lumbered with a derelict property and have to pay 20% of its imagined value.

I just can't look at this without expecting something bad to happen! If it sounds too good to be true - it probably is and all that.

If you decide to go for it, I’d do two things first:

1 Say “in principle, I’m prepared to give you a finders fee based on what I gain, please send me the contract you propose using. I’m not committing myself until I’ve seen it.”

2 After reading the contract (very carefully!), and if you’re happy with it, say “20%? You’re having a laugh. 5%” (but be prepared to negotiate up a bit). After all, 5% of something is better than 20% of nothing.

 

[Medwayseagull]

Check out the TV programme "Heir Hunters". It gives you a good idea of how these firms work. There is a repeat series on BBC 2 at present so you watch on iplayer.

 

[schmunk]

I enjoy their crispy pancakes, so I'd go for it.

 

[Seagull kimchi]

If you decide to go for it, I’d do two things first:

1 Say “in principle, I’m prepared to give you a finders fee based on what I gain, please send me the contract you propose using. I’m not committing myself until I’ve seen it.”

2 After reading the contract (very carefully!), and if you’re happy with it, say “20%? You’re having a laugh. 5%” (but be prepared to negotiate up a bit). After all, 5% of something is better than 20% of nothing.

Sound advice. The problem is that the contract is the first contact. They basically sent me a contract saying give us 20% or bye bye. They also insinuated that these things take 12-18 months of legal ditherings so anything less than 20% isn't worth their while.

I'm up for trying to negotiate and will have a go on the extreme outside chance that it's a big amount at stake, but if it's a matter of a few thousand I don't think they'd settle for anything less than 20% of that.

 

[Seagull kimchi]

Check out the TV programme "Heir Hunters". It gives you a good idea of how these firms work. There is a repeat series on BBC 2 at present so you watch on iplayer.

Right, good idea. They mentioned in their letter that they are prominently featured on that show, I'll check it out. Thanks.

 

[Blue Valkyrie]

Could well be a scam company pretending to be FI. Call the official FI number, not the one on the letter.

 

[Goldstone1976]

Sound advice. The problem is that the contract is the first contact. They basically sent me a contract saying give us 20% or bye bye. They also insinuated that these things take 12-18 months of legal ditherings so anything less than 20% isn't worth their while.

I'm up for trying to negotiate and will have a go on the extreme outside chance that it's a big amount at stake, but if it's a matter of a few thousand I don't think they'd settle for anything less than 20% of that.

20% is their opening bid; there’s bound to be some wiggle room - though maybe not as low as 5-10%!

I guess the other way of looking at is that 80% of something is a damn sight better than 100% of nothing...

Good luck.

 

[Goldstone1976]

Could well be a scam company pretending to be FI. Call the official FI number, not the one on the letter.

This too.

 

[Triggaaar]

Sound advice. The problem is that the contract is the first contact. They basically sent me a contract saying give us 20% or bye bye.

Remember that G1976 was also suggesting that you ensure that the contract is clear that you only pay a percentage of what you receive, because you were worried you'd have to pay a percentage of something's supposed value (although the contract would have to be pretty ridiculous for that to be the case).

If it helps, just cut and paste what you've been sent on here (ie, the contract), obviously removing all personal details.

 

[The Clamp]

I have no experience of these companies but surely they would have some idea of what might be the value of anything bequeathed to you. Otherwise all they are basing their proposal on is that they have found out you may have been left something. I can’t see how it’s possible they know something has been left to you but nothing further.
I’d push them a bit on what they may know but aren’t disclosing. Otherwise it seems a bit like “we know something you don’t, promise us a cut and we’ll tell you”.

 

[Seagull kimchi]

Could well be a scam company pretending to be FI. Call the official FI number, not the one on the letter.

Oh brilliant suggestion - I will absolutely do that. Thanks.

 

[Seagull kimchi]

Remember that G1976 was also suggesting that you ensure that the contract is clear that you only pay a percentage of what you receive, because you were worried you'd have to pay a percentage of something's supposed value (although the contract would have to be pretty ridiculous for that to be the case).

If it helps, just cut and paste what you've been sent on here (ie, the contract), obviously removing all personal details.

Yep, I need to double check the wording. This letter hasn't come to me directly on account of me living in Korea for the last 13 years. It found it's way to my FIL in the UK somehow, so I don't have it to hand yet. What I have is photos of it.

 

[Triggaaar]

Yep, I need to double check the wording. This letter hasn't come to me directly on account of me living in Korea for the last 13 years. It found it's way to my FIL in the UK somehow, so I don't have it to hand yet. What I have is photos of it.

Cool. Good luck.

PS, you own me 10% of whatever you get, for my advice.

 

[Seagull kimchi]

I have no experience of these companies but surely they would have some idea of what might be the value of anything bequeathed to you. Otherwise all they are basing their proposal on is that they have found out you may have been left something. I can’t see how it’s possible they know something has been left to you but nothing further.
I’d push them a bit on what they may know but aren’t disclosing. Otherwise it seems a bit like “we know something you don’t, promise us a cut and we’ll tell you”.

Your last statement is basically it. When I call them tomorrow I'll certainly push for more details, but I doubt they'll disclose very much until I commit to their conditions. That's their shtick! They absolutely do know how much and how many other people may be in contention. They also do promise to do everything involved in acquiring the fund/assets - hence their fee.

 

[Seagull kimchi]

Cool. Good luck.

PS, you own me 10% of whatever you get, for my advice.

Settle for a pint?

 

[Seagull kimchi]

Interestingly my sister (who has a different surname since marriage) has had no contact from them. If they can find my FIL's address you'd think they'd look at marriage records of siblings ,too?

 

[Triggaaar]

Settle for a pint?

With tickets to South Korea?