Updated almost 12 years ago on . Most recent reply
Lawyers! AAARGH
Planning to make an offer on an 18 unit multi-fam - the realtor has little experience in this and gave me a plain vanilla purchase contract that really doesn't apply. Went to go see an attorney to get his advise on a better contract - he wants $2500!
Clearly not gonna go that route! Anyone here gone this deep without a lawyer? I'm confident I can find good language for all the recommendations I've learned about on this site- wanting to know if anyone else has--
Most Popular Reply
In commercial deals it is common to have an attorney draw up a contract specifically for that transaction. $2500 is in the range of what I would expect.
There are a lot of moving parts and much more due diligence needed in a commercial transaction. You want a good attorney on your side.
This is where a letter of intent is useful. You don't want to spend $2500 to write a contract that may not be accepted. Negotiate with a letter of intent then once you both come to terms you can agree on have an attorney write up a real contract.
Good lukck - Ned