Experience Using a Shared Attorney on an Acquisition?

May 11, 2026

by a searcher from The University of Michigan - Stephen M. Ross School of Business in Kirkland, WA, USA

Hello Searchfunder Community, Has anyone here done a deal where both the buyer and seller used a single attorney to draft the purchase agreement and represent both sides? A broker recently suggested this approach to me for smaller deals to help reduce legal costs and keep things moving efficiently. I don’t have any firsthand experience with it and am curious how common it is in practice. Post Edit: I may have misunderstood the broker’s recommendation originally. After reviewing the feedback here, I understand this is not a good approach. Appreciate the quick responses and insights from everyone. Thank you!

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Reply by a professional
in Richland, WA, USA

Hi Dwight. As an experienced buy-side M&A lawyer I'll echo what folks have already said. First, I don't think you'd find anyone willing to take on this role (at least nobody who knows what they're doing). It's virtually impossible to effectively represent both parties. Second, given how binary many clauses are in a purchase agreement, as buyer you would get marginal counsel at best. As an example, take financial representations. Seller wants vague, low commitment, hard to enforce financial reps that are subject to a low cap and quick expiration (to limit their exposure). Since you're often going to be PGing a large loan based on financials, you want a clear, committed, enforceable financial reps with high cap, and long expiration. How does one lawyer effectively advocate for both buyer and seller here? They can't. Finally, one lawyer for both means that they can't have a confidential consultation/conversation with either of you. If your lawyer can't have a confidential conversation with you about strategy, findings, negotiation points, you really don't have a lawyer. So, bottom line is that's a horrible idea and I think brokers who suggest that are doing everyone a huge disservice.

Reply by an intermediary
from The University of Michigan in Bonita Springs, FL, USA

A single attorney representing both sides isn't wise and a broker suggesting this is irresponsible (coming from a broker). If a "closing attorney" is representing the transaction and not representing either side, and each side has their own attorney, that is fine. No matter who is papering the deal, always, always have your attorney representing your interests review the documents.

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