Question on Attorney help for acquiring business

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by a searcher from Florida International University
in Fairfax, VA, USA

1h ago

Question on Attorney help for acquiring business

I am a first time buyer planning to explore on buying existing business. I had a question on the Attorney help needed in the process. 1. How do you contract with attorneys for the work needed. For ex: you might need to submit a LoI for a given business interest. Do attorneys charge for each LoI or do you contract with them and there is a set contract fees or they go by hour ?. 2. Do attorney's typically have to review each LoI we submit or they help with a initial template and subsequent LoI can follow the same template ? 3. Any referrals you can share for attorneys. I am looking for 1.5M to 3M budget range and most likely narrowing down to HVAC area in the mid-Atlantic area. Thanks in advance

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reply by a professional 29m ago
from Villanova University in West Chester, PA, USA

Hi Girish, I’m an attorney with years of experience in business acquisitions. I also have specific experience with HVAC businesses. If you need legal support or insight, I would be happy to help. Please see my private message for more information.

reply by a professional 4m ago
from University of Michigan in Detroit, MI, USA

Hi ^redacted‌, to answer your questions. (1) most law firms focused on this space (7th Street Legal included, which is my law firm) charge by the hour for pre-deal work. This includes assistance preparing and negotiating the LOI. (2) Many searchers forgo direct legal assistance during this phase, instead choosing to rely on a solid form LOI and help from this community and other places. Others want limited support, such as help structuring the purchase price or a review limited to SBA compliance. It's really up to you as the client and depends in part on your background and experience. (3) I'd be happy to meet and discuss what it's like to work with 7th Street Legal. Feel free to reach out at redacted and we can schedule a time talk. It won't cost you anything and it'd be great to hear more about your plans.