Attorney for APA on straightforward $1.5-$2.5mm

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October 31, 2024

by a searcher from University of Virginia-Darden - Darden School of Business in Tampa, FL, USA

Hi all, what's the typical cost range of an attorney for a straightforward $1.5 - $2.0mm asset purchase? Do you have any recommendations?

Thanks in advance.

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Reply by a searcher
from The University of Texas at Austin in Scottsdale, AZ, USA
0 to $100k plus lol...this will depend primarily on risks specific to the transaction, ancillary docs needed (ie. seller note, security agreement, personal guarantee, etc.) and the opposing counsel's (un)willingness to work with your counsel. The better answer is you can do it for $10-$15k assuming their counsel is reasonable and you are ok with not having EVERY unforeseen event perfectly addressed (and in your favor). Don't be surprised if you have to assume some additional risk to get it done at that price. Alternatively, you may chose to mitigate that risk by fighting for things (typically reps & warranties, guarantees, and holdbacks) that will drive the legal fees up. So if you want to budget X just know that: 1) you may get lucky and get everything you want for that price (unlikely), 2) the contracts will be decent but there are some risk exposures you wish weren't there (business decision to close or fight), or 3) you may have to spend more (even considerably more) if the seller/seller's counsel are fighting you on things that you feel are super important (redline warfare). I'm going through this right now and have some serious scar tissue so pardon my negative skew lol...happy to chat over call if you like.
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Reply by a professional
from Bentley College in Miami, FL, USA
A lot depends on the transaction, opposing counsel, and who you hire. If you go with an independent attorney or a small firm, you're looking at $10k to $15k in TOTAL (not just APA) legal fees, based on what I've seen.

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