Do you need a lawyer for your LOI ?

by a searcher from University at Albany, State University of New York - School of Business

4 months ago

Can we use a template LOI that you can find in a lot of training courses e.g. Codie Sanchez Biz Buying course?

If not, why cant you use a lawyer one time to draft an LOI for you and then reuse it by adjusting the price.

What do you guys pay for your LOI from a lawyer?

1 like
79 views
10 comments

professional from University of Southern California - Marshall School of Business

Yes.

2 months ago | like reply | 0 likes

professional from University of Michigan - Ann Arbor

Hi ^Searchfunder member‌, as a lawyer, I will be honest with you and say that many of our clients comes to us post-LOI signing. It's also becoming common for lawyers to share their LOI templates, and even provide free advice on how best to approach drafting your LOI (whether through a structured webinar or informally). All that is to say, no, you don't need to hire a lawyer to draft an LOI, but, ideally, you'll get some input from experienced professionals before doing so. if you want another LOI template, feel free to reach out at --@----.com and I can send you one. Always happy to discuss too. Good luck!

4 months ago | like reply | 0 likes

More on Searchfunder

Just Closed on My First Deal! Reflections and Takeaways for other Searchers

45,152 transactions are available on Searchfunder (now searchable by keyword)

Now everyone has unlimited IBISWorld access

Family office looking for traditional searchers

Self Funded Acquisition: A few Things I Learned

2 Best Ways To Find Motivated Sellers, Off-Market Deals

Examples of self-funded searcher websites

Investor seeking Self-Funded Search Deals

Searchfunder is an online community and toolkit for searchfunds. Over 80% of those involved in searchfunds maintain a Searchfunder.com account to help them network, problem solve challenges, and keep up with the industry.

We maintain partnerships with database providers that make searching more effective, efficient and affordable along with features that help searchers find deals and investors and vice versa.