Lawyer and Accountant Fee Structures

by a searcher from Arizona State University

7 years ago

Does anyone know what it should cost to have a lawyer review the PPM and create a Purchase Contract/LOI?  How about the cost of having an accountant review the financials (official or unofficial audit)?
Additionally, what are some ideal fee structures that could be set up with the lawyers/accountants?  I'm a self funded searcher and want to minimize costs as much as reasonably possible.  I've heard that guys will defer their legal fees until###-###-#### days post acquisition and the cost usually ends up around $10k if you do much of the work yourself.  
I'm curious to know what payment/fee structures each of you have chosen or plan to choose with your lawyers and accountants.

I greatly appreciate any insight you'd be able to provide.
-Gus Gabel

8 likes
369 views
7 comments

intermediary from Pennsylvania State University

interesting

7 months ago | like reply | 0 likes

searcher from Harvard University - Harvard Business School

I think you should be able to craft an LOI template yourself. If you have a searcher who has done this and can share with you their Template, it would be best. Same goes for purchase agreement. I think if you can take a stab at filling these out, you would only need a lawyer to take a look at your document, if at all, which would cut down on the amount you need to pay them. Start developing a searcher network if you haven't already.

7 years ago | like reply | 0 likes

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