Trusting Your Advisors

by a searcher from The Pennsylvania State University - Smeal College of Business

5 years ago

In the Search community most Lawyers will defer any payment until after closing and will waive costs if the deal falls apart. Maybe I'm a little cynical, but how do you trust that the advisor is actually giving you the best counsel vs. just trying to get to closing and get paid? Does it make more sense to ensure the lawyer is paid no matter what so they provide the best counsel? 

19 likes
239 views
9 comments

searcher from University of Phoenix

Consider making your attorney part of the deal, in addition to their deferred fees. Perhaps that would give them a lot more incentive to make sure your deal gets done right and leans toward your best interest. :-)

4 years ago | like reply | 0 likes

searcher from University of Pennsylvania - The Wharton School

This insight is really valuable, thank you. I think it's important to keep in mind that in the end the lawyer's advice is only advice - and would hopefully be well-sourced. If you have a different opinion, you can always go with your gut.

5 years 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

Examples of self-funded searcher websites

Investor seeking Self-Funded Search Deals

What are market terms for Seller Notes?

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