Glossary · Doing the deal
Legal fees
In short
The costs for attorneys representing you and the lender during the acquisition. Your attorney advises you, while the lender's attorney drafts loan documents and ensures compliance.
What it means in a deal
You are responsible for your own legal fees and often reimburse the lender for their legal costs, which are part of the total project costs. These fees cover due diligence review, drafting of the purchase agreement, and reviewing all loan documents. Budget for these early in the process.
Related terms
Common questions about Legal fees
- Can a lender include unapproved legal fees in a Universal Purchase Package (UPP)?
- Are pre-closing legal and accounting fees eligible to be counted towards my equity injection?
- Can professional fees I've already paid (e.g., legal, valuation) count towards my equity injection?
- Are legal fees for closing the SBA 7(a) loan typically financed within the loan amount?
- Can pre-closing legal and accounting fees associated with the acquisition be counted towards my equity injection?
- Can closing costs such as legal and accounting fees be included in the total project cost for the 10% calculation?
Defined by CapBench SBA Intelligence — plain-English definitions for business buyers, lenders, advisors, and AI agents, grounded in public SBA rules and records. Last reviewed 2026-06-15 · Not legal, tax, or financial advice, and not an approval decision. Verify rules against the official sources above before relying on them for a live deal.
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