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Asset Purchase of a Small Business
Representing you as the buyer in the purchase of the assets of a local business, from the letter of intent through closing. The estimate is based on our hourly rates and the hours we expect each phase to take.
| Letter of intent | |
|---|---|
| Review and negotiate letter of intent (partner hours) (3) | $1,050.00 |
| Due diligence | |
| Due diligence request list and document review (associate hours) (14) | $3,150.00 |
| Lien, judgment, and litigation searches (paralegal hours) (4) | $500.00 |
| Due diligence memo and call (partner hours) (3) | $1,050.00 |
| Purchase agreement | |
| Draft asset purchase agreement and schedules (associate hours) (16) | $3,600.00 |
| Review and negotiate the agreement (partner hours) (10) | $3,500.00 |
| Closing | |
| Bill of sale, assignments, and closing documents (associate hours) (8) | $1,800.00 |
| Closing checklist and coordination (paralegal hours) (6) | $750.00 |
| Closing and post-closing filings (partner hours) (3) | $1,050.00 |
| Costs | |
| Search and filing fees (estimated) | $450.00 |
| Total | $16,900.00 |
Notes
This estimate is valid for 30 days. It's an estimate, not a fixed fee. Time is billed at our hourly rates in tenths of an hour.
What could change it: how organized the seller's records are, how much the agreement is negotiated, leases or licenses that need consent to transfer, lender requirements, and any issues found in due diligence. Not included: tax advice, financing documents, real estate purchases, and employment matters. We'll tell you early if the work is heading past this estimate.
Our engagement letter will set out the scope and terms once you're ready to go ahead.
How to use this template in Clientary
- Edit it online. Change any line item, price, or note, or add your own. No account needed.
- Preview it as your client will see it. Fill in who it's for and pick a design.
- Start your free trial to send it. Confirm you'll have it reviewed, since templates aren't legal advice, and your estimate is waiting in your new account with your client's details filled in.
- Send it for approval. Your client accepts it online, and you can turn it into an invoice or a project.
Learn more about estimates in Clientary.
