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Updated 14 days ago on . Most recent reply

John Smith's profile image
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John Smith
  • Member since Apr 30, 2024
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John Smith's profile image
John Smith's profile image
John Smith
  • Member since Apr 30, 2024
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John Smith
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4
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Private Lending & Conventional Mortgage Advice

First Lending Deal - Who Pays Legal Fees?

John Smith
Posted

A partner and I will be doing our first lending deal. A 12 month loan to finance a property redevelopment. We will be creating an LLC and hiring a real estate attorney to prepare all the necessary loan documents. Who typically pays the legal fees for all that? Us, the lender? Or the borrower? If the borrower, how is that typically handled in the documents?

Apologies for the elementary question. Thanks so much.

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