lurkingbong
Junior Member
What is the name of your state (only U.S. law)? Nebraska
Myself and my partner are looking to buy a distressed business which owns a lot of money to the bank. We are looking to buy the existing inventory from the bank which holds a lien on the inventory. We have talked to an attorney who is going to do the negotiations for us with the bank. We are also going to get the right to use the name of the business from the current owner.
My questions to the esteemed forum is how much should this cost us? I mean how much ballpark the attorney's fees should be? We have no experience in buying distressed property before so what are the things that we need to do to make sure the attorney knows his stuff and we do end up getting the property?
Is there anybody in the midwest willing to work with us and have experience dealing with distressed businesses.
LB
Myself and my partner are looking to buy a distressed business which owns a lot of money to the bank. We are looking to buy the existing inventory from the bank which holds a lien on the inventory. We have talked to an attorney who is going to do the negotiations for us with the bank. We are also going to get the right to use the name of the business from the current owner.
My questions to the esteemed forum is how much should this cost us? I mean how much ballpark the attorney's fees should be? We have no experience in buying distressed property before so what are the things that we need to do to make sure the attorney knows his stuff and we do end up getting the property?
Is there anybody in the midwest willing to work with us and have experience dealing with distressed businesses.
LB