{"ok":true,"canonical_url":"https://dealroom.so/glossary/legal-fees","api_url":"https://dealroom.so/api/public/glossary/legal-fees","data_freshness":{"sba_records_through":"2026-05-31","fdic_records_through":"2026-03-31","dealroom_last_updated":"2026-06-15","timezone":"America/Chicago"},"source_summary":["Public SBA 7(a) loan records","FDIC institution data","DealRoom lender and franchise enrichment"],"term":{"slug":"legal-fees","term":"Legal fees","group":"Doing the deal","definition":"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":"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.","url":"https://dealroom.so/glossary/legal-fees","official_sources":[],"related":[{"slug":"closing-documents","term":"Closing documents","url":"https://dealroom.so/glossary/closing-documents"},{"slug":"lender-closing-costs","term":"Lender closing costs","url":"https://dealroom.so/glossary/lender-closing-costs"},{"slug":"due-diligence","term":"Due diligence","url":"https://dealroom.so/glossary/due-diligence"},{"slug":"total-project-costs","term":"Total project costs","url":"https://dealroom.so/glossary/total-project-costs"}],"related_questions":[{"question":"Can a lender include unapproved legal fees in a Universal Purchase Package (UPP)?","url":"https://dealroom.so/for-lenders/questions/can-a-lender-include-unapproved-legal-fees-in-a-universal-purchase-package-upp"},{"question":"Are pre-closing legal and accounting fees eligible to be counted towards my equity injection?","url":"https://dealroom.so/sba-7a/questions/are-pre-closing-legal-and-accounting-fees-eligible-to-be-counted-towards-my-equity-injecti"},{"question":"Can professional fees I've already paid (e.g., legal, valuation) count towards my equity injection?","url":"https://dealroom.so/sba-7a/questions/can-professional-fees-i-ve-already-paid-e-g-legal-valuation-count-towards-my-equity-inject"},{"question":"Are legal fees for closing the SBA 7(a) loan typically financed within the loan amount?","url":"https://dealroom.so/sba-7a/questions/are-legal-fees-for-closing-the-sba-7-a-loan-typically-financed-within-the-loan-amount"},{"question":"Can pre-closing legal and accounting fees associated with the acquisition be counted towards my equity injection?","url":"https://dealroom.so/sba-7a/questions/can-pre-closing-legal-and-accounting-fees-associated-with-the-acquisition-be-counted-towar"},{"question":"Can closing costs such as legal and accounting fees be included in the total project cost for the 10% calculation?","url":"https://dealroom.so/sba-7a/questions/can-closing-costs-such-as-legal-and-accounting-fees-be-included-in-the-total-project-cost-"}]},"caveats":["Definitions represent DealRoom's plain-English interpretation for buyers; verify regulatory terms against the official SBA and eCFR sources listed.","Not legal, tax, or financial advice, and not an SBA eligibility determination."],"citation":{"label":"DealRoom.so Glossary — Legal fees","url":"https://dealroom.so/glossary/legal-fees","source_type":"DealRoom Data"}}