How a Consumer Hired a Lawyer to Review a Master Promissory Note in Arizona

In 2023, an individual in Arizona sought assistance with reviewing a Master Promissory Note related to a significant loan of $120,000. The client needed expert guidance to ensure the document accurately reflected a second lien against land being developed for single-family homes, with concerns regarding the construction loan that held the first position. Additionally, the client wanted to clarify their 15% equity stake in the project, which included a minimum return guarantee. As a result, the client received four proposals from qualified attorneys, with flat fee bids ranging from $325 to $750, all submitted to meet the client’s deadline of one week.