How a Consumer Hired a Lawyer to Draft a Master Promissory Note in Florida

In 2023, a personal client in Florida sought assistance with drafting a master promissory note for a loan arrangement. The client aimed to establish a secured loan agreement, ensuring that property would serve as collateral in the event of non-payment. The couple, who are members of an LLC owning the property, intended to formalize their commitment to the loan, outlining that failure to repay within the specified timeframe would result in the property satisfying the debt. As a result, the client received four proposals from licensed lawyers, with flat fee bids ranging from $750 to $1,200, all submitted to meet the requested deadline of less than a week.