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

In 2024, a personal client in California sought assistance with the drafting of a master promissory note and a deed of trust. The client aimed to ensure proper documentation for a significant loan of $800,000 intended for business expenses, specifying terms that included monthly interest-only payments for three years and an annual interest rate of 10%. The client also required the documents to be recorded with the appropriate county upon signing and notarization. As a result, the client received two proposals from licensed lawyers, with flat fee bids ranging from $750 to $1,200, all submitted to meet the requested deadline of one week.