Why is it important to have an attorney draft a contract instead of using a form off the internet?
Form contracts are great, but they are written to cover most transactions as it is impossible for the form contract to cover every possible scenario. This is no different than a one size fits all hat that fits most of the population but does not fit people with really large or small heads. As such, by hiring an attorney for contract drafting you can ensure there is nothing contradictory to what you are trying to do with the transaction in your contract.
How can I minimize my costs for contract drafting?
The most important factor is to keep an open line of communication with the attorney drafting your contract. By ensuring that you have let the attorney know about what you are trying to do with the contract, you can keep from having to go through several rounds of edits. Additionally, if cost is truly a concern, you can make the first attempt at drafting the contract and have the attorney make edits or changes. This can reduce your costs because the contract isn’t being drafted from scratch and your intentions will likely be written into your draft contract.
Can I just send tell you I want a contract and wait to get it back?
Contract drafting is a collaborative process. If I just know you want a certain type of contract, I am merely providing you a form contract, which would have the same issues as any other form contract. Therefore, it is important to take the time to discuss what you are trying to do with the contract and what things are most important to you. Similarly, you should not use a contract provided by an attorney for a specific transaction in all of your transactions. This is because each transaction may be different, which would make provisions in the contract inapplicable. Furthermore, the costs of having an attorney modify a contract he or she previously drafted should be significantly less than drafting a new contract.