As per title, I'm interested to buy a property from a friend. We have agreed on the selling price ($1.1mil) and I'm wondering what's the most cost effective way for such sales and purchase. I don't have sufficient cash in hand so I definitely need to get a mortgage (to at least secure for 50%-60% loan).

My question is, should I a) approach the banker first, and once loan granted in principal approval then only approach for a lawyer (or should these be done concurrently)? Or b) to hire a mortgage consultant on mortgage part and to hire an agent for S&P. How much is the estimated additional cost if I were to opt for option B?

Thank you.