Why Some Deals Close Smoothly and Others Stall for Months
This one was a profitable service business in New York - steady revenue, loyal staff, and clean books. The owner was ready to retire after years of running the business, and you could tell he wanted a smooth handoff.
The buyer checked every box: experienced, pre-qualified, and decisive. That combination alone changes the tone of a deal. When both sides show up prepared, it doesn’t guarantee a quick close - but it removes a lot of the friction that usually slows things down.
Phase 1: LOI to Diligence (Weeks 1–3)
The moment the LOI was signed, we got moving. No “we’ll circle back next week” delays.
We kicked off with a diligence checklist on day one, weekly touchpoints already scheduled, and clear expectations set for both sides. That structure is what keeps things from drifting.
The seller set the tone early - every document request was handled within 24 hours. Tax returns, lease copies, payroll reports - everything came back quickly and neatly organized. That alone saved a week. When sellers respond that fast, buyers gain confidence, and lenders stay engaged.
The first three weeks were about clarity: what’s missing, who’s responsible, and when it’s due. Deals fall apart in the gaps between those details - our job is to close those gaps before they widen.
Phase 2: Financing & Lease (Weeks 1–6)
Here’s where most deals start to lose momentum. Financing always takes longer than people expect, and landlord approvals almost never move at the same pace.
The lender ordered valuation early - before the full diligence package was even complete - which helped us stay ahead. Meanwhile, we didn’t wait for underwriting to reach out about the lease. The landlord was looped in before the appraisal even came back.
That single move saved weeks. Buyers often underestimate how long it takes to get a landlord’s approval, especially in New York. Between background checks, credit reviews, and attorney back-and-forth, it can easily drag.
We helped the buyer assemble a clean landlord packet: résumé, financials, business plan, LOI summary, and lender letter. By the time the appraisal landed, the landlord already had everything they needed.
Result: no last-minute surprises, no frantic paperwork exchange the week before closing.
Phase 3: Documentation & Closing (Weeks 6–10)
Once financing cleared, it was time to bring it home. The attorneys finalized the purchase agreement, the lien search and tax clearance were ordered, and we reviewed the closing checklist one more time to make sure nothing slipped through the cracks.
Of course, there were hiccups. There always are. An insurance certificate that needed updating. A last-minute question about inventory count. A buyer’s attorney who wanted to rephrase a clause that was already agreed to three weeks earlier.
But when communication is strong, none of that derails you. Because everyone was already in sync, each small issue was handled the same day it popped up. No one was waiting days for answers, and that’s what kept the energy up through the final stretch.
By the time closing week arrived, the only thing left to do was schedule the wire and sign.
Key Takeaways
Momentum matters more than speed. Even a 90-day close feels smooth when everyone keeps pace.
Over-communicate early. Weekly updates and shared timelines prevent last-minute chaos.
The landlord can make or break the deal. Start that conversation earlier than you think you need to.
Prepared sellers save time. Organized books and fast responses create trust and momentum.
Fast closings aren’t magic - they’re managed.
They happen when structure replaces guesswork, when everyone knows what’s next, and when small wins keep stacking each week.
Preparation, communication, and steady follow-through - that’s what actually moves a deal forward.
If you’re thinking about selling your business and want to understand how to keep momentum on your side, reach out - I’m happy to walk you through the same process that helps our clients go from LOI to close without losing steam.