I have been having a lot of conversations with buyers lately and the same theme keeps coming up, so I want to hear from people who have closed deals. The CIM is written by the seller or their broker to sell the business. It tells you what they want you to know. It does not tell you what they left out. A few honest questions: Have you ever gotten deep into a deal and found the reality did not match the story in the CIM? Reviews that were not what they seemed, a licensing or legal issue nobody mentioned, revenue leaning heavily on one customer, that kind of thing. Do you do any independent verification before you submit an LOI, or do you mostly take the CIM at face value until real diligence starts post LOI? And if you could verify the seller's claims against public data before spending a dollar on advisors, would that actually change how you operate? Or is that just not where your real pain is? Genuinely trying to learn whether this is a real problem or just one that sounds like one.