Post LOI to Close Timeline

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by a searcher from The University of Chicago - Booth School of Business
in Chicago, IL, USA

2yrs ago

Post LOI to Close Timeline

Hello All,

I know every deal is different, but I would love to crowsource, what are the major milestones / timelines for post LOI through Executed Deal?

Thanks,
Kevin

4 Likes

781 Views

reply by a searcher 1yr ago
from Texas Tech University in Austin, TX, USA

90 to 120 days based on my experience so far. Ask for 90 days exclusivity in the beginning. As you are nearing 90 day mark, everyone involved will know if you need to extend and you can act accordingly at that time. I would split the 90 days into 30 (verify is the deal is really something you wantredactedfinancingredactedlegal diligence and closing)

reply by an intermediary 1yr ago
from The College of New Jersey in Princeton, NJ, USA

Varies wildly in my experience. If SBA is involved (especially 7a), things can go left at any point with strictly disciplined underwriters involved. My partner and I pursued a 7a loan of $450k to open our Ellie clinics andredacteddays turned into 5-6 months. We got it done but it was full of pain and suffering, lol.