Seller wants to close now, but banks need 60 to 90 days?

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November 28, 2025

by a searcher from Dartmouth College - Tuck School of Business at Dartmouth in Hanover, NH, USA

I am looking at a seasonal business where the owner needs to bow out for health reasons. They have ordered inventory for the 2026 season but are trying to decide whether to close the business next year and cancel the inventory order, which is critical to the business running. Their broker (a real estate broker) has told me that they would need to close by Jan 1 in order to avoid cancelling the order. The banks I have spoken with would need###-###-#### days to close, which is incompatible with the seller's 30-day timeline. Does anyone have suggestions on how to give the seller comfort that we are moving forward despite the timelines not lining up?
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Reply by a searcher
from Carnegie Mellon University in Pittsburgh, PA, USA
Go work there as an interim leader while you work through the logistics of the acquisition.
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Reply by a searcher
from Bentley University in Exeter, NH 03833, USA
Are you able to draft a purchase agreement with a non-refundable deposit that covers the cost of the order (that way he has no financial risk), and have the purchase agreement provide a###-###-#### day timeline for you to close, and get the financing in place? Do you have the cash to do that?
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