One Email That Saved the Closing

[Drago Stanimirovic]

We were close. Really close.

Everybody thought we were down to the easy part. The financing was approved, inspections were behind us, everyone had started talking about the closing date instead of whether the deal would close at all...

Then somebody noticed something. One document didn't match another. Nothing dramatic: just enough to make everyone stop.

For a while, it looked like one of those situations where ten people start sending emails, nobody answers the actual question, and two days disappear.

Then one person sent a different kind of email.

It wasn't long. No legal language. Nothing rude, no finger-pointing. No CC'ing fifteen people just in case.

It simply said, "I think we're all looking at the same problem from different angles. Here's what I believe happened..." 

A few bullet points. One question: "Is everyone seeing it the same way?"

Within an hour, people who had been talking past each other started talking to each other.

The answer turned out to be simple. The closing happened on time.

I don't remember the purchase price any more. I honestly don't remember the interest rate either. But I still remember that email.

It's funny what sticks with you in this business: people assume deals are saved by brilliant negotiations or last-minute miracles. Sometimes they're saved because one person decides to slow everything down, explain the situation clearly, and give everyone else a chance to get back on the same page.

That probably doesn't make for a great movie. But it makes for a lot of successful closings.

(Have you ever seen one phone call, one email, or one conversation completely change the direction of a deal?)