Pre-market preparation
Financials to accrual basis + documented add-back schedule + broker engagement + CIM drafted.
| Prep quality | Duration (weeks) | Duration (~months) |
|---|---|---|
Excellent | 2–4 weeks | 0.5–0.9 months |
Average | 4–8 weeks | 0.9–1.8 months |
Poor | 12–24 weeks | 2.8–5.5 months |
What eats the clock
- Cash-basis to accrual conversion
- Broker interview + selection cycle
- CIM drafting + review
Where deals stall
- Books materially messier than the seller believed
- Owner disagreements over add-back schedule
