A common refrain exists in the due diligence world. That is be prepared for the year end rush. Deals having to close by midnight, December 31st can make the holidays, well interesting to say the least. We always say we live in a land of deadlines. They seem to be elevated with the year end close. Any way to get ahead of the game? Yes, we can! A few basic yet effective tips:
1. Ask! Simple reach outs to referral sources, Principals to inquire if deals are in the works. Can help schedule staff, arrange priorities based on deadlines.
2. List out what takes time, what “eats the clock” – regulatory file review, travel, Phase IIs. Tee certain tasks up before the authorization to proceed.
3. Understand the players involved who will have a say (and take time for reviews and comment!). Banks, legal counsel, client reviews.
4. Anticipate scope, potential issues and client’s risk tolerance based on type of transaction. Timing and quality are the name of the game. A little bit of heads up can go a long way!
The McGovern Group has extensive experience conducting environmental and building due diligence programs. Call us at 602-418-3949 for a friendly conversation.
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Joseph F. McGovern, CBD