Why the Fastest Buyer Usually Wins (And It's Not About Being Reckless)

I'm a corporate/commercial, M&A lawyer based in Toronto working with searchers and independent sponsors on both sides of the border. Over the past few years, I've watched dozens of deals and I've noticed a pattern. The faster buyer usually wins. Fastest as in organized, decisive, and prepared, not reckless Here's what I'm seeing right now in the search fund market: 1. Multiple qualified buyers on every decent deal If it's a good business with a competent broker, assume 3-5 serious competitors are looking at the same CIM you are. 2. Sellers favoring "certainty to close" over maximum price I've watched sellers accept offers 10-15% below the highest bid because they believed that buyer would actually close. 3. Brokers screening for serious buyers early If you're taking 3 weeks to submit an LOI or asking for 90 days of exclusivity, you're getting deprioritized. Brokers have limited time and they focus it on buyers who can move. In a competitive market, being 10% slower means you're likely to lose 100% of the time. Over the next few weeks, I'm going to break down where deals are actually dying, and more importantly, how to move fast without cutting corners or taking stupid risks. Topics I'll cover: The LOI stage: Why Week 1 matters more than you think Due diligence: The speed without stupidity framework Financing: Why this should be figured out BEFORE you go under LOI Purchase agreements: How to negotiate fast without getting screwed If you've ever lost a deal to a faster buyer and wondered what they did differently, this series is for you. Drop a comment if there's a specific stage where you're getting stuck or want me to dig deeper.