15
Dec

Make the Unexpected be the Expected! 

We are told that to be really good at anything, one must expect the unexpected. But do we? I think that we tend to fall into the “I will remember that next time” philosophy when it happens.

Performing the mundane administrative side of our work becomes more muscle memory than a challenge to really create opportunities or avoid roadblocks for our clients.

After all, we brokers aren’t allowed to offer any legal advice, right? So, looking out for roadblocks with any preparation for the “maybe,” or “kind of,” or “this happened to a friend,” is someone else’s job.


Let me share a little something that you all should make a part of your routine contract finance contingencies. This lesson will save you a lot of stress, begging, and perhaps less gray hair. More importantly, it might save a deal for you that looked routine but then wasn’t. You see, over the last few years several of my clients have used SBA financing. These programs take a little longer for approvals and to close. You tweak your financing contingencies accordingly to avoid having to ask the Seller for any extensions.

But what about the unexpected government shutdown? Can anyone predict this type of event that can have a fatal impact on an SBA loan? Well, I remembered that almost all leases have a provision for ‘Force Majeure’ and thought this would be helpful to have in my SBA contracts.
Well, people laughed when I started putting this into every contract that had a government agency involved in the financing. I say let them laugh away if they want, as we just went through the longest government shutdown in history! Yes, we have been under contract subject to SBA approval, the entire time.
Let me tell you that because I put those two little words, ‘Force Majeure” in the contingency, my client loves me, and I was able to go to California for a short trip with all my hair and no worries. Best news, we are still under contract!

I am here to tell you to expect the unexpected, and that this little tip could make you look really good at your job in that situation. So, I wanted to share it and hope that you will use it, whether or not you think it could happen…again! 
Let us handle the unexpected, so you can expect success! 
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