Three File Gaps That Surface Right Before Close

The Pattern

Transactions rarely fall apart because of a single missing document. More often, they unravel because several small gaps surface at the same time—usually when timelines are tight and flexibility is gone.

These gaps tend to stay invisible until a file is already approaching close.

Where the Gaps Appear

Incomplete execution
Documents exist, but signatures, initials, or required attachments are missing. The intent is clear, but the record is not complete enough to stand on its own.

Misalignment across documents
Disclosures, contracts, and amendments technically exist, but they don’t tell a consistent story. Dates conflict. References lag behind changes. Corrections are implied rather than documented.

Assumed future cleanup
Files move forward with the expectation that remaining items will be resolved later. As closing pressure increases, those “to-dos” turn into liabilities instead of tasks.

Why Timing Makes This Worse

When these gaps are discovered late:

• leverage shifts
• options narrow
• fixes become negotiated instead of procedural

At that point, the issue is no longer documentation—it’s timing.

Observation

None of these gaps are unusual. What creates risk is discovering them only when deadlines remove the ability to correct them cleanly.

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