Most closing-day problems do not start on closing day.
They often start weeks earlier, with a document nobody requested, a condition nobody read closely or a call that did not happen until the lawyer asked for funds.
Getting a deal funded is a team sport. The broker, the lender, the appraiser, the lawyer and often the Realtor each hold a piece of the file. When everyone is working towards the same goal, and the same timeline, a closing can be uneventful, which is exactly how it should feel. When one link breaks, even a strong file can stall the day of closing.
That is the focus of our next webinar. On Thursday, October 29 at 11:00 AM ET, we are teaming up with Nathaniel Brettle, Lawyer and Partner at Property Law Firm CB LLP, for Building Your Team: Organize Partnerships for Smooth Closings. It is free, and it is built for Ontario mortgage agents and brokers. Register for the webinar.
In our experience, delays rarely come from one dramatic event. They generally come from small gaps that add up:
Each of these can usually be managed when it surfaces early. Most become much harder when they surface late.
Every file is different, but the same roles appear on almost every closing. What changes is how early each one is involved.
The broker is often the only person who sees the client’s full picture: the property, the debts, the timeline and the exit. That makes the broker the natural quarterback.
Every application should begin with the exit, and the broker is usually the one who can define it, whether that is a sale, a bank refinance, a renewal once the profile supports it or another reliable repayment source.
The earlier a lender sees the file, the more room there may be to structure it. At Tembo, brokers can receive initial deal feedback in as little as one hour. On a complete and workable submission, a commitment can be sent in four business hours, and in urgent situations, Tembo can fund within 48 hours of receiving a complete application and satisfying all funding conditions.
Tembo is a direct lender. We lend our own money and make our own decisions, so there is no syndicate to wait on and no investor approval to chase.
That speed generally depends on the file arriving complete, which is why the rest of the team matters so much.
An appraisal that comes in low can change the loan-to-value ratio, and it can often kill the deal or change the structure entirely. Ordering early, and knowing what happens if the number comes in short, may give everyone time to adjust. In some lower loan-to-value cases, Tembo may not require an appraisal at all, depending on the application. Having a strong relationship with your appraiser partners is essential for getting an opinion on value before they visit the property.
The real estate lawyer is the glue that brings everything together. They see what is registered on title, coordinate the payouts and confirm that funds can move on the expected closing date. Involving the lawyer early is key, and understanding their capacity to close quickly helps when a rush file hits your desk. If a file has a surprise, it usually pops up at the lawyer’s office: title issues, liens, payout complications, shortfalls or title insurance problems. Plenty of items can pop up at the last minute. Lawyers who uncover these problems early and solve them quickly are essential for deals to close on time and without headaches. This is where Nathaniel’s perspective is especially valuable, and it is a big part of what we will cover on October 29.
When a Realtor is involved in the transaction, they often hear first when a closing date moves, a condition changes or the other side’s financing is in doubt. Brokers who keep clear lines of communication with their Realtors can address problems before they become big issues.
Realtors are also welcome to call Tembo directly when a deal is at risk. We can gather the basics, may assist the homeowner directly and will bring in the mortgage broker when the file needs them.
Relationships and clear communication are key among all stakeholders involved in a deal to ensure a quick, smooth transaction. The goal is always to close on time and be proactive with any potential hiccups. Having partners you trust is essential for building a successful business in real estate.
Consider an illustrative purchase that is set to close in three weeks. The appraisal comes in about $40,000 below the purchase price, and the buyer’s lender reduces the approved amount.
If the broker learns about it the week of closing, the options can narrow quickly. If the broker hears about it the day the report arrives, and the lawyer, the Realtor and a private lender are already in the loop, there may still be time to look at a short-term second mortgage against equity the buyer holds in another property, a larger down payment from another source or a renegotiation with the seller.
The appraisal is the same in both versions. What changes is how early the team knows and how they work together to come up with a solution.
A complete submission generally includes:
(Brokers do not need Form 1s to submit to Tembo!)
Conditions on an approval are where many delays begin. Reading them the day they arrive, and calling the lender or the lawyer about anything unclear, can save the file from becoming delayed days later.
A strong team includes a plan B. Brokers who already know how a private lender works, and what it needs to see, may be able to move quickly if a bank or B lender cannot close on time. That is one reason many brokers build the relationship before a file needs it, not during the week of closing. Asking the client about additional properties they own, or a family member who can step up in a worst-case scenario, can help uncover alternative solutions.
A short call with the client can set expectations, too:
“Before we go ahead with this, I want to make sure the whole team is ready: the lender, the lawyer and the appraiser. If anything changes, you will hear it from me first, and we should still have time to adjust.”
Building Your Team: Organize Partnerships for Smooth Closings brings the lender’s view and the lawyer’s view of the closing table into one conversation. We will cover:
The webinar runs Thursday, October 29, 2026 at 11:00 AM ET, live on Microsoft Teams. It is free for Ontario mortgage agents and brokers, so bring your questions. Register here.
Save your seat for Building Your Team on Thursday, October 29 at 11:00 AM ET. Have a file with a closing date attached? Call Tembo Financial at 416-238-6717 or visit www.tembofinancial.com, and let’s see whether there is a path forward.
This scenario is illustrative and does not represent a guaranteed approval, timeline or funding outcome.
All applications are subject to Tembo Financial’s underwriting criteria, satisfactory documentation, property review, available equity and fulfillment of all funding conditions.