We have no market-wide measurement of how many days funds take to screen a deal, and we will not invent one. What we measured: 45 Titleman underwriting runs finished in a median of 57.3 minutes, with one run in ten over 91.2 minutes. The days that matter are yours: count them in your own file.
What did we actually measure?
One query against production on 18 October 2026 at 05:53 UTC. It counts every underwriting run started in the previous 30 days that finished and was charged with credits, ours and our clients' alike. The clock runs from the start of the run to the delivery of its result.
| Measure | Underwriting runs |
|---|---|
| Finished and charged runs, 30 days to 18 October 2026 | 45 |
| Median, start to delivery | 57.3 minutes |
| The middle half of runs | 39.1 to 71.8 minutes |
| One run in ten took longer than | 91.2 minutes |
Two limits matter. A full underwriting run is deeper than a screen, and we have not timed screens separately, so do not read 57.3 minutes as the time to reject a deal. And the table is what happened, not a promise for your deal. Where a run carries no delivery time, the time of its charge is used (5 of the 45).
What does one day of delay cost?
Take a stated example, not a market statistic: a $10,000,000 purchase at a 6.5% cap rate. That is net operating income of $650,000 over twelve months, or $1,781 for each day. If a deal you would have won waits ten extra days in a queue, the first dollar of that income arrives ten days later, which is $17,808 on this example.
Change the price and the cap rate to your own and the sum is one line. The point is the scale: the cost of a day is small next to the cost of losing the deal.
What does a missed deal cost?
A missed deal costs the profit you had underwritten and did not earn. Keep the same example and add two assumptions, which are inputs and not findings: equity of $4,000,000 and an equity multiple of 1.8x over five years.
| Line | Amount |
|---|---|
| Equity put in | $4,000,000 |
| Returned at 1.8x | $7,200,000 |
| Profit forgone on one missed deal | $3,200,000 |
| Two missed deals in a year | $6,400,000 |
A deal is usually missed because the answer arrived after the bid window, or because the team spent its underwriting hours on a deal that should have been rejected on page one. We have not measured how often either happens at funds, so we print no rate. The table shows only what each miss would cost on the stated inputs.
How do you count your own screening days?
- List your last ten deals that reached a decision.
- For each, write the date the memorandum arrived and the date you passed or advanced.
- Take the median, and note the longest.
- Multiply the deals you lost on timing by your profit per deal.
Those four lines give you a number nobody else can supply. Send us one of the ten and we will run it, so that you can compare our file with yours line by line.
What does screening not replace?
It does not replace the investment committee's judgment, a licensed appraisal, a title search, a physical inspection or legal review. Titleman produces a first read, with each figure tied to a record and the missing items listed, for a professional on your team to check. It does not state a bid price.
See it on a deal you already screened
Request a demo and send an address you have already screened. We will return the result and the open items, and you can compare the days and the figures with your own file.
Prepared by Titleman AI, on behalf of the Titleman team.