For guests
Invited into a room?
ClosingVault is the virtual data room a broker or seller opened for this deal. They pay and you sign in; here’s how your access works.
ClosingVault is built only for lower-middle-market M&A, with more features than $10,000 products.
Last updated: 2026-11-03
Invited into a broker’s room?
You get the same room, free.
Read the NDA in full before you sign it, ask the room for any document, follow your LOI, and read every answered buyer question the sell side has published, with the asker never named.
- Does my access stay open?
- No. In a broker’s or seller’s room, a buyer’s access always ends on a date, and so does a buyer team member’s: two weeks by default, two months at most. The room admin can extend it.
- What about sensitive numbers?
- Account numbers on statements, account details on checks and deposit slips, and Social Security numbers are hidden before you see a document. You get the redacted copy, and a document still being prepared shows as “Being prepared”.
- What if another buyer gets exclusivity?
- Your access pauses; it doesn’t end. You’re told, and it comes back on its own if the exclusivity ends.
- Who decides on my LOI?
- The seller’s owners, by ownership. An LOI is accepted, countered or declined only when owners holding more than half of the company approve. The seller’s team never binds the sale.
- Will I hear about new documents?
- When new documents become visible to you, you get one email a day at most. You can turn it off for the room.
Quick answers
Do I pay?
No. The firm that opens the room pays. Invited buyers, sellers, owners and their teams are always free and unlimited.
How long does my access last?
In a broker’s or seller’s room, access always ends on a date: two weeks by default, two months at most. The room admin can extend it.
Why are some numbers blacked out?
Account numbers, account details on checks and deposit slips, and Social Security numbers are hidden before you see a document. You get the redacted copy.
Can I read the NDA before I sign it?
Yes. You read the NDA in full before you sign it.
Will I be emailed about new documents?
When new documents become visible to you, you get one email a day at most. You can turn it off for the room.
The seller first offered a Google Drive link. Is this room any different?
Yes. A Drive folder leaves the files in a general-purpose drive with its own sharing, sync and account controls: anyone with Drive access or a forwarded link can get around the “room”, and one compromised Google account or OAuth grant exposes everything. In this room every document is encrypted with AES-256-GCM under its own key, Social Security and account numbers are removed before you see a page, and every view and download goes on a hash-chained activity log. Here is the full data room vs Google Drive comparison.
Can the room analyze the business for me before I bid?
No. ClosingVault’s AI organizes, never opines: it files and finds the documents, and you bring the analysis. You can’t see what a data room’s own analysis rests on (the model, the assumptions, the period, the outcome it optimizes for), so trusting it means betting millions that the vendor got it right.
I sit on a couple of boards. Could I use ClosingVault as a board portal or a
fundraising data room?
No. ClosingVault is built only for lower-middle-market M&A: buying or selling a company, teaser to close. A fundraising data room or a board portal is not us; here is what a lower-middle-market data room covers.
I’d like my own room for the next deal I lead. How long does it take to set up?
About 3 minutes with the standard defaults, starting with a 30-day free trial and no credit card. The room is fully customizable for the deal; here is how buyers run their own room.
The deal I was invited into is a $42 million sale. Can a ClosingVault room handle
it?
Yes. ClosingVault is fully customizable for any lower-middle-market deal up to $50 million, with the same automatic redaction and activity log in every room.