East Cobb Homes for Sale | PreApprovals and PreQualifications | Jennifer Re Homes
What is a TBD underwritten approval, and why do I require a buyer to have one?
Hi, I’m Jennifer Re, with Jennifer Re Homes and Keller Williams.
A TBD or a to be determined approval is only awaiting a property for the buyers to be fully approved. They usually get this prior to finding a house which is why the TBD is for the property. This type of approval ensures that the underwriter has already seen the entire file and approved it. They’ve seen and approved things like the buyer’s income, the taxes, W2s, they’ve verified employment, and seen bank statements. By doing this, you take the risk out of a buyer falling out of escrow because they truly do not qualify for your home.
A desktop underwrite is the computer generated approval and it’s still very good, but typically the underwriter still has to look at some details.
A prequalification is not enough, and is typically only the information a buyer tells someone and their income and assets have not yet been approved. If you have any questions regarding any of this, please reach out to me, and if you enjoyed this video, please like and comment, and share it with someone you think it might help. Thanks for watching, and make it a great day.East Cobb Homes for Sale | PreApprovals and PreQualifications | Jennifer Re Homes