Do You Give Approval Letters To Buyer Agents?

I've never given an approval letter to a Buyer Agent.  But, they always ask me for a copy.

I tell them that I will give a copy to the lender if it is a condition of financing, and of course a copy to the settlement agent.  But I can not freely distribute confidential financial information and debt settlement packages to those for whom it was not intended.

Most times, they give a little slack but are OK with it.  I recently got one BA who said it would be ludicrous for them to continue with the deal without seeing a copy.  So, I sent him a redacted one.

What do you do?

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Permalink Reply by Jeff Payne on October 25, 2013 at 5:52am

I give it to the title company and they inform the lender and the buyer agent that the condition of title has been cleared, afterall, that is what they need to close anyway

Permalink Reply by Evelyn Santiago on October 28, 2013 at 3:44am

The seller's attorney sends it to the buyer's attorney and the buyer's lender.  The buyer's agent does not need to see it for any reason.  If their commission was affected in any way I alway inform them once I know but other than that they only need to know its approved and that both the lender and buyer's attorney will have the necessary information to continue the transaction.

Permalink Reply by SMS-Short Sale Expert on October 28, 2013 at 7:02am

Through the process, I do not update the BA or give them any information. Once an approval comes in, if they ask or it, I do give them the approval letter. Of course, I work for the listing agent, so if they do not want me to, I do not. 

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