"waiting to draw loan docs"
does that mean they are already approved?

It means that the Loan Doc-uments that will be signed at the closing table or Escrow is about to be drafted. The lender will draft or draw the documents to be sent to Escrow for signing. After signing, there may be PTF [Prior To Funding] conditions that may need to be met before the deal is funded, recorded, and you get paid.

so it is not safe to say they are approved?

It would be safe just to say that it's in Escrow. In this business, it isn't a closed deal until you receive the check in your hand.

Food for Thought,

There are typically two stages of 'conditions'. The first is 'doc conditions', which you have to have satisfied first before you can 'draw docs' so they already have that done. The second and final stage of 'conditions' is 'funding conditions'. Now there are some lenders who do what they call 'table funding' which simply means that when docs are sent from the lender to the title/escrow company (whoever is handling the closing) that it will usually fund the same day as both parties sign. Most lenders do NOT 'table fund' - most lenders require the title/escrow company to send the docs back to the lender for 'final review' before they will release the funds to escrow. That usually happens within a day or two after signing. So to answer your original question, yes your Buyers are pre-approved certainly, but like somebody above noted don't count on it as being 'closed' until it's closed!! Believe me, there is alot of truth to that statement.