not entirely correct though.. a pre-approved loan can be source before shopping for a property. the pre-approval has contingencies and act on the principle that if all the conditions are fulfill, a proper credit/loan can be approved without much hassle later on..

it's just a small assurance for the buyer to know how much/far a credit facility can he/get get prior to closing a deal where the buyer may risk loosing his/her earnest money/deposit should he/she failed to secure a loan later on within the given time frame.. it's a shrew procedure, not mandatory.

i personally had a few pre-approved loans back then from a few banks to assess my credit ability before i had an spa.. recently a buyer purchased a property from me and he got a pre-approved loan from maybank before sealing spa with me. the pre-approved then converts to a full loan documentation.. it just ease the transition, that's all.

just let him have the keys. if the buyer sign s&p,  and already sign bank loan,
some people want to do renovation before move in.

its better not to, to be on the safe side, some worst case scenario has been given above. ask the buyer to chase the lawyer and the bank if they want the loan process to be quicker

ohh dun hand him the keys...even after signing the S&P, buyer can backout. U gib him the keys, after he duwan to leave your house, worse if he trash your house and change all the locks...u will waste more money n time trying to get him out...anyway, just ignore his calls.