Hedge funder Scott Bommer, of SAB Capital, is in contract to sell three Lily Pond Lane properties in the Hamptons for $110 million in an off-market deal, The Post has learned.
A pre approval is based on the documentation the borrower supplies at the time of application, and any actual eligibility to receive the pre approved loan depends on the terms and conditions of the pre approval and ability to secure the loan before the pre approval expires.
Â· just now. Report Abuse. A pre approved for a car loan means your loan has been approved for a certain amount according to your credit report and that you can get a purchase receipt from the car dealer and produce it to the bank which pre approved your loan. Then the bank will release the check in your favor.