Have Finance Questions? Ask a Financial Expert Online.
Until a loan is secured, the contract is not finalized. Right now the deal is 'subject to' approval. Therefore it is really wise for your daughter to contact them and formally (meaning in writing) get a date by which time the loan would either be approved or denied so that the contract could either be finalized or rescinded. There is no law requiring a deadline, but your daughter can create such a condition under contract by getting such terms in writing, which would then be enforceable against the dealership.
Hope that helps.