So..I know that everyone's been fighting hard to get B of A to allow us to substitute our back up Buyers without having to close and re-open and re-submit ALL the darned documents. It's here! We can now substitute if we have a back up buyer and our 1st position Buyer walks.
1. Let Negotiator know Buyer has walked.
2. B of A has 2 days to respond to us and ask us if we have a back up Buyer.
3. If so..the process can proceed without short sale initiation steps.
4. Short Sale status in Equator will chanage to "Marketing"
5. We will have 14 days to complete the tasks assigned.
BRILLIANT! I suspect Equator/short sale helpers will be confused for a couple months, but after that, I see some speeding up here..YIPPEE!!!
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I got that email today to! I am excited, to bad it wasn't available 1 week ago on an offer I fought them on, and had to resubmit again:(
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