Comment

Comment by Jeff Payne on March 14, 2012 at 5:08am

Sofy, understand what you are saying but you have to remember that BofA does not own the home, the seller does.  It really is not any different than a regular sale, the seller and buyer agree to a contract.  Your contract is a back up and not in first position and you are really just in a holding pattern.

The reason I asked where your agent is, is because alot of your questions are very basic questions that your agent should be able to answer.  Does your agent have the first buyer too?

Comment by Smitty on March 13, 2012 at 12:50pm

Sofy, the first buyer can up their offer if the seller allows it.  So their offer may not be necessarily renewed but the seller may allow a buyer to increase their offer price.  That means you are still in second position.

Comment by sofy bark on March 13, 2012 at 10:51am

SORRY SAME AS THE SELLER NOT BUYER..

Comment by sofy bark on March 13, 2012 at 10:51am

@ JEFF PAYNE MY AGENT IS THE SAME AS THE BUYER...HE REPRESENT THE SELLER TOO..I GOT THE STORY THAT THE ONE WHO HAS THE CONTRACT IS A PRIORITY ACCORDING TO BANK OF AMERICA EQUATOR WEB SITE HERE IS THE 3 STEPS FOR A DECLINE:

When a Backup Offer May Be Needed

The short sale process can be lengthy and complex. Unforeseen changes may occur during this process that would prompt you to submit a backup offer to replace the original short sale offer on the property.

This could occur if:

• The original buyer walked out during the process, but you have a backup offer ready to submit from a different buyer.

• There is a change in the buyer’s name during the process. • The original offer was declined for being insufficient, and you have a

backup offer that can be submitted.

This guide outline how to submit a backup offer under any of these circumstances.

Comment by Jeff Payne on March 13, 2012 at 10:41am

Sofy, Bank of America does not accept your offer, the contract is between you and the seller and your contract is a back up offer and will sit until the first offer is dead.  Just because the first one was declined does not mean that your offer moves in front of the first offer. It means that the seller and the buyer most likely renegotiated the terms of the contract.  The buyer and seller can certainly renew their contract because it is between the buyer and seller.  I know it is frustrating.... your agent should easily be able to answer these questions for you, where is your agent?  

Comment by sofy bark on March 13, 2012 at 8:50am

 INEED TO ASK THEM WHY THEY DO NOT ACCEPT MY BACK UP OFFER IF THE FIRST ONE WAS DECLINED...I HEARD THEY (BUYER) RENEWED THEIR CONTRACT

Comment by Bryant Tutas on March 10, 2012 at 1:00pm

Send them a message on twitter at @BofA_HelP

They should be able to help.

What do you need clarified?