Yesterday, the original buyer decided to withdraw their offer because they were tired of waiting around. It was ok with me because I have 2 other buyers who are my clients that want to submit an offer on the property. I was curious whether it would be better to wait for BAC to respond to the original offer and have an "approved price" or withdraw the original offer and resubmit a new one. Well, according to a rep at BAC I just spoke with, I have to completely start the process over with a new offer! What?! She told me everything would have to be re-uploaded, (including the LOA and buyers financial info) and the new offer would take approximately 45 business days to get a response.
Has anyone else had a similar experience using Equator through BAC? And is the info she gave me correct?