B of A just shortened the time frame of how long a seller has to submit a backup offer if the first buyer backs out. As of last fall B of A created a 14 day window to swap out buyers without starting the short sale process over. The 14 day window has been reduced to 8 days effective immediately.
I always recommend keeping a back up offer in place from the beginning. 8 days is a very short period of time to find a new buyer.
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