Situation: a buyer and seller signed a simple purchase agreement. After a couple weeks pass, the seller asks the title company if they've received anything and it turns out that the buyer neither turned in the purchase agreement nor turned in the earnest money deposit.
After repeatedly asking the buyer being told they'll turn those items in the next day, and repeatedly checking with the title company and finding this has not happened, what options does the seller have? Obviously the seller can't force the buyer to turn in the purchase agreement or the EMD. Can the seller find another buyer and, if so, what happens if the original buyer shows up with the purchase agreement?
I've googled around and haven't found much on this topic. Surely the purchase agreement has an expiration date at some point even though it's not specific in the contract itself.
In the P&S contracts that I'm familiar with there is a requirement for EM to be delivered within 24 hours of mutual agreement. So when a buyer doesn't meet this commitment they are sent a written notice they failed to meet that term of the contract and then I sell to someone else.
afaik without a promissory note or EM deposit, technically there is no contract as they have not given any "consideration".