When is it time to reject?

Last week about this time we negotiated an offer on one of our listings.

We delivered it back to the agent and were told that she was in a seminar and would get the earnest money and option check to us as soon as she could.  

On Thursday we dropped by her office to see if we could pick up the checks.  She met us in the lobby and said that she did not have them because the buyer had not delivered them yet and she would let them know again that they needed to get them to her.  She also said that she did not have a relationship with these folks.  She had just met them at an open house.

Alarm bells?  Uh-huh!! We thought so.  We called the sellers who said, "maybe they will still bring the checks."  Nice!  But hardly practical.

If the prospective buyer cannot deliver an option check in a timely manner, what does that say about getting loan requirements done?  

It used to be a requirement that those checks were delivered at the time the offer to purchase was written.  Did the rules change?

This morning Ralph emailed the agent to tell her that the seller was withdrawing their acceptance of the offer and the house was back actively on the market.  AND, if this buyer came back that the earnest money and option check would need to accompany the offer.

We have not heard anything.  Wonder why!