Hopefully, it's something simple... maybe the sellers are dragging out the timeline while they try to buy a new home.
We are not allowed to provide legal advise, however based on what you have indicated here, there is no real contract in place if the documents have not been properly received by both parties and/or their realtors. Only when all the terms and price have been agreed to by both parties and the documentation is received is there a valid contract. You may wish to err on the side of caution if you are the seller and consult with a real estate attorney. So long as there is not a fully and properly executed contract the seller of a property is free to review, consider and enter into a contract with another buyer. Good luck with this matter. If you have any additional questions, please feel free to contact me.
RE/MAX Advance Realty