In addition, did your realtor specify in the terms of the contract that should the buyer not be able secure financing that the buyer forfeits the earnest money; in other words- the Seller keep it?
Also, did you get proof of funds if this is a cash buyer. All purchase contracts ask for a pre-approval letter; in your case, it's called "Proof of funds" this refers to a Cash Buyer being able to prove he has the money to purchase your home?
If the buyer and buyer agent is not responding in a timely manner (time is of essence) then the Listing Agent/Realtor/Broker should call the Selling Agents Broker/Buyer and address this ongoing issue.
You will have to weigh the pros and cons in regards to collecting the earnest money in lieu of wasted time and damages. Your agent should send over the mutual release regardless. Brokers cannot release earnest money unless both the buyer and seller agree; if they do not agree, the buyer or seller can opt in for the nearest board of realtorâ€™s arbitration. If this cannot be resolved then the board of realtors will advise both parties to the State of Ohio Real Estate division.
The best thing to do is what you did- relist your house ASAP. I wish you nothing but the best!
Are you the BUYER or the SELLER?
Why did ythe SELLER never got a POF?
Why has the SELLER never given a NOTICE TO PERFORM?
The Title Company is probably going to stick both principles with fees for the Escrow.