Agents - how long do you wait for earnest money for you consider deal dead?

[Kristine Eickman]

We put an offer in on a house last Saturday morning. We got a call that afternoon from our realtor that the seller signed and accepted another offer the night before but that they would keep our offer as a back-up. Ever since then, the house is still on the MLS and listed as with contract - waiting for earnest money. This would be the 4th business day since they signed the offer and the buyer still has not given them their earnest money?

We are ready to go and would have written a check for the earnest money right away after acceptace of our offer and we have financing all lined up already to go. We even sent them a pre-qual letter from our bank with our offer.

So as an agent, how long would you let this go before you would contact the back-up and start with them? We would really like to get this house but it kills me to keep seeing it just sitting there!