Buyer EMD Made but Not Within Timeframe

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I am selling a vacant lot using the standard Florida VAC-14 contract. The buyer made the escrow deposit but was made several days after the 3-day timeframe specified (6 business days/8 calendar days). As the seller, I am considering cancelling the contract for buyer default but am not seeking to retain the deposit. I only want to know if this situation is a legal course of action (cancelling the contract) from the seller's position. My only real concern is wanting to work with a buyer that is timely and being able to complete the sale. Thank you.