Wholesale Dilemma

[Jarrell Smith]

Hello BP,

I'm currently in a bit of an unusual situation.

I put a property under contract with intentions to reassign the contract, then started marketing it.  Within a few days a potential buyer contacted me and put down a $1,000 binder.  We both signed the assignment contract and then he was gone and unresponsive.  A few days have passed and the buyer has not returned any calls, texts, e-mail, etc.

What am I to do in a situation like this?  Do I have to let the original purchase contract expire before I can attempt anything with the property?