Anyone familiar with real estate law ?

Your state should have a real estate commission.

They have guidelines for what happens and when in all phases of transactions and potential transactions.

In FL, IIRC the earnest money is to be returned "in an acceptable timeframe".
Of course that's vague. I'm not sure if there's a :not to exceed...".

I had an issue a long time ago, and I wrote to FREC. I believe their guidance was 30 days.