Hi, First, don't panic. Second, lawyer up. This just means at least talking it over with a lawyer. That lawyer will probably advise you to wait until he makes

Hi, First, don't panic. Second, lawyer up. This just means at least talking it over with a lawyer. That lawyer will probably advise you to wait until he makes a move. You need to lawyer up because even without a contract, certain states have case law that might be applicable. For example, there has been case law in my state where two people that talked about buying real estate, without a contract, eventually ran into a sticky situation like yours. Again, don't panic, it will probably be fine.