From Joe's postings, it seems the first buyer understood and isn't mad/upset.
First buyer may have been disappointed. Joe didn't come here asking what was everyone's opinion on his handling of the situation because this person was mad.
For those who are saying derogatory things about his "word". What about his words of saying that he would still be accepting offers until there was acceptance? Once the buyer heard that, he could have asked Joe for a 24 hour or more time frame to review the document. He did not. He is not mad at Joe about what happened because he understood that Joe would still be accepting offers until he accepted. He knows that he "rolled the dice" and lost out. He didn't expect to lose out. But he did and, according to Joe's posts, he accepted it.
No one knows if this person actually would have proceeded. Just because someone says they "will, want, can" or whatever, until it's done, it don't mean a thing. Anyone that rents or sells anything knows that people will change their minds and move on. Some don't even have the courtesy to notify you that they have changed their minds.
I've got a long list of people that didn't keep their "word" about purchasing or renting, didn't do what they assured me they would do, didn't let me know that they had changed their minds and moved on, signed an agreement that they didn't read or understand and then expected me to forego the terms to my detriment, etc., etc., etc. I will be happy to forward my list to you, so that you can let them know what pieces of work they are. It's a two-way street.
My opinions of the first buyer's understanding of Joe's actions are based on his postings in this thread. Naturally, no one knows what happened or what was said other than the two people involved.
I have found more often lately that buyers and renters believe contracts and agreements are solely for the purpose of protecting them. Some feel that even though they did not follow what was agreed to in the contract/agreement, that somehow the seller/owner should not enforce it. A lot more of that entitlement going around.