That’s going to depend upon the terms of your purchase agreement; if
it was written by a realtor, there is language in there specifying what
happens to the earnest money if the buyer cannot get financing within
an agreed-upon period of time. If your new lender can close before
the purchase agreement expires, the seller will have to wait. If you
have a written loan approval from a new lender but are running out of
time, you would ask the seller for an extension of the closing date.
Unless the seller has backup offers, you would point out to them that
they will close much sooner by giving you an extension, than if they
wait for a new buyer to come along and start the process all over, with
a chance the next buyer may not be able to close.
Curious, is this an actual deal, or a hypothetical situation?
If the deal fell through due to financing with one company and you found a different company to finance the loan, but the seller do not want to wait for the paper work to complete and decide to put the property back on the market is the buyer reimburse for the earnest money.