There have to be CLEAR DEFINED RULES though.
An 'I'll take it' is a commitment, but if the check doesn't come in 24 hours, people are gonna start posting on the 'welch list'.
Often times, I give an "I'll take it but can you give me a week to get teh funds together", and sellers are usually okay with this.
Two or three times I've had to ask sellers to be released from deals - I'm up front and always tell them they are under no obligation to release me. I have not been denied yet.
As usual, good communication and being honest and up front are key to the EE.
And I think that Welchers deserve -1's, of that there is no doubt. BUT there has to be something a little more than 'oh jeez I forgot about it' to merit a minus 1. We are human and DO forget. I think that the-case-that-shall-remain-unnamed could've been avoided if seller had emailed buyer earlier to ask for progress report or update...... I think that case is more one of bad communications than one of a welcher, which the defendant is CERTAINLY not.
ETA: a 3 times AND THEN you're on list seems fair, but with STRIIIIIICT detailed rules on what a Welch is.