Accepted cash buyer rental property - Tenant hold the rentpayment

[Yenlan Patton]

Hi, I hope i post this under right category buying and selling discussion.

We are private owner, currently own a rental home in dfw and occupied with a good tenant (suppose), she is a single parent and work as a hospice and she is been good paying tenant. Her contract lease renewal in August. I dont know if my writing can put this right explanation. but Hope find some people here can enlighten me and guide in right direction. 2 weeks a go we signed the agreement that came the mail from the company that cash buyer, please dont judge ..why because its a decent offer since the house needs a lot of cosmetic upgrade if selling with traditional market. also we dont want go to showing and all that. Now the issue ..the tenant claimed can't afford to move and she spoke to the company and told her they honor the lease till the lease expired and flip the house. We thought they are an investor rental business. Even so ..were they being appropriate talking with my tenant while doing the buying procedure and give my tenant anxiety. Also about earnest money, in the letter they will $500 for earnest money but they dont send to us, they said they give to lawyer. Would that be send after closing ? by their lawyer ? Currently my tenant hold the payment because she is looking a new place. Should i start send the demand letter and begin eviction or cancel the selling. We decide want to get out the real estate, anyone has similar situation ?