Sale pending, how to construct rental lease?

[Shaoqing Xu]

Please help on how to construct a right lease for new tenant in below special situation:

I have a potential buyer of the condo, pending on his daughter admission into a local university. He won’t know the addmission result until end of Dec. If he don’t get admission, he will not purchase the condo unit. I’ll definitely go ahead for the sale if all goes smoothly.

In same time, I’m prepare to rent out the unit in case the sale fall apart, and have a good tenant ready to sign a lease now for Jan 20th move in. How to maybe put some right clause in lease, or right explanation to tenant so I can back out later Dec if needed without causing much trouble for tentant and I? 

Thanks.

[Julie Hartman]

@Shaoqing Xu If I am understanding you correctly, you want to sign a lease with a prospective tenant but want to add a clause to back out of it in case you end up selling the condo? If you sign a lease with a tenant, you are legally bound by that contract. I am not an attorney but typically a lease supersedes a sale; the buyer would be legally bound to honor the lease with the tenant. Maybe the tenant would be willing to be bought out but there is no guarantee of that.  You would be better off not signing a lease until you have an answer from the prospective buyer. You are setting yourself up for a legal mess. Perhaps an attorney will weigh in on this and give you a different answer.