Finding a tenant while closing on new home

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I am a new landlord looking for some guidance. I am moving out of a condo and currently have a new home in attorney review. I listed my condo for rent and already have about five people interested. I would like to find a tenant with the understanding that completion of lease paperwork would be contingent on completion of purchase of my new home. Is it too early to start looking? Anticipated closing is January 10. Are there legal pitfalls in looking for a tenant too early should we have to cancel our home purchase?