It is simply Subject To or Sub 2 as some put it.

They were simply selling and using all of their techniques. 

I simply have no experience here.Has anyone had a similar experience who can advise on how you handled it?

Can I simply draft up something that states "this terminates the lease I signed on such and such a date."

@Lance Marshallsince you have IRA LLC I'm assuming you wish to invest in alternative assets, otherwise you could simply open Fidelity IRA to invest in stocks/funds.

I assume you had a financing contingency and if that is still in play simply cancel your contract under the financing contingency.

Simply calling to ask them to be on your list is a quick way to being shooed off phone. 

I would simply call around and find a bank/broker that has experience with delayed financing. 

IF they don't, they force you to make conservative assumptions (e.g. expenses, capex, vacancy, etc.) and you end up putting in a lower offer.Another tactic / strategy is to simply give him his price (with the proper out clauses), get the information and then re-negotiate the price.

Make it clear if they attempt to break the lease before you find a new tenant you will take them to court for full compensation.