Judy-
It’s just another escape clause to use when doing sandwich lease options. The reasoning used with the seller would be along the lines of “Mr.Seller I want to make sure we have the best tenant in our property and that takes time to complete the screening properly…”
http://www.creonline.com/wwwboard/index.html has a lot of lease option posts if you want to check it out. It sounds like the site you were on is Claude Diamond’s site if I remember correctly. I have heard he was a Bronchick mentor. Diamond has definately been around a long time with a big following.
I happend to be searching other guru’s web sites last night, and I read some stuff concerning lease option deals that I never even heard of before. The one thing that sent my eyebrows up when I read their material was this, "Make your lease purchase offer agreement with the seller “Subject to your finding a qualified resident to occupy the property within two or three weeks.” I read some other things on that web site that I thought were out of the ordinary. I think the site was named Mentor Financial, but I cannot remember for sure.
I’ve never heard of that clause before. Is this common in doing lease option deals? I have Bronchicks lease option course and that clause was never brought up. I would think it might send up red flags for the seller not to do the deal.