The following is not legal advice:

If a sale transaction fails and yet the parties still wish to work together, a lease option may be a possible solution. In a previous transaction our office handled, it was advantageous for the option to be recorded at the county. When the buyers exercised their option to purchase, the lender considered it a refinance transaction and the equity in the property could be used as part of their down payment. You will need to consult the appropriate resources in drafting a legal and enforceable Lease Option Agreement along with contacting your loan officer who may be able to assist you once the option is exercised.