Rejecting an application after verbal acceptance.

[Jacob Deacon]

My wife and I have been working toward getting into rentals and tenant placing and was given an opportunity to rent somebody's place out for them. We have a had a hard time due to the property's location in getting a prospective tenant and have finally got one lined up. Right before filling out lease, just after I have given a verbal confirmation on our decision to continue, the owner has informed me that they are going to sell the property. How do I legally protect myself in informing the potential tenant that the property is no longer available. All the screening for background and credit check were completed through Cozy and I have not accepted any money.