What does this verbiage mean in regards to buying a home that is rent to own?

[A Hunch]

It means that they have 12 months to be able to finance the house in their own name. If they can't, the owner is free to sell it to someone else and it because a regular rental.

95% of rent to own properties never work out. It's a nightmare from both the buyer and seller side. Just some things to think about: if the seller can easily sell it they wouldn't bother with doing a rent to own, thus eliminating any liability of the property. And then the reverse, if the buyer can't buy it outright, why would you want him as a tenant.

Like in this case: The buyer can't buy it now. It's really unlikely he will qualify for a loan 12 months from now either.