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How many days before the end of the fixed term lease I am obligated to inform the landlord whether to renew the lease or not

I have a Fixed Term Lease ending on august 31st 2011. My landlord wants me to sign the new lease now (first week of May).
I asked him if I could answer him in three weeks and he says no.
I am making an offer to another condo in order to buy it. If it fails than I will renew my lease.
Is it true that in MA a tenant has sixty days to decide prior the leases end date?
What is the legal timeframe to renew or not to renew the existing lease?
Thanks already.

Notice to renew lease

Unless there is some right of renewal contained in the lease, the landlord is under no obligation to renew your lease.  Further you have no legal 'right' to notify the landlord of your intention to renew the lease, now or within 60 days of the expiration date.  Follow this link to a post dealing with lease renewal in MA.

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