I decided to amend my lease with the new tenants back to the original 4-1 date, and wrote an additional amendment on their lease specifically outlining that they have a verbal sublease with the prior tenant for the 8 days in March starting today, that we are ok with this verbal sublease and that we are not being paid for those days by the new tenant and any compensation they agreed to with the old tenant doesn't involve us nor does it change the lease agreement with the old tenants.

When we have a buyer we bring them to our office for the "Buyers Meeting" which is just outlining a simple Letter of Intention.  

So when some people are told things they can formulate it but others really need to see it outlined on paper to pick it up quicker.It's a communication and  expectancy thing.

Also, the promissory note will need to be drafted to list the IRA as the beneficiary, and the note terms will need to be clearly outlined.

I'll be writing a blog post at some point this month outlining my exact direct mail process and strategy that will hopefully give more detail on this topic!

You outlined a very straight forward approach so thank you.

We definitely have a lease that outlines our security deposit amount in whole. 

For everyone out there, I don't use the approach I outlined above anymore...

I even discuss our property renovation & addition plans with him to get an opinion for ROI from a market partisipant.In the long run, a good relationship with your personal RE agent will provide the benefits I've outlined above as well as access to the "good" deals that never make it to the MLS and connections into the RE inner circle (without the overhead of networking and schmoozing).I'm always looking for ways to maximize the expertise of my RE agent(s) and ways to reward and pay them without cash coming from my pocket.

Meet all of those demands and then go back to the city for approval, as outlined earlier.