You can assign an amount per day $300, $1,000, you could even put in if they stay even one day over they forfeit the remainder of the money.

My two cents: based on my experience it will take the county 3 years of back taxes being unpaid before the county tax forfeits the property.

My lease says that they forfeit their deposit if they move out early.

They want to forfeit the security deposit for the February rent and leave the property not having to pay for the remainder of the months. 

Although earnest money hardly ever gets forfeited based on various loopholes in the standard sales contract here in Illinois the earnest money has become a differentiate in going up against other offers.   

I even have a clause in my house rules stating that if The Authorities are called, the guest forfeits their entire deposit.

Do I think I'll be able to get the property under contract without forfeiting my EM? 

They are requesting that I forfeit the 1.5' X 37.5' piece of land bordering the alley and give it to the city in order to extend the alley by 1.5'.

But it sounds like $500 plus the security deposit, however much that is, that would be forfeited. 

Our question is, what are some of our options to begin financing this without having to forfeit a large amount of our saving up-front?