AND you must maintain adequate reserves to take care of the disasters that may happen.

Can you confirm they have a thorough understanding of contracts, surveys, title issues, deeds, contract administration, etc.

The interior is going to be renovated in the upper ans basement will habe two rooms and a washroom (id be adding the kitchen) We have spoken to realtors in the london area and 3 have confirmed the home will likely sell for 600k as some homes on the same street sold in the past month.

I have listed it on airbnb and already have reservations.

Hire your own surveyor to confirm what the new "neighboring land" survey shows.

Getting it filed in April is one thing, but October is generally reserved for late filers, people with missing K-1's etc. 

BP has great resources for calculating your DP, reserves, operating expenses etc.

Basically I am charging them 2 weeks rent in return for allowing them to break lease early.I've also contacted their real estate agent and mortgage lender to confirm that they are on track to close 11/5.Why?

@Sean McGrady: no one can give you a number, because we don't know anything else besides 3.5% down and you have 5k.  3.5% of a 200k purchase price is $7k, plus several thousand in closing costs, plus some level of reserve capital just to make sure you can fix the furnace when it breaks.  

We decided to sellBecause we moved across the country and having the extra cash helped to start more projects get our new personal home and have some reserves.