@Samantha Miller all you have to do is have a "roommate" or Tenant find out about this (google you or see this post on BP) and you'll forfeit any rent you've received.How do I know this?

The 10% ofbid may be forfeited if buyer fails to timely close.

I was thinking of having them sign a document which states they will forfeit the security deposit should they fail to meet the terms of the lease agreement on 4/1.

One buyer fell through and forfeited security deposit.

One buyer fell through and forfeited security deposit.

If it is written in your lease, all of their deposit can be forfeit for not returning the home in the same or better condition as they found it, minus regular wear and usage.

A call on loan is when a bank sees that you made a transfer of ownership from your personal name to an LLC and have the right to request immediate payment (30 days I think) to pay the mortgage off in full or forfeit the property.

I could definitely give 27 days’ notice (actually from yesterday, 28) and assuming EVERYTHING in the house is in acceptable shape, forfeit my $2,500 deposit to you.

They do not forfeit their Security Deposit automatically, and it will be refunded less damages and cleaning beyond normal wear and tear.People going to jail are easy to get served papers; if he fails to comply, then I would evict as normal. 

If you close the sale and touch the money or the QI is not in place then you forfeit the opportunity to do a 1031.