If you leave the property by the lease expiration date AND leave the property clean and in as good condition as you found it I will not charge rent for Jan. and I will return the security deposit in full" I made the offer contingent on them responding to my message. 

I am closing on a single family home cash purchase on the 16th of July, I borrowed the cash from my father in law and he asked to get a promissory note added at closing.The title company (chosen by the seller) will not add the promissory note at closing, the seller will not change the title company.I have spoken to a local title company asking if they can create a deed of trust after I have closed on the property and they told me no it's not possible.Any suggestions of how this can be done I am in Michigan, my father in law is just wanting some kind of security for the loan.

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

I know a purchase agreement is needed that secures me the right to purchase the property and reserves me the right to assign the contract but is that it?

I'd also ask for a higher security deposit, but otherwise would probably consider renting to them.

Security deposit needs to be returned minus deductions.

Tons of practical advice from marketing, screening, dealing with lease violations, evictions, inspections, security deposits, and more.

I would send his security deposit to last known address via certified mail.

I plan to get an additional checking account for the property, with a sub account for security deposits.

We are doing this to have 3 years to secure financing (long story).