Live/Work Purchase Question

[Michael Kesselring]

Hello, 

This is my first time dealing with a situation like this. My wife and I are looking to purchase a live/work town home to move her business to and to live. We have found one that we really like and that would be great for her business. The living section is vacant and the business level has a tenant whose lease expires in September 2017, but also has a tenant option to renew for another year. The property has been on the market for about 5 months now and is priced too high, but the listing agent has said that their client would be open to lower offers. 

Ideally, we would like to move her business in right away, but we can wait until September if we had to. The problem is the tenant option to renew. I have told the listing agent that we are interested and will make an offer if the tenant will not renew. The tenant has expressed interest in renewing the lease, but has also been open to the idea of moving and has looked at a few rental properties with the listing agent. 

My question is should I just wait to make an offer once the tenant finds a new place, or should I go ahead and put an offer in with an addendum stating that the tenant will not renew the lease? I think making the offer would show our seriousness, but at the same time I don't want to be tied up if another one comes on the market during the contingency period.