Drop him a note or call him and request an earnest money check and proff of funds, or all of this is for exercise.

I also own a building 300 feet away and have been looking at every single listing there for 3 years so I am familiar with the market.It is tax assessed at 400kWe put in two offers 100k cash and 280k with a conventional 75% LTV and they came back to all of us and so no entry even for appraisers so we had to drop the financed offer.

You'll need to specify this temperature and stipulation in the lease contract so that tenants are not surprised that they are unable to set the thermostat to 90 degrees in the winter for their personal comfort at your cost.

@Sheryl Gurvey, just dropped you a message.

When the price gets REALLY high, like 10s of millions, the commission percentage drops, but $1,000,000 is right in the middle of this market.You can try to negotiate with your listing agent for a lower commission but I would strongly suggest that you not do so in a way that causes the buyer's agent to receive a below market commission.

If, at some point, you feel that you don't need the license, drop it.

In a slow market you usually end up dropping your price.With a lease/option you have the buyer over a barrel, though.

We were not waiting for the price drops but they happened right when we were ready and than there were multiples.

I also tend to rent them out a little higher because I have time to drop it if needed.

At best you'd break even, but if you have to drop the price AT ALL to sell you'll be losing money.Modest cosmetic upgrades will help a lot.