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Well congrats on the purchase :) I woulda tried to drive a harder bargain - you were giving them favourable terms, hence a discount is appropriate, even with a 12 month settlement ;) Worst case 6% CG? That's pretty optimistic for a worst case scenario...hopefully you do get good CG though as...

WHy would you offer so much more for a 12 month settlement??

Do you mean asking price is 480-515k and you will pay a max of 450k?? If the rent is only $430/wk, their upper range may be a bit out, what area is this in? Also, what reason have they given for renting back? Knowing this can assist in any negotiations...