"IMO, if you are going to use an agent for this sale, by all means, get
one that has your best interests in mind and do not use the agent that
has the sellers best interest in mind. A good buyers agent will be the
expert on the particulars of this sale."

I think this is good advice, but I would add a proviso that the OP should be mindful of. Every real estate agent I've dealt with has had their own best interest in the Number One position. My experience is limited, I'm living in my fourth house, but this isn't a business where ethics run on the high side. Just keep that in mind, their focus is to close deals and many will do whatever is necessary to do that. They can act with no regard to what they would do for themselves, and with no real concern what may be the consequence to the buyer/seller (so long as there's no legal exposure for themselves).

I think a good word for guidance is that people should be skeptical concerning whatever is said or done, then you'll be okay.

Have her get a good buyers agent that will help her.

I've "known" Jakabedy on the forums for a while, and she seems to be a savy and bright person, capable of watching out for her mother's best interest ... it you want to have a chance to get that "lowball" offer accepted, then it might make sense to have the selling agent do the deal and get the whole commission. We've done this before and have a lawyer review the documents to make sure we are protected.

chispa, why not get a buyer's agent? What benefit is there in using the seller's agent? So the seller's agent gets the whole commission, is s/he expected to share it with OP? I'm confused.

That makes no sense at all. Using the listing agent vs. a buyers agent does not change the bottom line net dollar amount that the seller receives.

In addition to selecting a buyer's agent to represent you, I would add an appraisal contingency.

From a seller's perspective, we had two separate experiences this year with houses in different states. The first was a house sold as a pocket listing off market where the commission was 5%. If our realtor brought the buyer she would only charge 4%. Ultimately, she handled both sides of the transaction. The other house was listed on the MLS at 6% commission. Our realtor brought a buyer that wasn't working with an agent. She said the buyer preferred it this way. They submitted a low ball offer in our opinion. While presenting the offer she offered to reduce her commission to 5%. The deal didn't go through since we couldn't come to terms on the price. Working with the listing agent may help bridge the gap if they're willing to lower their commission.

....keeping in mind that the commission is a contractual agreement between the listing agent and the seller, so asking to reduce the commission is generally taken as a offensive request (akin to a low-ball offer). If the agent offers, well that's a different story.

I don't know that you need to divide this pie further by bringing in a buyer's agent. You sound capable of determining what you want to pay. You could hire an appraiser for a few hundred dollars; you probably don't need a written appraisal. You'll hire a RE attorney to handle that end, right?

Are RE tax appraisals of any use in this instance? In some areas they can provide clues. Is Zillow's valuation of any use? (Often more useful in condo situations.)

Now...is buying more logical for your mother than continuing to rent?

We decided to go ahead and work with a buyer's agent. I've never purchased a condo (just single-family homes), so I'm wanting some local help with the due diligence on the finances, the structural issues, etc. Also, if it turns out this purchase would be a bad idea for my mom, we've got someone outside the family telling her it's a bad idea -- it will give me some cover as I'm the designee in charge of all bad news in my family of eternal optimists. He can also suggest other options that won't be second guessed like they might be if I suggest them.

Can you and your mom create a list of 'pros' and 'cons' for continuing to rent and for buying -- one that considers her particular situation? Does she have a financial adviser to help you keep this real?

I think there are some online quizzes that help people decide about buying. How long might she expect to stay in the condo before needing assistance? Is there space in the unit for help to live in? How will she finance the purchase? Will the purchase affect her income? What are the moving costs? Is the market moving up or down in general -- and for this complex? Is this the best use of her funds? What other options are there?

Can you get any information from the owner of the unit your mom is renting or from other owners in residence? Are they happy with the Board and management? (We've owned a vacation rental condo for 14 years. It's been our only involvement with 'communal' ownership. It's been 'interesting'!)

Chisue,

Thanks for the questions. Any sort of introspection is good. Believe me we've been through all of that analysis. Multiple times. But some folks are either resistant to it, or aren't built to really respect the outcome of such an exercise. In fact, three weeks ago the plan was for her to stay put in her rental until I find out if I'm getting a new job.

. . .

But back to the unit, it does have a second bed/bath. The market will go up absent another national crash. And even if no sales market, the rental market is tight here and it can be rented out. Moving costs are minimal. She'll put about half down and finance the rest. Her payment plus the condo fee will be at or less than her current rent, so it won't affect cash flow. Needing assistance is a moving target, because it's hard to identify what percentage of her impediments are truly physical rather than emotional/psychological. I.e., if your anxiety is keeping you from going out to lunch, it's easier to say you're not feeling well, worn out from shopping, etc.

Even at 60 miles away, we wouldn't be far. And I think I'm getting worn down from the constant discussion of when, where, how much. I'd like it to be finalized so moving forward I can concentrate on DH and myself.

How was that for a response(!).

What does your agent say about the asking price and the comps?

He says the asking is way above the comps. He's recommending going in at somewhere between 175-183K.

I thought of you while reading an article about the Feds loosening mortgage requirements for condo mortgages. One of the prior no-no's was if a high percentage of the units were being rented out. (Absentee owners aren't as attentive to maintenance, and transients aren't involved either -- can't vote anyway.)