Expert: Jessica Bryan - 3/5/2010

Question
OK Jessica, my husband and I bought a doublewide in 2002 against better judgement, but we were desperate, in love, and VERY naive about real estate, realtors, and the whole process of purchasing a home. We were snow balled into buying this 1995 Fleetwod for $40,000. It is on a lot in a trailer park just north of Charlottesville, VA. We moved to TX in 2008 and we are renting there. We would love nothing more than to sell the house in VA, but who wants to Pay $40,000 for a double wide in a park? This is our dilemma. We only want to sell it for what we owe. NO PROFIT IS NECESSARY. We just want out from under it. The mortgage is $380 and the lot rent is $340. The park is a great park, quiet and pretty and the lot is close to the entrance and the house itself is in better condition, now than it was when we bought it. Please advise me on how best to get rid of our beautiful bad decision :) thank you so much for your time

Answer
Dear Tiffany;
Not knowing anything about prices in that area one thing I can say is that as long as you make the price affordable and below others, it will be attractive to a buyer.  Perhaps you should consult the agent who sold you the home to begin with since he or she obviously thought that it was a good decision for you at that time and may be able to talk someone else into it for all of the same reasons. Does the park have a sales office?  If not, try selling on Craig's list or another listing service.  You said, "Who wants to pay $40,000 for a double wide in a park?"  Well...you did!  Think of the reasons you wanted that and then focus on those reasons in your advertisement and sales brochure.  Post this online, in the paper and/or on any other selling service.  Perhaps you might also consider some of the auction services for minimum fees.

Best wishes,
Jessica Bryan