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Location: IN>Germany>ND>OH>TX>CA>Currently NoVa and a Vacation Lake House in PA
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Quote:
Originally Posted by welby1205
What I'm trying to figure out is how are we supposed to come up with the difference? It's not like we have 16k laying around.
Come up with it like anyone else. There's no magic formula here for you to get bailed out of this situation. You made the commitment, and you're on the hook for it. When the housing market crashed in '08 I had to bring $9k to closing to sell a house. It was a pain, but I did it. Coming on here and telling us how you already feel bad about it isn't doing you any good. What I would do is live there for a few more years, because the initial depreciation is the worst of it. Pay a little extra on your mortgage over these next few years, and then you may be able to break even on it. For now you're stuck unless you want to be sued. That's your option.
Come up with it like anyone else. There's no magic formula here for you to get bailed out of this situation. You made the commitment, and you're on the hook for it. When the housing market crashed in '08 I had to bring $9k to closing to sell a house. It was a pain, but I did it. Coming on here and telling us how you already feel bad about it isn't doing you any good. What I would do is live there for a few more years, because the initial depreciation is the worst of it. Pay a little extra on your mortgage over these next few years, and then you may be able to break even on it. For now you're stuck unless you want to be sued. That's your option.
I only said I felt bad when I was told I needed to research it, well it's a little late for that and that's not doing me any good now.
I also didn't think there was a magical solution. Was looking for people who have either been in the situation, or could give some advice. That is all.
welby,
Go out and buy yourself a piece of land you can put the home on.
Seriously, that is what I would do. It will be out a ways, but there are pretty
parcels within 45 minutes of where you live probably, where you can stick your home there,
have your yard, and when you are ready in the future, you can also build a stick house.
Call a realtor and ask about land sales where you can put a mobile on it.
I bet you are going to be surprised, then you buy the land.
Some lots already come with utilities hooked up for you.
You have nothing to loose at this point.
welby,
Go out and buy yourself a piece of land you can put the home on.
Seriously, that is what I would do. It will be out a ways, but there are pretty
parcels within 45 minutes of where you live probably, where you can stick your home there,
have your yard, and when you are ready in the future, you can also build a stick house.
Call a realtor and ask about land sales where you can put a mobile on it.
I bet you are going to be surprised, then you buy the land.
Some lots already come with utilities hooked up for you.
You have nothing to loose at this point.
Thank you, already tried that. Our mortgage company doesn't allow us to move it. So we would need to get a lender to take over that mortgage, and finance us to get the land ready. The 2 acres we were looking at already had utilities and septic. They just don't do these types of loans anymore. Believe me, it's the original thing we wanted to do when we bought it, figured we could just move it. We've hit brick walls everywhere we turn.
It's 3 years old, all drywall. We owe 51,000. We have already listed it, but throwing commission on there doesn't help. Telling me I should have researched isn't really helping me. I realize that now, already feel terrible, don't need to be made to feel worse. We don't have to put anything into it because it's so new. Yes, it being in a park sucks, but at least the community it is in is nice. Was just looking for some advice. Thanks.
What do you mean you owe $1000? You only owe $1000? Or the lot rent is $1K a month? if so then you are probably in a hot market area.
Just stay there for now, you should still have 7 good years where you can still sell it and the new buyer will be able to finance it. Try for sale by owner too. List it on Craigslist to try to get some interest. Put in all the benefits as to how many people can live there or if they can get roommates, etc. Seems like an all age park which is good. If home prices are high in your area it could be easier for you to sell.
What do you mean you owe $1000? You only owe $1000? Or the lot rent is $1K a month? if so then you are probably in a hot market area.
Just stay there for now, you should still have 7 good years where you can still sell it and the new buyer will be able to finance it. Try for sale by owner too. List it on Craigslist to try to get some interest. Put in all the benefits as to how many people can live there or if they can get roommates, etc. Seems like an all age park which is good. If home prices are high in your area it could be easier for you to sell.
I never said 1000, believe me if that were the number I typed I wouldn't have made this post.
It's 51,000 That's fifty one thousand.
Yeah, home prices around here are astronomical, and everyone wants this school district, doesn't seem to make a difference though in this situation.
I never said 1000, believe me if that were the number I typed I wouldn't have made this post.
It's 51,000 That's fifty one thousand.
Yeah, home prices around here are astronomical, and everyone wants this school district, doesn't seem to make a difference though in this situation.
okay, I thought the 5 was a $.
Use the positives to your advantage. Market it as a good school district and a cheaper option than buying a home and maybe you will get some interest. It might be attractive to a large family who wants a cheap place to live. You liked it so hustle and list it and try to find the type of buyer that you were. If you can break even it's a win.
how much is the lot rent and what state or area is it in if you don't mind saying.
Use the positives to your advantage. Market it as a good school district and a cheaper option than buying a home and maybe you will get some interest. It might be attractive to a large family who wants a cheap place to live. You liked it so hustle and list it and try to find the type of buyer that you were. If you can break even it's a win.
how much is the lot rent and what state or area is it in if you don't mind saying.
I'll do ya better and post the listing! We did just take it off the market, but it's still online.
We are actually thinking of borrowing against our 401k to make the difference, sucks, but it may be the answer. Not sure.
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