At what point do I give up trying to sell?

[mama2landon]

I've been trying to sell my mobile home for 1 1/2 years now. I had to move in with my parents because I can't afford to pay the utility bills I incur when I live there, so for over a year I've been paying lot rent on this place that I don't even live in. (Also daycare expenses, which are free right now since mom watches DS) I tried selling on my own for a while and had a couple bites that didn't pan out, I've signed a contract with the mobile home park manager for her to sell it. She's been trying about six months now, but still nothing.

I really need to get out of my parent's place, the atmosphere there is so poisonous I just hate staying there and especially raising DS there, but I can't afford to get out on my own with this monthly payment hanging over my head. Should I just give up trying to sell and just let the office take possession of the trailer?

I already have really lousy credit from all the crap my ex stuck me with when I kicked him out, so I'm not especially concerned about my credit rating anymore. Probably not the kind of thing you all want to hear in this forum, but I'm really at a lose for what to do with myself anymore. Ideally I'd like to take a few years off WWOOFing with DS while I finish my degree online and then start over in a career field that pays better.

I don't see Michigan's economy (or the US really) getting any better, and I can't imagine selling that place in the forseeable future. Am I giving up too early or should I keep trying? It really feels like the only thing holding me back from making some desperately needed changes in my life, but I'm posting here because I feel like I could benefit from some outside perspective. Any help is appreciated.

[1growingsprout]

What are your plans for leaving your parents? Do you have a place to go? As you know with out decent credit it will be difficult at best to find a rental.

Have to spoken to a relator about listing the property? Is there a loan on the property or just the lot fee?

Are you currently employed?

[Think of Winter]

Is there anything you can do to reduce the utility bills and live in the trailer? If you own it, I can't see how paying rent would be cheaper than utility bills, but I don't know how it works with site rental. Could it be moved to a less expensive place? Are you thinking that if you sold the trailer, you'd have some capital to get started on your own? If you own the trailer, I would think that living there would be your best bet. If you don't own it, what will you do? Default on the loan?

[annethcz]

Can you lower the price you're asking for it? Even it you get less than you'd like, it's better than just walking away and getting NOTHING.

[baileyandmikey]

What about drasticaly cutting the asking price on the home?

[just_lily]

I understand. I unwittingly have a rental property because I couldn't sell my home when I moved without lowering the price so much that I would have had to pay about $50k just to pay off the mortgage and realty fees. I had it listed for six months before I gave up.

Is it possible to rent it out? My renters don't quite cover the mortgage payment and I still have to pay property tax and my insurance, but they pay their own utilities. It is the best solution for us until the market comes back and I can sell it without taking a hit.

Or is it large enough that you could move back in and take in a roommate?

Hugs to you. It sounds like you are in a pretty rough spot.

[Fuamami]

Can you rent it for the lot rent? Even if you're not making money, at least you wouldn't be losing it and wouldn't have to worry about it for awhile. Or maybe you could find someone who would be interested in a lease to own option?

[SleeplessMommy]

What is the lot rent?
What is the trailer asking price?
Do you owe money on the trailer?
Can you take in a roommate?

[lil_earthmomma]

There may be things you could do to dramatically lower your utillities at the trailer.

Because it's a small space, you may be able to heat it with a space heater or two. Less lights on, candles etc. Other ladies on here really know how to cut the bills down.

Maybe that is a better way to go? You have a place, you are paying for the place, maybe cutting expenditures is a better idea than trying (in vain) to sell.

[lightheart]

Is it big enough you could get someone to room there to help with the utilities and lot?

What about renting it out while you WOOF?

[mama2landon]

Thank you for all the replies! I'm not very good with the multiple-quote thing, so I'll just try and answer all the questions at once.

I do own the trailer outright, it is currently at a trailer park in the city where I work- the only other park in that city is similar price for lot rent, and I don't have money to move it anyway. Due to park rule, I can't rent it. While I can technically have a roommate, I can't/won't go this route due to some bad things that have happened to me before that I don't want to go into on a public board- its just non-negotiable, sorry.

I was willing to look into a land-contract (lease to own) type thing, but currently can't go that route because I have signed a contract with the realtor(?) in the park office for her to sell it and she is not allowed to do land contracts. We were starting at $7500, but I told her very bluntly that I *really* need to sell and that she is authorized to go as low as need be. When I originally bought the trailer, she gave me the asking price, then immediately told me that she knew for "a fact" that the couple were willing to go a lot lower, so I have no doubt that when she knows someone is desperate to sell, she will let it be known right away. I wonder though if lowering the initial asking price would work better.

Honestly, I don't want to move back in to this place. I want out of my parents home, and I want to sell so I can go on to the next chapter of my life. I am very serious about chucking everything and WWOOFing with DS for a while, then living on the road for a while after that. I have a vision for where I want to be in five years, and ten years, and plan for how to get there.

What is holding me back is this one last major expense. What I'm trying to figure out is- am I being too impatient? Getting this sold with a little money leftover would be a major help too me, but just getting it sold free & clear even if I get nothing back- just to avoid one more major blow to my credit would make me feel better. But, I also wonder about the state of the economy, and the nearly dead Michigan economy. I can't help but wonder if its hopeless trying to sell a home- even a cheap one- in this state now. Everybody's leaving- I want to, too. Part of me says, "give up, cut your losses and run" but another part says "Even one or two thousand dollars could go a long way to help you maintain that dream the next three years". Does that make any sense? I'm just trying to see a bigger picture here, trying to figure out what makes the most sense.

[annethcz]

Lower the asking price, since you have the ability to do so. A lower asking price will bring more people in than a higher asking price that you're willing to negotiate down.

[SleeplessMommy]

What is your lot rent?

And have you posted it for sale on craigslist?

[D_McG]

What does WWOOFing mean?

[mightymoo]

Since you are sharing, what is the land rent? If the lot rent is $500/mo or more, I think you are really getting into a situation where you will be paying more per year to rent the land than you could get to sell it and you've already sat on it 6 months. How fast are other trailers selling or are they? That would help. Is there anything you can do (paint, for example) to spruce it up?

I don't know the contract you signed with the front office, but generally real estate contracts can be canceled. You may have to give notice usually, but it can be done. They also have expiration dates usually. So if you think lease to own would be more viable, you can have options.

I would lower the asking price, and spend a good month advertising it as much as possible on craigslist, anywhere else. Based on the lot rent, I would pick a time limit it has to sell by and if it doesn't, I would give to the park.

We went through something with my uncle's trailer when he died. Trailers here go for $35-70K (depending on how new & condition) at least at the time they did and the lot rent was $550+ a month - but we couldn't sell his trailer for $5K (it was really horrible). We ended up giving it to the park in lieu of back rent after 3 months because it wasn't worth paying it anymore. They just scrapped it and put a new one there to sell I think.

[mama2landon]

Lot rent is $350/mo plus the water bill- only a $5 charge for me since I'm not living there and obviously not using the water. I have been trying to sell it for 1 1/2 years, not 6 mos. So I've already paid more rent for it since moving out than what I will actually get back from selling it.

I signed a 3-mo agreement with the office to have them sell it, and just renewed it last month because I was having no better luck on my own. I tried on my own for about a year. I advertised on Craigslist as well as the online classifieds at the tv station where I work (employees used to get it free, that has since been cancelled).

I saw a thread on here the other day that was describing the horrible housing market in Michigan, houses (not trailers) selling for a $1.00 and so forth, I'm just not feeling especially optimistic that I can sell a trailer in this climate.

D_McG: WWOOFing is World-Wide Opportunities on Organic Farms. Basically people volunteer to work on organic farms across the US and the world for room and board. http://www.wwoofusa.org/what.html

[carabee]

I couldn't tell if you owed anything on the trailer, but if not, why not post an ad saying it's free to anyone that can come pick it up?

[Cheshire]

why not post an ad saying it's free to anyone that can come pick it up?

I like this idea but start with an ad that says it is worth $7,500 and you'd take $5,000 obo. I'd try to at least lower the price before giving it away. You could try it for a couple of months.

Also, are there any colleges in your area? Have you tried posting an ad in the school paper? My girlfriend's husband bought a trailer for $1,000 when he was in school and then when he graduated he sold it to another college student for $1,000.

And, last but not least, call around to the trailer dealers in your area and see if they would be interested in it? A friend of mine sold his grandmother's trailer for $1,000 and they came and moved it. It was in pretty awful shape but they made a little money on it and the buyer refurbished it and then resold it.

Best wishes. I like your plans - organic farming sounds like such a blast! And what a great opportunity for you and your son.

[freespirited]

Are you getting a tax refund / child tax credit this spring for your son? If so, that should be a couple grand? Can you possibly use that money to try selling the trailer and be willing to move it for someone? I don't know how much that costs but I would assume a couple grand? Then maybe you could get $7500 for it. Sure you'll have to pay for the moving but then you might get your asking price or close to it and at least walk away with something.

Keep in mind too that people will be getting their tax refunds and will have some money to spend so I would give this spring to keep trying to sell it but be more personally aggressive about it, such as listing it on craigslist, newspapers, etc. If you siogned a contract wiht the trailer manager, then you might have to still pay her a commission, but it doesn't sound like she is actually earning one so I'd get busy on the marketing side yourself. If the above idea isn't an option then by all means I'd lower the asking price to your absolute lowest price you would accept and just be firm about it. I agree a lot of people don't necessarily like to haggle and would rather just know your bottom line price from the get-go.

The situation in Michigan sounds dismal. You said 1-2k would go a long way in helping with your future, yet you pay that much in lot rent in just 4 months or so, so I see this as a lose-lose scenario. You might just have to walk away if you don't sell it this spring. Relocating to an organic farm somewhere sounds a lot better for your son than a "poisonous" environment. Not being able to let go of things is very toxic to our souls and to God's greater plan for us as well. I'm not happy about selling my home and taking a big loss, but I also believe that doing so will liberate me and allow me to serve my purpose and not be a slave to my finances. Whatever you end up doing, I sincerely wish you and your son the best!

[SleeplessMommy]

Originally Posted by carabee

why not post an ad saying it's free to anyone that can come pick it up?

She does not need to - if she walks away from lot rent, the mobile home park will own the trailer and rent it out or resell it.

How old is the trailer anyway? Have you called a scrap dealer to ask about scrap pricing?