Ask The Get Out of Debt Experts

We Are Going to Sell Our House and Travel Around in an RV. – Deb

Deb

“Dear Steve,

Our situation is not pretty but, could be worse. Purchased home in 98 for $124. Several re-mtgs. I believe it’s worth $200+. Our jobs are lost. We have mod. credit debt. and x2 car pymts. Minimal income now and can be increased w/new jobs. We’re thinking of selling and RV’ing it.

Is it possible to sell in our situation w/ profit and how do we go about it.. We’ve thought long and hard about the RVing too.

Deb”

Dear Deb,

RVing has always sounded like a fun adventure. I used to have access to a 45′ custom bus and traveling in that was so much fun. I loved it.

What really took the wind out of my RVing sails was the stories of RVers stuck at campgrounds during the price of very high gas. Some people were just saying they could not afford to drive home.

It might be possible to sell your house in this market and make a profit. The key here is that the final value of your house will be determined ultimately by the price that both you and the buyers agree to.

Make sure you explain your situation clearly to a real estate agent you decide to work with to sell your house for you. People tend to go with the agent that says can get them the most money. In the real estate business this is often called “buying the listing” since the agent is bribing you with a promise of a high sales price to sign with them.

Depending on where you live, I think you are going to have to be prepared to sell for less than you want in order to get a quick sale of your home. The lower the price, the faster it generally sells.

In a perfect world you’d be able to unload the cars, unless you are going to tow one, and payoff the credit card debt before you set off on this adventure. The less financial obligations you have, the more freedom you’ll have.

READ  Does travel insurance cover the coronavirus?

Drive safe and enjoy your grand adventure.

Sincerly,
Steve

You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.




About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

2 Comments

Leave a Comment

Scroll to Top