Total newbie's first but big mistake

[Don Lee]

Hi guys
About 2 weeks ago, I got my first HUD property under contract.
Numbers were good. There was nice spread HUD asking price and Purchsing price.
Everything looked fine, but I overlooked one thing: the OFFER PRICE.
My offer price is $189,000 and it's located in Memphis area.
My mentor said it's almost impossible to get a cash buyer who would buy such an expensive price.
Do I have to give up on this one and lose my $1,000 earnest money?
If I have to keep going what kind of marketing would you recommend? Direct mail?
(I'm currently doing marketing on craigslist, backpage, facebook ads, postlets)

P.S: I doing this virtually. I live in Canada.

Thank you in advance