Senior Member
Join Date: Feb 2006
Location: Sin City, Nevada
Posts: 2,885
Bikes: Catrike 700, Greenspeed GTO trike, , Linear LWB recumbent, Haluzak Horizon SWB recumbent, Balance 450 MTB, Cannondale SM800 Beast of the East
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Cutting the seatpost is no big deal as you can find a replacement online for around $12 if it needs to be replaced to make the bike saleable for a new owner. Unfortunately it seems as though your only option is to sell the bike, take somewhat of a loss, and buy one that fits. Just be sure to measure the diameter of the current seatpost before ordering one so you get one that fits. If you know anyone who is an avid cyclist, enlist their aid to make sure you don't make a bad choice a second time.
One thing that would turn me off right away by your current bike is the suspension fork. This is an entry level bike and it is always better to buy one with a rigid fork (no suspension) so that the manufacturer used better parts elsewhere on the bike rather than devoted to suspension forks that are mostly for show.