Can’t sell your home? Raffle it off
The residential real estate slump has brought much misery, to be certain. But it’s also exposed some real creativity on the part of homesellers desperate to unload residences nearing foreclosure.
The latest bit of creative genius that I’ve discovered comes by way of The New York Times, which details the story of a couple who, unable to sell a home that was nearing foreclosure, held a raffle to get the home off their hands. Yes, a raffle.
You can read the story here.
The couple solf raffle tickets for $100 apiece, with the lucky lottery winner guaranteed their old farmhouse — which the couple had been unable to sell. The hope was that the couple, with the marketing help of a local real estate agent, would be able to sell enough raffle tickets to cover the cost of the house.
Strange thing is, the plan worked beautifully. The couple sold almost 6,500 tickets. The proceeds from the sale not only covered the cost of the couple’s mortgage, but left them with $200,000 extra, that they promptly donated to charity.
Amazing stuff. I don’t know if this exactly qualifies as “good news.” But in today’s troubled real estate market, you take what you can get.
I think it should work.I wrote every legislator in Fl not one answered about the suggestion.Wrote every senator in Washington not one had the decency of answering.Maybe they dont want the foreclosure crisis to be fixed while they can get some funds for their pet projects.Also wrote Bush.
Everybody wins : bank gets ALL its money,owner saves credit, gov.does not have to bail out and gets taxes, what is wrong people ,lets see if we can move this idea forward and all win.
It is the real estate lobby’s that will not let it be. They have to much power and it will put them out
Give them a comm. if theyr client buys the winning ticket.
I have a 3 bedroom property in Spain could you raffle it off
Has anyone raffled off a business? Is it legal? Can you get more than your asking price and have it be legal? What companies can provide proof positive evidence that the public will be protected and that this is legitimate.
For anyone interested, there is now a book about home raffles titled, “The Home Raffle Book” and is located at http://www.thehomerafflebook.com. It’s a must read for anyone conducting or participating in a home raffle…
If you would like to raffle your home, I encourage you to visit Raffle Mansion. Our team will assist with your home raffle to ensure all you comply with all legal requirements. We can also help get a non-profit organization to sponsor your event.
For more info visit: http://www.RaffleMansion.com
Raffles online are illegal online gambling. Promoters are subject to prosecution.