House Raffle

[MR_A]

Hi All,

Driving home from work I was thinking that raffling off my house would be easier than selling it due to the way things are at the minute, not that I am planning either.

I had a wee browse about on google and it is possible.

Now say your house is worth 60K.

You want to sell 75 - 80k worth of tickets to ensure you cover all solicitors costs, ticket costs, VAT etc

So for arguments sake say 100k worth all in all to leave you with a reasonable deposit for your new place. I guess you could sell as many as you wanted over and above.

So either,

£10 a ticket selling 10,000 tickets
£20 a ticket selling 5,000 tickets
£30 a ticket selling 3,333 tickets........... and so on.

Am I mad for thinking with proper structure and advertising you could sell 5000 tickets no problem??

Would you buy.........?

[ducati]

Hi All,

Driving home from work I was thinking that raffling off my house would be easier than selling it due to the way things are at the minute, not that I am planning either.

I had a wee browse about on google and it is possible.

Now say your house is worth 60K.

You want to sell 75 - 80k worth of tickets to ensure you cover all solicitors costs, ticket costs, VAT etc

So for arguments sake say 100k worth all in all to leave you with a reasonable deposit for your new place. I guess you could sell as many as you wanted over and above.

So either,

£10 a ticket selling 10,000 tickets
£20 a ticket selling 5,000 tickets
£30 a ticket selling 3,333 tickets........... and so on.

Am I mad for thinking with proper structure and advertising you could sell 5000 tickets no problem??

Would you buy.........?

It would be nice, you might get twice market price but I would keep the ticket prices low and you would have to get the wording right on the small print so you would need a lawyer. You don't want to end up selling your house for 5 grand :eek:

[Kodiak]

I also believe you would require a Licence. It could also be a special licence due to the Price of the tickets.

Other than that it could be an excellent Idea as I know I would like to win a House for £10.00

[gollach]

A few years ago, I remember there was a hotel in Oban that wasn't selling. They set up a site to sell raffle tickets at £5 each but the plan fell through I think. More on it here
http://findarticles.com/p/articles/mi_qn4156/is_20030511/ai_n12582939/

[upolian]

What happen's if you sell 500 tickets......that wont reach the value of the house,so do the ticket buyers get their money back or what would happen??

[andrew.bowles30]

hi i would love to buy a ticket any one could win you just dont know :Razz

[Dadie]

Havent people already done this on ... dare I say it...

EBay?

[George Brims]

This was done a few years back for the house featured in the movie "Body Double". It's a weird 1960 house on a stalk, in the Hollywood Hills. They pitched their tickets high, $10,000 I believe. As far as I can remember they sold plenty tickets and got about double the market value for it, due to the ease of getting publicity. That and the thought of seeing Melanie Griffith out the window...

See the house here (scroll down, its called the Chemosphere)
http://www.maebrunkenstyle.com/profiles/blogs/los-angeles-architecture

[bagpuss]

Why not just sell it at auction? It just needs two bidders to work up the price...

[bagpuss]

But having said that our neighbours sold their car that way. It was a classic jaguar- and they made much more than the official 'book' value

[Phill]

'tis a fine idea and I know a guy that did just that

http://www.wirralglobe.co.uk/news/3685256.One_way_to_beat_the_crunch_/

[sweetpea]

mmhm im not sure raffling is the way to go.