Raffle off your house?

[Moorf]

If you're trying to sell in the UK, keep an eye on the outcome of a case that's currently being investigated by the UK's Gambling Commission. They are investigating whether a couple, who sold 46,000 tickets at 25 quid each to "win" their house, are legally allowed to do so... could be an option if it's deemed legal or if there's a way around the current legalities! That's a cool 1.1M UKPounds!

http://www.out-law.com/page-9511

[clairelouise]

Personally I think it was an ingenius idea! Full marks for trying, especially in the current market!!

Imagine having to give back all that cash though if it proves to be illegal??!!

[Moorf]

I wonder if they get to keep the interest they made on the entry fees?!!

[clairelouise]

Ooooooh hadn't even thought of that! They were onto quite a little money earner there then weren't they!?!!

[jubjub]

did someone not try to do this a couple of years ago,. then sod off with the money as they didnt sell enough tickets? I remember something on the BBD news site about it, was a posh (ish) house too...


edit, nope they didnt scarper... it just didnt work out...

http://news.bbc.co.uk/1/hi/england/c...re/4237388.stm

[JandL]

Had a house round the corner from us do the same about 3 years, I believe they didn't finish the process either.

[Mrs Pony]

We had a lady here that was going to "give" her house away to the winner of an essay contest... you had to pay $100 to enter and there had to be a certain amount of entries... Don't think they had enough entries so no one got the house.

[Paul]

I have a ticket and just saw they had postponed the draw which should have been today. They are one of the few schemes of this type that has ever managed to sell enough tickets. Good luck to them I say - lets hope the Gambling Commissioers think so too! A 1 in 46,000 chance of winning a (now probably sub) £1m house is better odds than the lottery!