Sell My House Quickly in Ealing
Sell My House Quickly found another interesting article about properties in Ealing. A Complete Guide To Property Raffles.
What is a ‘Property Raffle’?
‘Win a House’ prize draws and competitions, better known as property raffles, are another innovative way of selling your property to prospective buyers.
They are a slightly more unconventional way to sell your property and are favoured among some homeowners that are struggling to budge their property.
As a general rule, hopeful individuals purchase a raffle ticket (or multiple) in the raffle competition. As with any raffle, a raffle ticket is then chosen in a draw. Whoever the chosen raffle ticket belongs to is the new property owners, typically bagging themselves a bargain property!
Who do vendors choose to sell their home via a Property Raffle?
It was observed plenty of reasons why buyers might choose to flog their home through a raffle. More often than not, it is because their homes sit on the market for years before gaining traction.
Due to the uncommon nature of home raffles, these get a lot of local and regional publicity, particularly from the press. In many cases, we have seen property raffles go viral, garnering plenty more tickets sold than expected. In these events, ticket sales are often relatively high and certainly cover the cost of the property.
Many people are wary of entering property raffles since the cost of the ticket is often not the only cost they incur. As we have just read, property raffles are a legal land mine and a difficult one to navigate!
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