The odds of winning at a UK house raffle
Winning a UK house raffle is something which you might dream about. Well why not, you can actually achieve you wildest dreams and own a house outright, yes and with no mortgage. The latest concept in home owning is that the owner actually gets to give away the house free of charge to the grateful winner.
There has already been one house winners in UK House Raffle. Marie Segar won Melling Manor after entering a property raffle. The property is estimated to be worth £800,000 in today’s market. Marie purchased 20 tickets at £2 each and scooped a prize piece of real estate. She is now also known Lady of Melling officially by title. That was during 2014.
Since then, there has been a surge in real estate raffles being held all over the country. They can get quite infectious, if you look them, you may even have seen then in the newspapers.
Lord Roger Hickman is raffling his apartment in a Knightsbridge raffle in London. The house is reportedly worth close to a million pounds. You can buy a ticket for just £5.
There is a lady living in Blackheath, London who is raffling her five bedroom house. You can buy a ticket for just £5. This house is worth around £1.25 million.
Dullatur House could be described as 7 bedroom mansion and you could win it in a Scottish house raffle for just £5 and live mortgage free. It had been marketed at £825,000 but was never sold.
There are many live examples UK property raffles on our website and you a can compare them all to see which ones you might want to enter.
Before, you might to read on more about the charity aspects of conducting a UK house raffle.
Conducting a House Raffle
The UK Gambling Commission has been involved in all this because it is necessary to run raffle to achieve and sale. Most of these owners have championed their causes by setting a legal house raffle.
The point here is it needs to benefit some nominated charities in order comply as a raffle. The owner of the house can choose those charities and it would be normal to nominate them the website for property raffle.
The owner of the house takes responsibility of conducting the property raffle and it is recommended that is lawyer is used to set up the legal framework. Personally I would like to make sure of that before I entered.
The real risk though is not selling enough raffle tickets to enable the house to be disposed of a prescribed. That is a very real risk for a number of reasons. The house just cannot be sold until the ultimate number of tickets has been sold.
So, how many failed house raffles a there likely be in the future? That remains to be seen, but then there the matter of those refunds to dealt with.
Winning the House
So, imagine you are waiting for that lucky phone call to say you are the lucky winner. First, rewind to the many months it will have taken since you purchased your ticket.
If you cannot be contacted, it is normal for the next person to be contacted couple of weeks later. Make sure you do not lose your phone. Make sure you also receive you emails.
If you are successful, your new home will transferred to your title a become legally yours.
Other House Raffles
One of the more interesting house raffles is Johnstone Lodge in Scotland, it has a nine-hole golf course with 32 acres. The running costs are being paid by the owner for the first twelve months. The raffle is being held on 1st December 2017.
If you fancy something in warmer climes there is this smart Villa in Cyprus which will convert on 1st February 2018. The tickets are just £2 and it worth £400,000.
UK House raffles are becoming a very popular alternative to the National Lottery. Remember though that the house sellers are not giving as much as much away as Lottery prizes in good causes.
You should also remember that a property is also an asset which can also down as well as up.