If I wanted to sell my house, could I sell raffle tickets for $1 each and give the house to the winner? Would you buy a ticket for a chance at a $1 house?
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MrBLT needs to be contained
ANSWERS: 9
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Sure you could. Just like you could give away your house for free (as long as you did the paperwork to transfer the title to the new owner). I wouldn't buy a ticket because I like the house I'm in.
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The laws about raffles vary in every different jurisdiction. Some are restricted by city, county or state laws. Most are limited to charity raffles. Be careful to do a complete research before you get started.
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if there were no liens against it, I probably would buy more than one. :)
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No. I have a fear of raffles.
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Already tried it. The bank wanted collateral for the paper the tickets were printed on.
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You might get in trouble in some municipalities for "running a numbers racket"
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here in NZ a few people have tried some similar ways to sell a house, they have put it on trade me, ( thats like your web Ebay site that sells and buys ) with a small reserve, as well, they have had auctions with no reserve, most have sold for less than the value of the hosue, but have sold,and not for completly stupid amounts,..
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I would buy a ticket, but only if the raffle was done by a Charitable organization, and they would get to be involved and all monies sold for raffle tickets over the amount you were asking for house, went to that charity. You would also have to have a 2nd,3rd, 4th prize. You might get a auto dealer involved to donate a car, or furniture store to donate something, cash prize. I have been considering raffling my house. It has been on the market for 6months and i need to sell.
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For anyone interested, there is now a book about home raffles titled, "The Home Raffle Book" and is located at www.thehomerafflebook.com. It's a must read for anyone conducting or participating in a home raffle and it includes a sample business plan.
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