The Masked Tulip Posted August 22, 2005 Share Posted August 22, 2005 Sky News has an item on it about a man who spent about 50/60K doing up a house and has it on the market for 400K. He has had no interest in it so he is now hoping to sell 800 £500 tickets in a raffle for it. If he does not sell the 800 tickets you get the £500 back minus a 10% - I think - fee for admin/handling. Quote Link to comment Share on other sites More sharing options...
apom Posted August 22, 2005 Share Posted August 22, 2005 Do you have a link?> seems like an odd thing to do... £500 for one chance in 800.... anway.. not going to buy one.. Interesting though,,] so if he sold £799 tickets.. thats a £39,950 profit... if he keeps the 10% fee.. well good luck with that one.. Quote Link to comment Share on other sites More sharing options...
AteMoose Posted August 22, 2005 Share Posted August 22, 2005 (edited) 10% for fees! thats 40k, almost covers his renovation costs... Edited August 22, 2005 by moosetea Quote Link to comment Share on other sites More sharing options...
Guest consa Posted August 22, 2005 Share Posted August 22, 2005 Sky News has an item on it about a man who spent about 50/60K doing up a house and has it on the market for 400K. He has had no interest in it so he is now hoping to sell 800 £500 tickets in a raffle for it.If he does not sell the 800 tickets you get the £500 back minus a 10% - I think - fee for admin/handling. <{POST_SNAPBACK}> I saw this on SKY news last night as well, this is illegal to do without a licence I think, can someone confirm? and broadcast on SKY If it is illegal we should all e-mail Sky news and let them know what we think!! Anyone got the sky news e-mail address? Quote Link to comment Share on other sites More sharing options...
tommyboy Posted August 22, 2005 Share Posted August 22, 2005 quote "according to Hometrack, the property data specialists, the average price of a detached house in his area is £204,000. " we spoke about this on another thread, was on c5 news aswell he needs the 400k to cover the costs of his morgage and renovations he has made In the 6 months it has been on the market has had 1 viewing, not suprised at that price i think he has only sold 50 tickets, still that is £2.5 k he doesnt have to give back if all the tickets dont sell anyone know the law on this? Quote Link to comment Share on other sites More sharing options...
backtoparents Posted August 22, 2005 Share Posted August 22, 2005 quote "according to Hometrack, the property data specialists, the average price of a detached house in his area is £204,000. "we spoke about this on another thread, was on c5 news aswell he needs the 400k to cover the costs of his morgage and renovations he has made In the 6 months it has been on the market has had 1 viewing, not suprised at that price i think he has only sold 50 tickets, still that is £2.5 k he doesnt have to give back if all the tickets dont sell anyone know the law on this? <{POST_SNAPBACK}> 2.5K? 2 month's depreciation and counting. /G Quote Link to comment Share on other sites More sharing options...
Guest consa Posted August 22, 2005 Share Posted August 22, 2005 (edited) quote "according to Hometrack, the property data specialists, the average price of a detached house in his area is £204,000. "we spoke about this on another thread, was on c5 news aswell he needs the 400k to cover the costs of his morgage and renovations he has made In the 6 months it has been on the market has had 1 viewing, not suprised at that price i think he has only sold 50 tickets, still that is £2.5 k he doesnt have to give back if all the tickets dont sell anyone know the law on this? <{POST_SNAPBACK}> Agree!! We need to know the law, any lawyers here? Edited August 22, 2005 by consa Quote Link to comment Share on other sites More sharing options...
Beaker Posted August 22, 2005 Share Posted August 22, 2005 You know, with the housing market as fantastic as it is at the moment, I'm suprised people have resorted to raffling their house! (note: as sarcasm doesn't email very well, as a hint there might be the teeniest hint of it in the above sentence) Quote Link to comment Share on other sites More sharing options...
Once in a lifetime Posted August 22, 2005 Share Posted August 22, 2005 I’ve heard of that before, it has been done. I think an official Judicator has to preside. One couple did it, and didn't get the value of their property so they voided the raffle and gave the money to charity. It can’t be that successful or we would be seeing it more often. What a great idea for all you Estate Agents out there! start selling scratch-cards/bricks! Quote Link to comment Share on other sites More sharing options...
tommyboy Posted August 22, 2005 Share Posted August 22, 2005 http://property.timesonline.co.uk/article/...1729738,00.html looks like as he is asking them a question with a £500 processing fee, it is classed as a competition?? im off to read the Betting, Gaming and Lotteries Act, Quote Link to comment Share on other sites More sharing options...
tommyboy Posted August 22, 2005 Share Posted August 22, 2005 http://www.liskeard-today.co.uk/today/opti...il.cfm?id=15435 bit more info, dont like the sond of the american kitchen?? so he has spent £150k revovating it?? anyone know the average price in 2000 when he brought Quote Link to comment Share on other sites More sharing options...
Solvent Celt Posted August 22, 2005 Share Posted August 22, 2005 Saw the item on sky news and it seemed very bearish. I was amazed that the prat hadn't even bothered to mow the lawn before the cameras arrived. Quote Link to comment Share on other sites More sharing options...
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