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dapperdave

Raffle House

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couple decided to sell their house by raffling tickets for £25 but they couldn't sell enough tickets! sign of the times i guess :D

COMPETITION: House draw cancelled

A COUPLE who sold raffle tickets in a bid to sell their £270,000 home have pulled the plug on the competition.

Despite a massive advertising campaign in the media, the pair say they have not sold enough tickets to go ahead with the draw.

But they want to assure those who have bought tickets that all the money will be returned.

Niall and Karen Hughes launched the competition earlier this summer and hoped to sell 20,000 tickets priced at £25 each.

The prize would be their luxury five-bedroom home in Westmead Avenue, Wisbech, complete with all their furniture.

However, so far only 12,000 tickets have been sold, and the couple do not want to wait any longer to pursue their dream of running a hotel on the Norfolk coast.

Niall said: "I just thought that with the publicity, it would only take six weeks to sell the tickets needed, but now it's been going on three months and we just want to move on.

"No one will lose their money. None of the cheques were cashed, so they will just be shredded. The only person who will lose any cash is me."

original story

http://www.peterboroughtoday.co.uk/viewart...ticleID=1045446

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They wanted 500k it seems. :blink: The house was probably only worth 150k a few years ago. I suppose there is more to this than the story says. I dont know if anyone can do some digging and find the house on rightmove.

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Guest Charlie The Tramp
However, so far only 12,000 tickets have been sold, and the couple do not want to wait any longer to pursue their dream of running a hotel on the Norfolk coast.
So their house is 'worth' 270k, they sold 300k worth of tickets, and they're giving the money back?
They wanted 500k it seems.

A very clever idea.

House worth 270k, Hotel costs 500k.

Why get a mortgage, just find 19,999 mugs. <_<

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It seems pretty obvious that they are struggling to sell the house for enough for them to finance this hotel idea. I think they are going to have to accept that they aren't going to get as much as they want.

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what a great idea! Sell 12000 tickets at £25 = £300,000.

Invest in instant access high interest savings account from early summer to now (approx 3 months) at 5% = £3750 profit.

Nice B)

Edited by xian

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way out for btl ers and could u imagine if lots of people started doing this, bet there would be some legislation rushed through to stop it. Housng market would be in chaos? Very enterprising though.

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way out for btl ers and could u imagine if lots of people started doing this, bet there would be some legislation rushed through to stop it. Housng market would be in chaos? Very enterprising though.

If their home really is worth 270K they should have taken the money! 30K profit aint bad. They will be accepting an offer of 245 in about 3 months.

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way out for btl ers and could u imagine if lots of people started doing this, bet there would be some legislation rushed through to stop it. Housng market would be in chaos? Very enterprising though.

What grounds would there be?

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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