Do you own a home you would like to get rid of? Are you having a hard time finding a buyer? Then, you should consider raffling your home. A house raffle could give you a chance to win a house.
When a lot of people are trying to sell their homes at the same time, the market gets oversupplied and prices tend to decrease. You may resist the urge to list your home for a fraction of the price but that often results in what can seem like years without a potential buyer. In the past years, the principle of raffling a home instead of selling it has come to the mind of numerous England inhabitants. In fact, it looks extremely attractive as it is a fun way for an owner to liquidate their home, while it lets a buyer acquire a home for a few bucks. In order to further describe house raffles and the concept of winning a house, this article is going to cover the following points:
- What is a home raffle?
- Are Home Raffles Legitimate?
- How did Jemma Niclin Win a House Raffle?
- Why do Home Raffles Have a Bad Reputation in the UK?
- Why Are Home Raffles the Future of Real Estate?
- How can I Raffle My House?
What is a Home Raffle?
A raffle usually follows the core principles of the classic lottery. The organizer usually issues tickets that will later be bought for a cheap price ranging from 1 to 20€. After waiting for a few months, the buyer hopes that enough people bought tickets to make back the value of the house. In due course, they raffle the house by selecting a random winner with a raffle software. As nothing in life is certain but death and taxes, the winner of the home will have to give the government its due. Several home raffle-organizing companies cover the taxes of the winner as it would be a bummer to not claim the house because of its exorbitant taxes.
Are Home Raffles Legitimate?
Such lotteries cannot take place without the blessing of the authorities. For them to be organized, companies have to seek the services of a notary and approbation of the gambling commission. Organizers that do not respect these conditions will find themselves prosecuted and hit with a severe fine.
Consequently, these raffles are legal and legitimate when they have the approval of the above-mentioned commission. A trustpilot score could also help you make the decision of which company you should go with.
How Did Jemma Niclin Win a Home Raffle?
Jemma Niclin, a 23-year-old woman from the United Kingdom won a house that has a value of 545,000€. She was living at home with her family at the time when she spotted an advert on Facebook for a four-bedroom estate. As intriguing as it was, she thought it could be a marvelous idea that could end up winning her a home.
Thankfully for her, she ended up being drawn the winner of the raffle and having her taxes and legal fees paid for. Thanks to a 2€ raffle ticket, Jemma now owns a home, an objective that usually takes decades to achieve.
Similarly, to her, you could win your dream home by participating in a raffle. Before purchasing your tickets, make sure the house lottery is organized by a real company that has certified documents. Additionally, you should always read all the terms to check whether the taxes and legal fees are covered or not. With that being said, you should be good to go!
Why Do Home Raffles Have a Bad Reputation in the United Kingdom?
Unfortunately, a lot of companies doing raffles cannot be trusted. Some will scam you and take your money, others will organize a real raffle then find a reason to not give the original prize by replacing it with a much more minimal cash prize you never agreed to. There are other companies that act like they will give money to charities but end up keeping all the profits.
We have encountered companies that hide the terms and conditions, and force winners to forfeit their prizes as the companies choose not to cover prize taxes. If you organize a raffle but do not cover the taxes, is it really a prize? Is it really a prize when you win a house then have to pay 60,000€ in taxes? These different reasons are why house raffles in the UK have a bad reputation. People tend to turn their backs on raffles as they are sick and tired of scammers. People do not want to win a house and then be confronted with things they did not expect.
Why Are Home Raffles the Future of Real Estate?
By 2023, the reputation of home raffles will get much better. The reason behind it is the fact there are companies on the market that make the right choice by being as transparent as it gets and by never failing to deliver on their promises. As soon as these new companies have crowned more winners, people will start to increasingly trust these companies.
In addition to this, property houses in the Western hemisphere keep augmenting as well being that the world population keeps increasing and the house supply is not. This results in prices increasing and becoming unaffordable. House raffles will give people a chance to become homeowners for less money. Thus, more inhabitants will rely on them to win a house.
How Can I Raffle My House?
Now that you know what a raffle is, you may be interested in raffling your home. A couple companies may come in handy by handling everything for you. That includes the legal paperwork, the evaluation of your home and organizing the raffle. Cloverhut, a recently created company is here to help. Cloverhut is the company that will land you your dream home for a cheap price or help you get rid of your house.
The Spanish company has been making a lot of noise as people tend to become increasingly aware of home raffles and the benefits of purchasing tickets from Cloverhut. The last raffle that we held saw its winner claim a new house 5 minutes away from the beach in the South of Spain. Cloverhut is well-known for delivering all of its prizes and covering taxes. You too could win a house by taking place in the next raffle.
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