Another House Raffle

Yes indeed there is yet another house being raffled for $100 per chance.  Remember the SanMar House Raffle?  That was a smashing success raising over $200,000 for the SanMar Children’s Home while allowing the sellers to get the $380,000.00 for which the home was appraised. This time the 2900sf home belongs to a NJ woman who is raffling the home on eBay.  From WCBSTV.com:

Looking for a house in New Jersey? How about four bedrooms, a huge living area, cathedral ceilings and a stone fireplace for, say, $100?

"One hundred dollars, yes," owner Sharon Hart said.

Say hello to Hart and her 2,900 square-foot ranch home in Willingboro, which admittedly could use a coat of paint, but is now available on eBay, she says, for the rock-bottom price of $100.

The obvious question: Why?

"Well … I had the house on the market for about two-three years. It’s not selling so I need to get rid of the house. I cannot afford it anymore," Hart said.

Now of course there is a catch. Not a big one, but a catch nonetheless.

"The house is being raffled off," Hart said.

That’s right. Hart says the house will be sold via raffle on eBay — $100 per entry. And who knows how many hundreds or thousands of people are competing for it?

When asked how much money – or entries – she needs, Hart said, "About 2,000 people to purchase the tickets. To pay the mortgage off."

If Hart doesn’t get what she wants, she says she’ll keep the crib and return everybody’s money. If she does, she says somebody will be getting a house – for a C-note.

Hart says the raffle will be drawn on May 1.

Good luck Ms. Hart.   Several people from across the country have emailed me and commented on TrueGotham that they too would like to raffle their homes.  Both of these seem like viable options but I have a strong preference for the SanMar way where a charity benefits from the sale as well.

Are we going to see a trend here?

For tips and advice on conducting your own raffle, check out How To Raffle Your House.

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4 Responses to Another House Raffle

  1. I do believe it is a great way to keep the market stable, offer buyers opportunities and satisfy the bankers. I will be conducting three sales for $300.00 each giving buyers three chances to win. All three homes are distressed financially and I will need to sell 5000 tickets. I can be reached via email at http://www.meetthesellers.com

  2. avatar Justin Grau says:

    Are there any particular requirements to do a raffle, and do you know how they got the raffle tickets sold?

  3. The SanMar raffle in hagerstown Maryland was fortunate enough to have an amazing real estate agent representing the house who completely donated her time and was effective in getting the word out about the raffle. Blogs like mine, major TV and print media, and San Mar web site also marketed the raffle. The buzz was contagious. I think the key is to make sure the raffle benefits a charity and isn’t seen as just an easy way for a homeowner to get out from under a mortgage.

  4. avatar Derek Wallace says:

    Anyone know how this turned out? I thought the inter-state gaming commission or someone like that might step up. There are rules surrounding auctions, raffles, lotteries, etc. I’ve been doing some link-hopping, but haven’t found any follow-up to Sharon Hart’s story.

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