{"id":16362,"date":"2018-05-03T12:15:59","date_gmt":"2018-05-03T11:15:59","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=16362"},"modified":"2023-10-09T14:50:54","modified_gmt":"2023-10-09T13:50:54","slug":"feeling-lucky-raffles-are-increasingly-popular-way-to-sell-property","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-gb\/news\/feeling-lucky-raffles-are-increasingly-popular-way-to-sell-property\/","title":{"rendered":"Feeling lucky? Raffles becoming increasingly popular way to sell property"},"content":{"rendered":"

The idea of winning an entire house for the cost of a \u00a35 raffle ticket might seem too good to be true, but it is an option that growing numbers of people are offering as a novel way to sell their homes.<\/strong><\/p>\n

This week, yet another property raffle has made headlines – this time, a \u00a3625,000 one-bedroom flat in Brixton, south London<\/a>, which can be won for just \u00a35 by one lucky ticket-holder. The flat, which is in a highly desirable location<\/a>, could reportedly fetch around \u00a31,900 a month in rent, is newly refurbished<\/a> and is being offered by Raffle House, with a minimum of 150,000 tickets needing to be sold for the process to go ahead.<\/p>\n

As well as the top prize of the property, three runners-up will each receive a \u00a31,000, and if not enough tickets are sold to cover all the costs, a cash prize will instead be handed out to the winner.<\/p>\n

Raffle House founder Benno Spencer commented: “It’s become basically impossible for young people to afford their own place<\/a> in London, so the\u00a0Raffle House\u00a0platform will be a fun and affordable way for people to do just that.<\/p>\n

“The market is broken and this start-up intends to level the playing field<\/a>. This isn’t a one-off punt because I need to sell a flat. This is the beginning of a new property platform, with new houses coming on every few weeks.”<\/p>\n

Proper research is vital<\/h4>\n

Other platforms with property raffle offerings include rafflemyhouse.com, londonhouseraffle.co.uk and Win-houses, among others – proof of how much the market has grown in recent months. Win-houses is one of the newer platforms, which offers vendors the chance to sell their homes<\/a> without having to pay commission. They are offering the chance to win a villa in Turkey for a \u00a310 ticket, with the odds of winning claimed to be one in 80,000.
\n[crb_image link=”https:\/\/www.buyassociationgroup.com\/en-gb\/advice\/property-investment-starter-course\/” image=”https:\/\/cdn2.hubspot.net\/hubfs\/1717782\/Asset_Store\/WebCTA\/cta.jpg” align=”left”]
\nCommenting on the fact that among the successes have been a number of failed house raffle competitions in recent months, Win-houses founder Mark Lockhart said: “Win-houses has spent 12 months researching and analysing our offering before going live.<\/p>\n

“The failure of many of these property competitions is down to unreliable payment gateways<\/a>, no experience of the property market, poor marketing and being too ambitious<\/a> in the number of tickets sales in an unproven market.”<\/p>\n

Examples of property raffles that have failed include a \u00a343,000 property in Durham that did not reach 10,000 ticket sales and was forced to hand out a \u00a37,000 cash prize instead; and a \u00a33.5m Berkshire house offered through a \u00a325 spot-the-ball competition that did not sell enough tickets.<\/p>\n

Although it is hugely tempting, particularly in today’s difficult property market, for homeowner hopefuls to enter such raffles for the chance of winning a home, there are pitfalls and it is vital to thoroughly research each raffle to ensure its legitimacy. For more information, read this article<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The idea of winning an entire house for the cost of a \u00a35 raffle ticket might seem too good to be true, but it is an option that growing numbers of people are offering as a novel way to sell their homes. This week, yet another property raffle has made headlines – this time, a… Read more »<\/a><\/p>\n","protected":false},"author":1069,"featured_media":16377,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[8,4,6],"tags":[341,317],"class_list":["post-16362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-alternative-investments","category-investment","category-uk-housing-market","tag-newsletter","tag-property-selling"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/16362","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/users\/1069"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/comments?post=16362"}],"version-history":[{"count":1,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/16362\/revisions"}],"predecessor-version":[{"id":6097248,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/16362\/revisions\/6097248"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media\/16377"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media?parent=16362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/categories?post=16362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/tags?post=16362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}