The raffle-a-home gimmick appears to be gaining strength with the arrival of a new website - Rafflemyhouse.com - which will also be featured on Property TV.
In recent months several individual sellers have set up skills-based questions in order to get around gambling regulations, with their home being the raffle prize.
Now the new website is encouraging more sellers to go down this route.
Its first property is a three bedroom bungalow in the West Midlands, and apparently valued at over £300,000. Raffle tickets will be £1 each.
The website is to be featured on Property TV, a television channel dedicated to property; the winner will be announced on air once the market value of the property is met, bringing the competition to an end.
"This was an idea born out of our knowledge of the UK property market combined with our ambition to do our bit to improve the UK housing problem" claims Ricky Jutish, managing director of the new website.
"We are a platform that supports new and innovative ideas in the property business and this is certainly a concept that excites us" says Michael Hammond, founder of Property TV.
The website says it will also be donating a percentage of the total money raised to the Salvation Army.
Although the marketing material for the website claims it is pioneering a new idea, a similar site - WinAbode - was established recently. This gives entrants the opportunity to win a home for £2 - but if you sell through the same route, you pay a hefty commission of five per cent plus VAT.
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Where would stand if, after winning the home a survey identified problems? would you be tuck with a money pit? Are you able to carry out any form of inspection/survey on the property before entering the competition? Likewise with legal/conveyancing issues?
You could just walk away. It only cost you £1 anyway.
Or sell it with another raffle !!
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