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Win a house in a €20 Raffle!

talla10

We've all seen the broke home owners who decided to raffle off their €400 k properties at the cost of €20 a ticket but has anyone ever heard how the raffle went??and did the owner actually get enough to pay any where near there mortage??and who the hell won??

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KeithM89_old

What??

ejmaztec

talla10 wrote: »

We've all seen the broke home owners who decided to raffle off their €400 k properties at the cost of €20 a ticket but has anyone ever heard how the raffle went??and did the owner actually get enough to pay any where near there mortage??and who the hell won??

Yes
Yes
a €20 winning ticket holder.

talla10

Don't tell me ya never heard of it!!I've seen it at least ten times in media where some people have created a raffle, usually 20 euro, declared a date for the raffle and sold off as many 'tickets' as possible to get up enough money to clear mortgage.Off top my head i saw 1 in northwood santry, 2 in galway and 1 in kerry!!

talla10

ejmaztec wrote: »

Yes
Yes
a €20 winning ticket holder.

Cool thats all i wanted to know

whatsamsn

wait...there was a raffle for a house? a 20 euro a ticket raffle? :pac:

So it would take >
> 50 tickets to get to 1000 euro
> 1000 tickets to get to 20,000 euro.
> 10,000 tickets to get 200,000 euro.

I smell scam. You'd be stupid to buy a ticket.
if its real, its a clever, VERY CLEVER way to make money. Say 10,000 tickets sold to cover the cost of the house (an example) But you sell 12,000 tickets >> 2,000 tickets profit (aka, 40k profit)

nice.

ejmaztec

whatsamsn wrote: »

wait...there was a raffle for a house? a 20 euro a ticket raffle? :pac:

So it would take >
> 50 tickets to get to 1000 euro
> 1000 tickets to get to 20,000 euro.
> 10,000 tickets to get 200,000 euro.

I smell scam. You'd be stupid to buy a ticket.
if its real, its a clever, VERY CLEVER way to make money. Say 10,000 tickets sold to cover the cost of the house (an example) But you sell 12,000 tickets >> 2,000 tickets profit (aka, 40k profit)

nice.

Desperate people have been doing it for years.

holystungun9

I was sure that there was some legal issue that made this kind of raffle a no-go. I think is was the Sunday Business Show a year ago or so. Well, I heard it somewhere. I'd be curious about the paperwork and transfer of ownership on this. Also, has anyone else picked up on the reluctance of banks to give deeds back to paid off mortgage holders. I heard from a reliable source that even if you own your property now, the banks are really stalling on giving you the deeds. Possibly because then they can say they have the deeds to x number of properties to a value of x and therefore making their financial situation look better - to the government, inspectors, IMF, not sure really but it does make sense.

StupidLikeAFox

Was discussed here. Looks like it was a bit of a scam alright

http://www.boards.ie/vbulletin/showthread.php?p=67854005

phasers

Normally I see these advertised, then cancelled very abruptly because they don't sell enough tickets.

dilallio

I know of one case about 25 yrs ago where someone attempted to raffle a property.

They sold a load of tickets to be told by revenue that it was illegal.

The money was seized.

I've seen more recent examples where developers trying to sell houses would raffle the last house in the development to recent purchasers.
If the 2nd last house wasn't sold, then tough luck.

AnonoBoy

I've run my fair share of house raffles over the years.

The first thing you've got to do is make sure the owners are on holiday the day of the raffle. After that everything is gravy!

Pj!

Barney Curley done this years ago, the first to in this country I believe.

(With Middleton Park House)

Saila

pfft, just wait till you can buy one for €20, wont be long now or wait untill they are giving them away with cereal

whatsamsn

When you think about it,
this is nothing new. the scale is just bigger.
how many times have you seen a raffle for a car in a shopping centre? wouldnt be suprised if the total number of tickets could by the car twice :pac:

so, is this legal?

(great way to make money in recession :pac: )

admiralofthefleet

number 11, its never let me down

galwayrush

A permit has to be obtained from the Gardai and there's a strict ratio of how many tickets can be sold relative to the value of the prize. Then there's tax implications.

mikemac

These are on the Joe Duffy show very often
100 euro is usually the price of a ticket, I'd be suprised if it were just 20 euro
Anyway, it'd be a Father Ted job
Wouldn't you know, the brother or sister of the owner managed to win the house :rolleyes:

That'd be my first reaction and even if I knew the seller I wouldn't buy as I'd be sure it would be fixed

whatsamsn

galwayrush wrote: »

A permit has to be obtained from the Gardai and there's a strict ratio of how many tickets can be sold relative to the value of the prize. Then there's tax implications.

Hmm, interesting.
one thing that strikes me straight away is the price of something. Lets say one goes to all the legal routes. it sill comes down to the price of something.

Say a car cost 10,995euro. But it only cost you 8,000 (an example) ... thats 3 thousand euro you can lie about.

Lando Griffin

Is there any second prize?

L'prof

Lando Griffin wrote: »

Is there any second prize?

2nd prize is usually a garage.

mikemac

Lando Griffin wrote: »

Is there any second prize?

Set of steak knives
Third prize is you are fired

holystungun9

Lando Griffin wrote: »

Is there any second prize?

A speed boat, just like the one they give away on Bullseye. Oh the memories.

Jesus Wept

I remember my cousin posting a link to the apartment one and saying what a great idea it was an that it was her friend who was doing it.

egg, face.

Capt'n Midnight

wasn't there a lot of fuss with the lotto, they limited everyone else to something lke £10,000 raffles which affected a lot of other charities :mad:

patwicklow

Lando Griffin wrote: »

Is there any second prize?

yeah the wife:D