Asheville Mountain Real Estate Blog

Asheville, NC real estate for sale. Information for buyers, sellers and mountain homeowners, without pressure. Rich content for those who are far away about what it is like to live here through the generous use of media. And some nostalgia with our, "Baby Boomers' Fun Stuff", Thanks for stopping by.

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Location: Mars Hill, NC, United States

A small, highly personalized real estate firm specializing in mountain homes and land in greater Asheville.

Friday, September 26, 2008

Something Lighthearted Anyone?

The recent news is negative and uncertain, not to mention highly fluid from minute to minute.

So, let's overlook the implosion of the bailout talks, the largest bank failure in US History, or that 38% of the US population now qualify as financially burdened, and look at an ingenious and amusing selling idea for this Friday.

The New York Times calls it Real Estate's Latest Game of Chance. The idea is to sell one's home by way of a raffle, and the thought, is gaining traction in the blogosphere of late. Here is a story of a Michigan woman planning to raffle off her condo by way of 2,500 raffle tickets at $100.00 each.

This tactic, while creative, is obviously fraught with a whole bunch of legalities, surely to the point that legal counsel would need to be involved. Depending on the state laws, a raffle involving private citizens might be defined as a game of chance, (illegal), or, require that profits be donated to a charity.

True Gotham, NYC based, has several other thoughts and suggestions, as does a Q and A at bankrate.com. There are even a number of web services that seem to have sprung up in response, such as howtowinmyhouse.com, or usahomeraffle.com.

Lots of Red Flags
The arithmetic here is certainly attractive for both sellers, and ticket holders. Gigantic amounts of planning and compliance with everything from state law, to postal regulations, and more, are absolute requirements before one should even begin to consider the idea, let alone do it.

Disclaimer: We have NO experience, NO knowledge, and do NOT endorse, it's just curious.

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Black Bear Realty Website
828 689 2055
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Filed Under: Sellers' Curiosities

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