2 Bed Northampton Apartment - Cash Winner
Joining the increasing number of property competitions on the Raffall platform in 2021 is this two bedroom apartment in Northampton. Recently refurbished it would make an ideal addition to a rental portfolio. Tickets cost £5 each.
Winner: Alexander Hammond
Launched: 1st February 2021 Closed: 31st May 2021
Location: Far Cotton, Northampton, NN4 8DW
House Value: £150000 (2 Bedrooms)
Ticket Price: £5.00 (Free Entry - See 5.6 in Terms)
Tickets Sold: 2724 Revenue: £13620 (Estimated)
Cash Alternative: 75% of ticket sales
In many Raffall competitions it's hard to know the exact location of the prize on offer. However this one is a bit different. Whilst the promoter only gives us Far Cotton in Northampton in the blurb, we can see from the pictures that the apartment is above a Betfred Bookmaker. And all we then need to do know is find where Betfred is located in that area. Unfortunately we can't find a valuation so we've estimated that at around £150,000 which may be generous. The property does seem to be perfect for rental though as Northampton University and Northampton General Hospital are nearby.
How To Enter The Competition
Not a lot of information is given about the apartment. It has two bedrooms, refitted kitchen area and refitted bathroom and has recently been refurbished. If you'd like to see more then there's a tour online of the apartment. The tour has been created by Inspired Sales and Lettings which is a property company owned by the promoter of the competition. We wonder whether this is just a canny way of getting some advertising for that company? Anyway as far as we know all legal fees and costs will be met by the promoter.
To enter the raffle you need to be registered with Raffall. This can be done via Facebook or email login. Once at the house raffle page it's a case of answering a question and purchasing tickets. The question pops up in a window which we found disappeared very quickly. Tickets only cost £10 and there's no limit to the number you can purchase. You can purchase online using debit cards. No charity donations are indicated with this competition.
50,000 Ticket Sales
Neil Briggs aims to sell 50,000 tickets (total revenue £250,000) by the start of August 2021 in order to conclude the draw. If insufficient tickets are sold then the winners will receive a share of the compensation amounting to 75% of all ticket sales. All compensation payments are guaranteed and paid directly by Raffall Limited. Note that if 100% of the tickets are not sold then the promoter receives nothing.
As mentioned above we do wonder whether this is a clever way to get publicity for Inspired Sales and Lettings? Will we see more estate agents realise that Raffall is a low cost/no cost way of featuring properties on their books. Whilst the apartment in question here is in the rental potential bracket we do wonder whether the £5 ticket price is on the high side although the low ticket target may just balance that. The promoter does include ground rent and service charge costs but does omit how much could be earnt from renting out the property.
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