Win A London Flat - Cash Winner
A 2 bedroom flat on the outskirts of London is the prize that you could win in this competition. Tickets to try and win this property in Borehamwood cost £5 each. The competition is being hosted on the popular Raffall platform.
Winner: Rossana Vera
Launched: 26th April 2021 Closed: 21st September 2021
Location: Borehamwood, WD6
House Value: £380000 (2 Bedrooms)
Ticket Price: £5.00 (Free Entry - See 5.6 in Terms)
Tickets Sold: 994 Revenue: £4970 (Estimated)
Cash Alternative: 75% of ticket sales
Danielle Halliday is the latest home owner to see if they can create a home winner via a Raffall competition. She has put her flat in Borehamwood on offer with the aim to also raise some funds for CLIC Sargent Cancer Care for Children. Unusually for a Raffall listing the promoter has included a valuation - £380,000. The property itself is located at Franklin Court which is a "a collection of one, two and three-bedroom apartments and duplexes". A two bedroom flat that's on the open market is currently under offer and is valued at £375,000. For winners who may belooking to sell on this is useful to know.
About The Property
The property has two bedrooms, one bathroom and an open plan kitchen and front room plus a balcony. There's a communal garden and underground secure parking. In terms of locality to London the owners say that it is 25 minutes from Kings Cross Station. The local stations of Elstree and Borehamwood and just over half a mile away. The apartment is leasehold - although the length of term is not stated - and the property will be unfurnished. No details are given about the service charge costs. As far as we're aware all taxes and fees will be covered by the hosts.
How To Enter The Competition
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 £5 and there's no limit to the number you can purchase. You can purchase online using debit cards. The charity CLIC Sargent Cancer Care for Children is being supported with this raffle and 10% of the host's fee will be donated - but only if the property is won!
200,000 Ticket Sales
Halliday aims to sell 200,000 tickets (total revenue £1million) by the end of April 2022 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. If the property is won then 10% of the fee is paid to Raffall.
Whilst it's nice to finally see a valuation on a Raffall listing in this case it goes against the hosts and seasoned win a house watchers will know why. A £1million revenue target for a £380,000 property is very very high - even accounting for fees and any marketing the owners may do. Although this particular competition will run for 12 months we'd still be surprised to see if complete. This is a shame as the property has a lot of potential in terms of rental or could be easily sold on.
Disclaimer: Details shown above were correct at time of writing and are provided for information purposes only. Images are used under fair use policy. Map location is approximated by Google based on postcode/location info. Any links provided are not an endorsement from Loquax. In some cases Loquax may earn a referral fee from sales this does not effect our review. We strongly advise all visitors do due diligence on each contest before deciding to enter. Terms and conditions apply. Begambleaware.org.
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