Win A Stockport House Review
Here's an opportunity to win a three bed semi-detached property in Stockport. As well as the home the winner will also receive £5000 cash. The prize could be yours for £5 and the competition is running on the Raffall platform.
Launched: 14th November 2020 Closes: 14th November 2021
Location: Stockport, SK3
House Value: £300000 (3 Bedrooms)
Ticket Price: £5.00 (Free Entry - See 5.6 in Terms)
Minimum Ticket Target: 90000
Tickets Sold: Unknown
Cash Alternative: 75% of ticket sales
This is an unusual win a home competition because the property currently has a sitting tenant. This means that the winner has the opportunity to start earning a monthly rental income from day 1. Of course that is all dependent on the property being won and the tenant remaining until after the closing date. There's also the issue of the winner perhaps having to give notice to the tenant in the future. All these little things add complications to the process. No details are given regarding rentals, location or property valuation though.
How To Enter The Competition
The house details are quite scant too. What we do know is that the property is a three bedroom semi with off road parking, 2 reception rooms & large rear garden. There are a few images on the website but we always like to see more. In terms of location the only details are that it's close to the train and bus stations. Information about fees, stamp duty and expenses are provided and they will be covered by the owner and so the winner will not have to pay a penny. Based on a quick search of Zoopla we've set the value to a generouse £300,000.
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. If all the tickets are sold then a £10,000 donation will be made and the money split between four different good causes.
90,000 Ticket Sales
The owner - only known as Stockport House Raffle - aims to sell 90,000 tickets (total revenue £450,000) by November 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.
There must have been 30 or so win a house competitions on Raffall by now, and still the same issues arise. Location, valuation and good information about the properties are lacking. Potential house rafflers need to think like estate agents and 'sell' the property. The presence of a tenant in this case is a pro and con depending on your viewpoint. A closing date of November 2021 seems a bit on the long side and it doesn't create urgency to purchase tickets. Hopefully the 90,000 target is attainable ina much shorter time frame.
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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