Win A Whitley Bay Flat Review
A 2 bedroom flat with loft conversion in the North East is the prize that you could win in this competition. As we understand it there will also be £2500 cash prizes for the winner and a runner-up. Hosted on the Raffall platform tickets cost just £2 each.
Launched: 1st March 2021 Closes: 1st March 2022
Location: Seaton Delaval, Whitley Bay, NE25
House Value: £90000 (2 Bedrooms)
Ticket Price: £2.00
Minimum Ticket Target: 70000
Tickets Sold: Unknown
Cash Alternative: 75% of ticket sales
Stuart Robinson is looking to raffle his apartment in Whitley Bay in order to get a deposit for a house for him, his partner and children. The property description reads like an estate agent has written it and sure enough - after a Google search - we found the property up for sale via Prime Location. With this information we know the property valuation is just under £90,000. We're not sure how the promoter has reached a "total prize value of over £145,000" as suggested on the Raffall page.
How To Enter The Competition
The property itself has been refurbished and boasts two bedrooms as well as an attic conversion. A new boiler heating system has been installed whilst outside there's a low maintenance yard. The images of the inside of the property look pretty good and the flat could be ideal for rental purposes. All legal fees and stamp duty paid will be paid by the host. Plus it seems that they will also pay out two cash prizes of £2500 to the winner and a runner-up.
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 £2 and there's no limit to the number you can purchase. You can purchase online using debit cards. As far as we're aware no charity donations are being made in this particular draw.
70,000 Ticket Sales
Robinson aims to sell 70,000 tickets (total revenue £140,000) by the start of March 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.
This is a nice looking apartment in Whitley Bay and at £2 a ticket may attract interest in The North East. The prize valuation given by the promoter is a bit confusing. If all tickets sell then that's £140K in revenue - but Raffall take 10% - so the prize pot becomes £126K. That's almost £20K less than the £145K suggested! The fact the property is also on the open market can be seen as some as an issue. It may well get purchased over the 12 months of the competition but at least a cash prize will then be awarded.
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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