Proverbial Dumb Question- forgive my ignorance - Posted by Richard

Posted by Heather_Tx on July 29, 2003 at 15:30:34:

What a nice response. Weither the idea would work or not, he is thinking creatively at least. I think that was a very rude response, and one not called for.

My 2 cents And some change
Heather_Tx

Proverbial Dumb Question- forgive my ignorance - Posted by Richard

Posted by Richard on July 29, 2003 at 13:37:47:

I would like to know if I could try to sell a home by raffle. In my mind I see two scenarios ,1 - not ever selling enough tickets and loosing bigtime or, 2 - making a killing. So is there a way to do it by raffle with some safe guards against the first case scenario? What are the rules to how raffles work?

Re: Proverbial Dumb Question- forgive my ignorance - Posted by Mike G

Posted by Mike G on July 30, 2003 at 17:00:56:

Unless you are operating as a charitable organization or a state-licensed gaming entity, I doubt you’ll be able to “raffle” your house off legally. However, I’ve heard of some who have gotten around this by calling it something else (i.e. an essay contest on why the applicant deserves your house for the price of their entry fee, etc.) which may not fall under the same restrictions.

I’d check w/ a good lawyer.

Mike G

Risk, real or not… - Posted by Eric C

Posted by Eric C on July 29, 2003 at 20:35:20:

Hi Richard -

This has been discussed before and without going into the details of whether or not it’s legal or not, check this thread:

http://www.creonline.com/wwwboard/messages/arc_1999//oct99/45624.html

Enjoy.

Eric C

PS - by the way, the odds in my State lotto (Texas) is now about 28 mil to one – its increased considerably since the original post was written.

Re: Proverbial Dumb Question- forgive my ignorance - Posted by Bill H

Posted by Bill H on July 29, 2003 at 17:55:03:

Richard:

Read all the replies to your post. I agree that you got slammed for no reason…but then…life is not always fair and easy.

Brent_IL gave the best reply. Most homes that I have seen raffled are by non-profit or fund raising entities. Like Brent said…check to see if it is legal…lots of states consider any kind or raffle as a form of gambling and are dead set against is except as mentioned above.

If you can clear the legal bit…Go Fo It!..Keep us posted as to how you make out.

Good Luck

====>bill

Re: Proverbial Dumb Question- forgive my ignorance - Posted by Brent_IL

Posted by Brent_IL on July 29, 2003 at 13:59:27:

The answer to #1 is to set a minimum. The immediate question is can you do that legally? There are many laws that apply to raffles. I’d call up one of the companies that give away cars or new construction in shopping malls and ask for a referral to their lawyer.

Once you know how the tickets will be distributed, set the date for the drawing far enough into the future so that you are assured of selling the amount of tickets you need. Don’t forget that the folks marketing the tickets have to be compensated if you want them to actively encourage sales.

Re: Proverbial Dumb Question- forgive my ignorance - Posted by steve mitchell

Posted by steve mitchell on July 29, 2003 at 13:55:06:

You are the dumbest person on this site, a raffle? You have to be kidding me. What if you only sold 10 tickets, then your house is gone and you made 10 bucks,

Re: Proverbial Dumb Question- forgive my ignorance - Posted by Tom-FL

Posted by Tom-FL on July 29, 2003 at 18:54:53:

>> What if you only sold 10 tickets, then your house is gone and you made 10 bucks,

Interesting. Exactly how did you divine that the tickets would sell for one dollar each? I didn’t read that anywhere. You must be a billionaire by now if you can read minds like that.

Re: Proverbial Dumb Question- forgive my ignorance - Posted by js-Indianapolis

Posted by js-Indianapolis on July 29, 2003 at 16:19:02:

Steve, how could he be the dumbest, when you have put in so much effort for the coveted award? There was a house that sold on EBay via raffle. The story was posted here a while back. The numbers were discussed at length, and it was figured out that owners stood to make an absolute killing off the place. Well beyond market value.

Nice try on slamming someone though. You had so much to gain by doing so as well. Congrats.