House Lottery
REM #F779
By Ilyce R. Glink
Summary: House lotteries are illegal in most states. This ThinkGlink reader is contemplating a lottery ad for a hard-to-sell Florida home.
Q: Some time ago, I wrote a letter to you asking your opinion about selling
our property in Florida. Since the real estate market is down, I would like
to sell it on a "Lottery" system.
My idea is to sell it with an ad that says: "Own this home (furnished) for only $500." I would sell 400 tickets but each entry must be accompanied with an essay of 100 words on a subject like "What life means to me". The essays would be read by three responsible people and they will select the best essay as the winner. Do you see any problem with this idea?
Since I do not have access to a computer, I am using my daughter’s. A response would be greatly appreciated. Thank you.
A: I'm sorry that you're having trouble selling your property. Unfortunately,
selling a house by lottery is illegal in almost all states. Some states allow
lotteries of homes but these lotteries are generally organized by churches where
the proceeds of the sale benefit the charitable organization. For further details
on what is permitted, please contact the state of Florida.
NOTE: Ilyce R. Glink's latest ebooks are "Credit Scoring Secrets" and "How to Find a Great Real Estate Agent," which are available at her website, www.thinkglink.com.If you have questions, you can call her radio show toll-free (800-972-8255) any Sunday, from 11a-1p EST. You can also write to Real Estate Matters Syndicate, PO Box 366, Glencoe, IL 60022 or contact her through her website, www.thinkglink.com © 2007 by Ilyce R. Glink. Distributed by Tribune Media Services
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