With the current housing market taking a slide downward and those that are looking to sell their homes becoming more and more anxious to find a buyer, they are turning towards more unconventional and creative means. Some home owners are now beginning to sell their homes through a raffle instead of continuing to let it sit on the market.
Partner with a non-profit group. This is a requirement in every state if you choose to raffle your home. Choosing the non-profit may be a bit tricky as you will want to make sure it is a group that can handle such a raffle. Check www.usahomeraffle.com if you are looking for a non-profit organization or looking for homes that are being raffled.
Set up a website. This is a crucial step before going "live" with the raffle. You need to be able to accept online credit card transactions securely and must have a permit to do so.
Market your raffle and get the word out. Reaching beyond your community and state would bring in many more ticket sales for your raffle. Posters, newspaper ads and Craigslist are among a few ways to spread the word. Ebay, Myspace and Twitter are now being used to spread the news of home raffles as well.
The non-profit organization will usually be directly involved with the actual drawing. Along with a realtor and/or lawyer, you will be able to sign and make a closing shortly thereafter.
Not all homes receive the amount of ticket sales required to complete the raffle. In this case the ticket buyers are refunded all or a large portion of their purchasing price. This must be disclosed prior to their ticket(s) purchase