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Old 03-28-2008, 07:33 AM
 
Location: Hartford County, CT
98 posts, read 360,186 times
Reputation: 40

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Hi guys,

Just found the Real Estate forum

I'm at a loss as to how raffling one's house goes. Does anyone know the process well enough to walk me through it? I would really appreciate it.

Thank you,
paper doll.
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Old 03-28-2008, 10:37 AM
 
3,549 posts, read 7,453,336 times
Reputation: 2345
Be VERY careful. It is quite probably illegal under state law.. Generally only the state (via lotteries) and the Catholic Church are allowed to do this. What if you only sell 2 tickets? You would then be obligated to go through with the sale..

golfgod
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Old 03-28-2008, 11:07 AM
 
Location: Johns Creek, GA
16,066 posts, read 59,777,054 times
Reputation: 20512
Here's one idea- however, it didn't work out.
Home******* Essay Prize******* R (http://www.americandream-farmessaycontest.com/Index.htm - broken link)

There was another essay contest- I think it was in CO. but I couldn't find anything on it.
As far as the particulars are concerned, I'm sure an attorney (and his/her fees) can help you there.
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Old 03-28-2008, 12:30 PM
 
Location: Salem, OR
15,145 posts, read 37,655,880 times
Reputation: 16089
You need to be cautious. In most states holding a raffle is gambling, so it would be against the law. In Oregon we do have one exception and that is essay contests. If you google "Yachats home essay contest" you should get a hit on the one going on right now. They need like 3,000 entries and they aren't even close.

Anyway, there is an entire article in the local newspaper about how they did it. You do need to call the AG's office and find out about gambling laws in your state.
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Old 03-28-2008, 05:50 PM
 
Location: NJ
2,212 posts, read 6,757,483 times
Reputation: 2190
Ditto - it's gambling, and there are all sorts of legal implications. That's why all promotional competitions will always have that caveat - "No Purchase Necessary" so they can comply with the law. I guess you don't want to give the house away with free entries.
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Old 06-08-2008, 12:50 PM
 
2 posts, read 4,708 times
Reputation: 10
I am still researching the raffle laws in NJ but so far have found out that one needs to raffle a home through a non-profit organizatiton. Also, if not enough tickets are sold by a certain date then all of the money is rerfunded. That stipulation must appear on the ticket. There was a woman here in Willingbor who was raffling heer house on Ebay. Unfortunately I have not been able to learn the outcome of that raffle. bay cancelled the posting after 90 days and the drawing was to be held on May 1, 2008. Like I said, I don't know the outcome of that drawing or if it was even held. I am waiting to hear from the reporter who wrote the article in April. Hopefully he has done a follow up story.
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