Savannah Area Real Estate Corner

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Creatively Writing Your Way into a House

WritingA couple in New Mexico have decided to give their house away. Yes, that's right! If you can't sell it, you give it away. But wait, there's a catch. If you want their house, you have to enter a writing contest for it! They are charging each entry $100 and areFree Home to Winner requiring 2,500 entries before they will decide a winner.

 

 

So after they make $250,000 on their home, they will give it away. Not a bad idea. However, officials are determining whether or not this is legal. They have said that they will refund entry money if the required number of entries is not reached.  

 

In most markets, it does require out of the box thinking to get your home sold. With all the latest ideas, what could possibly be next. We've had the free house if you take care of the owners, free house if the owner dies within 10 years after the sale, and now a free house to the winner of a writing contest.  

13 comments • Christy Powers - Pooler, Savannah Real Estate Agent • April 20 2008 09:35PM

Comments

Someone in my area tried to do this with a restaurant that they were closing.  They ended up having to refund the money, because they didn't get enough entries.
Posted by Pam Dent - REALTOR Charlottesville Virginia Homes and Horse Farms (Montague Miller & Company) about 4 years ago

Well,that is one way to get what you want out of the house.  I have heard this before.  There was movie about someone doing this to give away a b&b

Posted by Dave Woodson (Dave Woodson) about 4 years ago
Whatever floats your boat.  All sorts of raffle schemes have been tried here in SW Florida, most of which incurred the wrath of the state's attorney, since raffles are ostensibly illegal.  I'd like to see someone succeed at one of these programs.
JimG
Posted by Cape Coral Florida Golf Course and Waterfront Homes (Gulf Coast Realty Network, Inc.) about 4 years ago
Well if it works...This idea was going around a couple of years ago....didn't work very well then, now?
Posted by William Feela Realtor 651-674-5999 No. Branch,MN (WHISPERING PINES REALTY) about 4 years ago
Even if it doesn't work, it may get the word out that his home is for sale.  I would like to be that listing agent.
Posted by Virginia Hepp - Mesquite NV MLS - Sun City Mesquite - 55+ Buyer Representative (ERA - Mesquite NV Homes For Sale) about 4 years ago
Sounds like a creative way to move on from your home. Maybe they could change the terms of the contest to allow part of the proceeds go to a charity. Just a thought
Posted by Daniel Seider (Big Trees Real Estate) about 4 years ago

Pam: I am thinking this will happen here as well.

Dave: This was a first time hearing of it for me. It's creative.

Jim: Yeah, they have to see if they are allowed. It might be called a game of skill.

William: May be this is the perfect time for it, but I don't know.

Virginia: It may just do that. I think it hit a lot of newspapers. It was in our paper.

Daniel: It does sound creative. If they donated some to charity, they might get the entries they need.  

Posted by Christy Powers - Pooler, Savannah Real Estate Agent (Keller Williams Coastal Area Partners) about 4 years ago
Very creative...but I also heard, as Pam did, that many times sellers have to give back the money because they didn't get enough entries.  So is it a raffle - or do they really pick the best story?
Posted by Bo Buchanan-Blue60.com Directory For Real Estate Pro's (Blue60.com) about 4 years ago
They are supposed to pick the best story. They have said they have a panel of judges.
Posted by Christy Powers - Pooler, Savannah Real Estate Agent (Keller Williams Coastal Area Partners) about 4 years ago
I simply cannot imagine how desperate a family must be to try to unloqe their family in this fashion. However, one would think that the home, properly priced, would have sold using standard terms.
Posted by Vickie Nagy, 925-407-7987 Broker for San Ramon, Danville, Dublin, Pleasanton (Vickie Nagy, Broker Associate BMC Real Estate DRE#01363932) about 4 years ago

WHOA...there are seller contribution, owner carrys, lease-to-own...but this has GOT to be the most creative seller idea I've seen.

Posted by Joey Aszterbaum (Jolynne Photography) about 4 years ago
That is very funny.   I cant imagine them actually reading all 2500 of them. Maybe they would...but yes, maybe it would be legal in Idaho.
Posted by Utah Dave and Utah Homes for Sale (Robison & Company Real Estate) about 4 years ago
Christy, kind of sounds like a gimmick, where free is not really free, plus all the entry fees will be income to them and taxable. It sounds legal. I wonder if they can get the 2500. That's a large number.
Posted by Gary Woltal - Assoc. Broker REALTOR® SFR Dallas Ft. Worth (Keller Williams Realty) about 4 years ago

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