House for $150

[HerT4R]

So ever since i heard about this i have been enthralled, and that was only a few hours ago, so i am still quite enthralled.
:wow: $150 for a chance to win a house???? :wow:

a man (a realtor) in houston has decided to sell his house via a contest. *another person did this in Maine earlier this year, i do not believe a "winner" has been announced yet though.*

$150 entry fee, accompanied by a 200 words or less essay as to why he should sell it to you...

what do you say? what would make someone want to give their house to you?

150house.com--> Owner's website about his house
Texas Monthly Article about this

 

[tigger]

Unless he got a permit, the state or IRS will probably shut him down. Someone in Oregon did this and they shut down the operation after he had collected thousands of dollars. It is illegal to run your own lottery.

Just beware that you may never see your money or a chance to actually win the house.

 

[1engineer]

Unless he got a permit, the state or IRS will probably shut him down. Someone in Oregon did this and they shut down the operation after he had collected thousands of dollars. It is illegal to run your own lottery.

Just beware that you may never see your money or a chance to actually win the house.

Sorry but the above is true.There are charities that do this all the time but usually for vehicles. We have one around here called the "Cadillac Club" and the proceeds go to the Shriner s Hospital or something but not an individual. In addition to that they usually sell enough tickets to pay for the car twice. If something sounds too good to be true it usually is.

 

[HerT4R]

Unless he got a permit, the state or IRS will probably shut him down. Someone in Oregon did this and they shut down the operation after he had collected thousands of dollars. It is illegal to run your own lottery.

Just beware that you may never see your money or a chance to actually win the house.

hmmmm... i tend to be very skeptical... this guy is a state licensed realtor and i believe this has to do with since there is a 200 word essay attached to the $150 entry fee that it makes it skill related (per law) and not luck related (like a lottery/raffle). at least the CNN article made it seem as such. the house would just show as being sold for $1 per the realtor/owner website information.

Sorry but the above is true.There are charities that do this all the time but usually for vehicles. We have one around here called the "Cadillac Club" and the proceeds go to the Shriner s Hospital or something but not an individual. In addition to that they usually sell enough tickets to pay for the car twice. If something sounds too good to be true it usually is.

what you mention is a raffle. i think what is distinguishing this from a raffle is the essay, which seems to make it a skill contest and not a luck contest.

an article from CBS moneywatch about "raffling" homes in TX may dispute this...

and who doesnt love some reddit commentary about this as well?

seems like this house looks nice on the inside but may have some major problems per the inspection report:

"It needs major foundation work. It needs a new main breaker (it's a 70 amp breaker in a 125 amp box). It needs new other breakers (the AC is on two non-tied 20 amp breakers). The AC is from 1989. The roof needs repair. There's water damage. There's a sump pump under the house that's coated in mud. The floors are out of level. There are white wires run as hot. The inspector didn't find a ground. There's wood rot. The garage isn't properly studded. There are not enough outlets."

to me winning for $150 would be worth it because then a loan could be taken to either demo/replace or repair, along with the pages and pages of permits that go along with that in the city of houston. but firs tyou have to win and it could be rigged from the start... decisions... decisions...

 

[HerT4R]

see earlier link to 150 House in the houston heights. he did not decide to let it go like that. didnt get enough money out of it. guess it wasnt for intrinsic value after all... selling it the traditional way before the end of summer.

:wof:

 

[LandCruiser]

Just say it's a Section 8 Obamalotto.