We all read the news. We know the stock market is struggling. Likely, if you read this blog, you are more concerned with the Phoenix AZ real estate market. And, for the most part Phoenix AZ real estate and Scottsdale Real estate is selling, but slowly.
It is a challenge for homeowners to sell a home at fair market value as sellers are (in most places) competing with short sales, foreclosures and bank owned homes (REO). These types of listings are priced at significant discount to resale market prices as a net amount a sale is less important to banks and short sale listings.
As a result, if you really want to sell a home in most parts of Phoenix AZ, Peoria AZ, Chandler AZ, Gilbert AZ and Glendale AZ, you need to price your Phoenix AZ real estate near the price of neighboring REO’s and Phoenix short sales.
There is a growing trend that I have been hearing more and more of and wanted to offer it as a solution to selling your home at a fair price and relatively quickly.
It is called a Home Lottery or Home Raffle. Here’s how it works.
* Let’s say you own a home in Gilbert AZ
* You want to sell your home at $250K * You do not want to pay a Gilbert AZ real estate agent to list the home.
* You do not want to pay a Phoenix AZ real estate agent to bring a buyer * Hold a raffle. (please see your local guidelines about the legal requirement for non-profit organizations to conduct the raffle)
* Non-profit should conduct/Advertise raffle or lottery tickets at $100. * Offer that $10/each ticket goes to a local charity * Receive some radio and other advertising for free as a result
* Sell 3,000 tickets for a total of $300K. * One lucky winner, will own the Gilbert AZ home , ‘dream home’ for only $100. Not bad, right ?
* And you get to help donate $30,000 to charity while you sell your home at at a ‘dream price’.
Q: Is it legal ?? IMPORTANTLY, I am NOT an attorney. I do not know the laws in your area, jurisdiction or state. Although, each state has different laws,
I have been told by Ser Greene at USA Home Raffle , one of the leaders in helping conduct Home Raffles , that these raffles must be held by Non-Profit organization. Otherwise, as stated above, they would be illegal.
Make sure you speak with local governments about raffle, sweepstakes and lottery laws as such a priced item may require certain guidelines and registration. I wish you the best of luck and happy selling!!
Contact your bank a real estate professional to help you through the process.
Make sure you work with a Phoenix Realtor or Scottsdale Real Estate agent who is experienced with auctions and lottery sales.
————————————————————————————
Copyright © James Wexler *Hold a Raffle to sell your home!*
If you are listing your home as a short sale in Phoenix Arizona or Scottsdale Arizona make sure you hire an agent who knows how to do short sales and has the experience to get the job done. Call 480.221.8080 to find out more about Phoenix AZ Short Sales and Scottsdale AZ short Sales
;)
;)
Have you seen these done successfully in your area? Though I've heard of the concept before, I have not seen any first-hand accounts of it being done.