Man Selling £400,000 House In £2 Ticket Raffle After Struggling To Secure Buyer

A man from London has put his £400,000 ($495,134) house up for sale in a £2 ($2.48) per ticket raffle.

Daniel Twenefour, who you can see discussing the raffle in the clip above, previously put the Mitcham property on the market in the standard fashion and received a few offers, however, these sales fell through for various reasons, and he tried to auction it off instead.

Speaking to The Wimbledon Times, he said: "There were other buyers who showed interest but it went back and forth for too long.

"I had a few different excuses from the agent; the location of the property, Brexit, bad timing on the market.

"After a little while I took it off the market and put it in an auction where it sold but didn't meet my reserve price - I would have been left in debt if I accepted what it sold for."

Keen to secure the sale - which was impeded further by the coronavirus pandemic - Daniel decided to sell his house in a raffle.

This may seem like a bizarre move, with raffles traditionally reserved for less valuable assets such as meat hampers and massive cuddly toys, but house raffling has been kicking about for a few years now.

Explaining how it works, Daniel told Metro: "It's no surprise that the coronavirus has brought the UK housing market to a grinding halt, however after some thought I realised that I didn't need a housing market per se, I just needed to reach people who wanted the chance to own a London home, totally mortgage-free.

"The concept is a simple but powerful one. Each ticket will be sold for £2, which is then entered into a competition draw. The competition will be open for a limited time and once it closes, the winning ticket will be chosen by a random number generator, in the presence of a solicitor.

"The winner gets to be the new mortgage-free owner of 6 Tramway Path in Mitcham."

Not seeming so daft now, is it?

The end-of-terrace three-bedroom property has been recently renovated by Daniel, but he decided to sell up as he wants to move somewhere a little quieter, with the house located directly opposite Mitcham tram stop and within close proximity to Morden Tube station on the Northern line.

Daniel said: "We decided that we wanted to move slightly further out to the quieter more family-oriented area of Purley.

"Living at Tramway Path was a bit busy. It's across the road from a tram stop that can get you into Zone 1 in about 35 minutes. Its also off a fairly busy main road. The location is great for a commuter or a family with older children."

The prize draw will take place on 31 May. You can find out more or buy a ticket here.

Featured Image Credit: Instagram/Tramway Path

Topics: UK News, House

Jake Massey

Jake Massey is a journalist at LADbible. He graduated from Newcastle University, where he learnt a bit about media and a lot about living without heating. After spending a few years in Australia and New Zealand, Jake secured a role at an obscure radio station in Norwich, inadvertently becoming a real-life Alan Partridge in the process. From there, Jake became a reporter at the Eastern Daily Press. Jake enjoys playing football, listening to music and writing about himself in the third person.

@jakesmassey