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.
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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