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The property is valued at £1million and selling 46,000 tickets at £25 each would raise £1,150,000. Deducted from that will be the £40,000 stamp duty, solicitor's costs and marketing - leaving the couple with the £1million value of their house.
The competition closes in December but if the ticket sales are near 46,000 there is an option to extend the deadline by up to eight weeks.If the total number of tickets aren't sold the lucky winner will win all the proceeds raised during the competition less set-up and running costs.
a house for £25?
Beat the housing market at it's own game and win a house for £25 - who needs estate agents anyway?
If you've ever fancied being a Lord or Lady of your own manor, and overseeing an 11.5 acre estate - why not try your luck at winning a house worth around £1million for £25? One man, despairing of plunging property prices, decided to be proactive and has started selling lottery tickets at £25 each for a chance to win his home, the stunning Oldborough Retreat. The estate comes with a five-bedroom house, four two-bedroom holiday lodges, 9.5 acres of woodland and a two-acre fishing lake.
According to Rightmove, house prices fell by 1.2 per cent in June and poor Brian Wilshaw felt the pinch to the tune of around £12,000. He has put tickets on sale for the lottery at www.winadevonpropertywithfishing.co.uk and the lucky winner will be handed the deeds to the entire estate, no strings attached.
Brian told the Daily Mail:
"We've had this idea for a number of years now. Everyone who came here on holiday used to say 'If I had the money I'd buy this place'. I would absolutely love to see the face of the person that wins it when they walk in because it's going to change their life."
With people selling houses by lottery, and one man even putting his entire life (home in Perth included) up for auction - is this going to be the way we all beat the housing slump, get houses for absolutely bargain prices and dospense with the need for estate agents? I doubt it. But what a bargain!
