Selling your house privetaly by using lottery style methods

saminialzara

Hi everyone,
does any one have an idea if we can sell our house by using a lottery style method. Is it legal and feasible to do so and what are the pitfalls, if any.
Thank you all, in advance, for any ideas or comments.:idea: :idea:

System

http://www.gamblingcommission.gov.uk/frequently_asked_questions_fa/lotteries_and_fundraising/can_i_sell_my_home_for_my_own.aspx

saminialzara

Thank you. I have looked at this site but found it a little confusing....

edinburgher

If you're struggling to sell, chances are there's a reason.

Possible reasons might include you being unrealistic re. price, your area isn't one where people are looking to buy, the property might need a bit of work?

It's probably worth considering these and speaking to an estate agent or 3 before coming up with wacky schemes

System

Basically you need to obtain a licence under the Gambling Act 2005 to run a lottery and then abide by the licence rules when you run it.

What do you plan to do if for example only 100 people buy the tickets?

Having looked at the licence conditions and code of practice for running a lottery then I am not sure that an individual could get a licence to sell their home in this manner