Omaze £3.2 Million House

[pastafreak]

What's the point...or benefit...in winning a house of this value if you can't afford the upkeep and council tax?
I remember reading about low income folk in the States winning home makeovers but getting into financial trouble because they could no longer afford their own homes.

[jno]

they can sell them?

[bednobs]

sell it

[bednobs]

or rent it out

[pastafreak]

That's certainly what I would do. Just wondered about those who may not think of the financial obligations.

[LadyCG]

That house will be gone in a few years when the cliff recedes. I bet it's unsellable.

[Vagus]

Sell it, get what you can before it becomes unsaleable, and enjoy the proceeds. Easy peasy.
What do you mean pasta..the financial obligations?

[bednobs]

or just have fun in it for a few years

[pastafreak]

Vagus...council/property taxes...and any other costs whether they rent it out or live in it themselves.
If someone lives in/rents a flat how likely are they to have the necessary income?
The current Omaze house is in Wimbledon and worth 3.5 million.

[Sqad]

pasta.......if you win it,don't worry as I will buy it off you for £500,000 cash and I will pay all the legal fees.

Deal?

[eve1974]

I’ve entered this comp.

I figure I’d sell it- even for a big reduction in price it’d still be a hefty wedge

[eve1974]

^^^^^but sqads offer may be a tad too low

[bednobs]

well i suppose the answer is, no one is forcing anyone to enter

[Sqad]

eve.....that's my offer...-;)

[eve1974]

Have you entered pasta?

[pastafreak]

I've not entered. It always seems a bit "dodgy". So, sorry sqad. Not this time ;)

[THECORBYLOON]

From their website,

"It is expected that approximately £500,000 will be raised for the charity, which would mean Omaze being paid £125,000. Irrespective of sales, Omaze has guaranteed a minimum total payment of £100,000 for the charity. No purchase necessary."

If they expect to raise £500,000, why do they not just flog the house as, "it’s no wonder that a recent valuation of the house came in at over £3,500,000."?

[brainiac]

How on earth do Omaze afford to buy the house (and there's an expensive car as well) and pay for expensive TV adverts? There surely can't be that many paying to enter, can there?

[rowanwitch]

Depends what part of Wimbledon it's in..... The village or the common, nice. The rest not so.

[jno]

Sqad's offer looks pretty good to me. If as people are arguing the whole thing is going to start falling off a cliff in 10 years or so, it won't be worth 50p.

[davebro]

I presume the house (and car) were bought previously so they hope to raise something in excess of £4.2 million in the raffle?