I Sold My House In a Raffle: A Proven Step-by-step Method to Get Your Asking Price, Save Money, Save Time, & Help a Charity too!

I Sold My House In a Raffle: A Proven Step-by-step Method to Get Your Asking Price, Save Money, Save Time, & Help a Charity too!

by Diane Giraudo McDermott, Rick Frishman, John Kremer

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Overview

If you’re a home seller wishing to skip the conventional process of listing your home and waiting for a qualified buyer, and you’ve always wanted to be “rich enough” to help your favorite charity in a big way, your time has come. I Sold My House in a Raffle explains the entire process for homeowners, realtors, and also for the nonprofit director who is open to an innovative fundraising alternative that can provide a sizeable chunk of cash to support the charity. Diane Giraudo McDermott, an advocate of animal rights, couldn’t match the incentives building developers were offering home buyers, and buyers interested in her property couldn’t qualify for a loan; so she used her marketing background and partnered with a “no-kill” animal shelter and successfully sold her house in a raffle. Inside, you’ll learn how to utilize the best marketing techniques, create a winning raffle formula, complete the required paperwork, connect with the right charity, and reduce your risk. Take charge of your real estate future--save thousands of dollars, save time waiting for that qualified buyer, and get your full asking price!  This is a method whose time has come, and it can work for you too.

Product Details

ISBN-13: 9781600378980
Publisher: Morgan James Publishing
Publication date: 06/01/2010
Sold by: Barnes & Noble
Format: NOOK Book
Pages: 200
File size: 2 MB

About the Author

Diane Giraudo McDermott is a native of Albuquerque, New Mexico.  She graduated from the University of New Mexico with a Bachelor of Science degree in Education.  After teaching in the public schools for several years in New Mexico and California, she moved into sales and marketing— focusing on print media advertising.  In 1983 she purchased her first piece of real estate in California.  Currently, Diane is the president and owner of DGM Solutions, Inc., a real estate investment company that purchases foreclosure and tax auction properties to hold or remodel and re-sell.  She owns real estate in New Mexico, California, and Oregon.  Diane is a member of two real estate groups, Invest in Debt and ABQ Congress on Real Estate (ACRE).  The primary focus of these groups is to provide solid knowledgeable education and networking for real estate investors.  Throughout her life, Diane has always been a creative problem solver and an advocate of animal rights.  In 2009, she organized and managed the sale of a house through a raffle benefiting a no-kill animal shelter and she has since consulted on several house raffles.  She also offers workshops for homeowners, real estate agents, and fundraising directors of nonprofit organizations on the subject of house raffles.  Diane’s personal goal is to continuously support America’s no-kill animal shelters—“Domesticated animals are innocent and completely subject to the choices man has made for them. I see them as a wonderful expression of an idea that started in the mind of God. I believe we owe them compassionate care.”

Table of Contents

My Story 1

Introduction 3

Step 1 Understanding the Basics 5

Two Ways to Sell Your House in a Raffle 5

Working With a Real Estate Agent 6

Raffle Laws 6

How to Read This Book 7

Step 2 The Grand Prize 9

Is My Home in a Desirable Area? 9

Will My Home Appeal to the General Public? 10

Is My Home Located in a Well-Populated Area? 10

Can I Wait 6 Months to Sell My Home? 11

How Do I Handle Encumbrances? 11

Delinquent Property Taxes 11

A Contractor's Lien 12

Bank Foreclosure 13

A Final Note Regarding the Grand Prize 14

Step 3 Creating a Winning Raffle Formula 15

The Home Sale Price 15

The Home Sale Date 16

How Many Winners Do You Want? 17

How Much Do the Tickets Cost? 18

Calculating the Number of Tickets to Sell 18

Step 4 Stop and Evaluate 23

Step 5 Searching For the Right Charity 25

Six Possible Charities 25

Likeable Charities 26

Strong Charities 27

Which Charity Is Best? 28

Step 6 Meeting With the Charity 31

Making the Phone Call 31

Wrapping Up the Call 32

Organizing the Meeting Details 32

At the Meeting 33

Setting the Stage 33

Benefits to the Charity 34

Reviewing Your Handouts 34

Resources to Succeed 34

Marketing Considerations 35

Closing the Meeting 36

Double-Checking 37

Step 7 Hey Everybody, There's a Raffle! 39

Marketing Expenses 40

Marketing Options 40

Print Media 40

Fliers 40

Posters 42

Newsletter and Mailings to Supporters 42

Press Releases 42

Newspaper Advertising 43

Newspaper Stories 43

Billboards 43

Broadcast Media 44

TV Commercial 44

Radio Commercial 44

Media Interviews 45

Electronic Media 46

E-mail 46

Blogs 46

Online Advertising 47

Other 48

Chamber of Commerce 48

Santa Claus 49

Let's Dance 49

Charity Dinner 49

Celebrity Guest 50

Open Houses 50

Step 8 Follow-up Meeting with the Charity 53

Charity's Marketing Plan 53

Expenses 54

Home Seller's Involvement 54

Finalize the Ticket Sale Formula 55

Drawing Date Extension 55

Escrow Holding Account 56

Ticket Sales Start Date 57

Raffle Rules and Restrictions 57

Step 9 Sealing the Deal 59

Sign a Purchase Agreement 59

Purchase price 60

Earnest Money 60

Settlement Signing Date 60

Closing Costs 60

Home Warranty 61

Inspections 61

Raffle Contingency Addendum 61

Escrow Holding Account Addendum 62

Lead-Based Paint Addendum 62

Extending the Drawing Date 62

Sign a Win-a-House Raffle Agreement 63

Register the Raffle 64

Step 10 The Ticket Sale System 67

The Process 67

Entry Form Particulars 67

Thank-You-For-Participating Letter 69

The Look of the Ticket 70

Raffle Website 71

Places to Buy Tickets 73

Fliers with Entry Form 73

Keeping Track? 74

Raffle Hot-Line? 74

Step 11 Oops! He's Not Fat Enough! 77

Extending the Drawing Date 77

Step 12 Pushing Ticket Sales - The Open House 81

Let the Public Know About Your Open House 81

Open House Flier 82

Press Releases 82

Newspaper Advertisement 82

Open House Signs 83

At the Prize Home 87

Inside the Prize Home 88

So Here It Goes! 88

Before Visitors Leave 90

Closing Up the Open House 91

Step 13 Preparing for the Drawing 93

Address Their Concerns 93

Finding a Drawing Location 94

Helpers Needed 95

Items Needed 95

Step 14 Holding the Drawing 99

Announcements 99

The Drawing Procedure 102

Notifying the Winners 103

Step 15 Claim-Your-Prize Appointment 105

Paperwork 105

Coming Up With That Tax Money 106

Purchase Agreement for the Grand Prize 107

Step 16 Awarding the Prizes 109

When the Grand Prize Winner Takes the Prize Home 109

When the Grand Prize Winner Takes the Cash 112

When Prize Winners Are Disqualified or Fail to Claim the Prize 113

Finished! 115

Appendices 117

Appendix A Basics of a House Raffle 119

Appendix B Raffle Rules and Restrictions 120

Appendix C Sample Purchase Agreement Real Estate 127

Appendix D Blank Purchase Agreement Real Estate 142

Appendix E Page from a Property Disclosure Statement 157

Appendix F Lead-Based Paint Addendum 158

Appendix G Win-a-House Raffle Agreement 161

Appendix H Entry Form Without a Credit Card Machine 164

Appendix I Entry Form With a Credit Card Machine 165

Appendix J Ticket Sales Log Sheet 166

Appendix K General Raffle Flier 167

Appendix L Open House Flier 168

Appendix M Certificate of Winning 169

Appendix N Winner Instruction Sheet 170

Appendix O Winner Affidavit of Eligibility 171

Appendix P Winner Purchase Agreement Addendum 173

Appendix Q Internal Revenue Service Notice 174

Appendix R Grand Prize Acceptance Statement 177

Resources 179

Acknowledgements 181

About the Author 183

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