Omaze, win a house??

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Discussion

Andeh1

Original Poster:

7,108 posts

206 months

Thursday 8th April 2021
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The adverts for it seems to be everywhere, and a mate brought it up yesterday as well. Few rumours were discussed around it...

I gather it's a house that didn't sell, occupants are now working with a company to raffle it off? Is that even remotely correct?

Apparently though they did it a couple of times before, but didn't sell... And this time round have postponed the draw by a couple of months? (drum up more tickets?)


andharri

166 posts

158 months

Thursday 8th April 2021
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I can't find the link right now (I am sure someone will!) but I believe it's house in the Cotswolds that flooded quite badly last year.

Apparently it's all fixed up now!

I am sure Omaze has the same pitfalls as all these house raffles

JonnyWhitters

754 posts

82 months

Thursday 8th April 2021
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Yep, not a great bit of publicity with the pictures of that stream flooding the outside and apparently getting into the ground floor too.

I thought this was scheduled for Feb or so then realised it had been bumped back a bit.

Not their best effort to shift a high value prize I’m sure.

Edited by JonnyWhitters on Thursday 8th April 19:48

sherman

13,203 posts

215 months

Thursday 8th April 2021
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If I was to be daft enough to enter and actually won the house. I would sell it imediatley and use whatever money I make on it to buy somewhere I actually wanted to stay.
I would keep the aston martin that they were offering though.

KingNothing

3,168 posts

153 months

Thursday 8th April 2021
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Loads of people comment on the facebook posts, don't know whats true though, some people say that it couldn't be sold with a mortgage and had to be a cash sale due to flood risk, omaze say the flooding was a one off and has been rectified.

https://www.thisismoney.co.uk/money/news/article-9...

That shows the last flooding at the end of last year.

This is the site before the house was built, about 7 seconds in.

https://www.youtube.com/watch?v=tWGflSVsY44

Your Dad

1,933 posts

183 months

Thursday 8th April 2021
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This vid, all 2 seconds of it, shows the house you can win complete with flooding:

https://www.youtube.com/watch?v=sVM8IBUJsQ8

AyBee

10,533 posts

202 months

Thursday 8th April 2021
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sherman said:
If I was to be daft enough to enter and actually won the house. I would sell it imediatley and use whatever money I make on it to buy somewhere I actually wanted to stay.
I would keep the aston martin that they were offering though.
Looks like you wouldn't be able to sell it to anyone who needed a mortgage! How much to build a moat?

bobtail4x4

3,715 posts

109 months

Thursday 8th April 2021
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its got one

sherman

13,203 posts

215 months

Thursday 8th April 2021
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AyBee said:
Looks like you wouldn't be able to sell it to anyone who needed a mortgage! How much to build a moat?
Even if you sold it for £1m you would still be considerably up.

MitchT

15,850 posts

209 months

Saturday 1st January 2022
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Just looking at their latest offering in the Lake District...

https://omaze.co.uk/pages/lake-district

Absolutely love it but there's no garaging and I dread to think what the combined council tax and energy bills would be - more than my net income probably!

If you won one of these houses and sold it would have you have to pay CGT on the difference between the cost of your competition entry and the sale price of the house?

Blakeatron

2,514 posts

173 months

Saturday 1st January 2022
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MitchT said:
Just looking at their latest offering in the Lake District...

https://omaze.co.uk/pages/lake-district

Absolutely love it but there's no garaging and I dread to think what the combined council tax and energy bills would be - more than my net income probably!
Weve done some work for that house!
There is a cap on council tax, i dont imagine the running costs to be to terrible - less than £800 per month

talksthetorque

10,815 posts

135 months

Saturday 1st January 2022
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MitchT said:
Just looking at their latest offering in the Lake District...

https://omaze.co.uk/pages/lake-district

Absolutely love it but there's no garaging and I dread to think what the combined council tax and energy bills would be - more than my net income probably!

If you won one of these houses and sold it would have you have to pay CGT on the difference between the cost of your competition entry and the sale price of the house?
No, between the value when youo won it and sold it.
Competition prizes are not taxed unless they are won as part of your "job", eg an athlete's winnings or if you won the Architect/refuse operative of the year award and there was a cash sum.


Terminator X

15,031 posts

204 months

Saturday 1st January 2022
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Feels like it has been "on sale" for years though. Does anyone ever win their houses?

TX.

MitchT

15,850 posts

209 months

Saturday 8th January 2022
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Terminator X said:
Feels like it has been "on sale" for years though. Does anyone ever win their houses?

TX.
It was listed on Rightmove in 2019 for £1,750,000.

https://www.rightmove.co.uk/properties/83293547#/?...

Sold in 2020 for £1,525,000.

Looks like the gym, sauna, outdoor covered seating area and conversion from garage to media room have happened since. Possibly the work mentioned above by Blakeatron.

Omaze are valuing it at £3m. While the work undertaken will undoubtedly have added value, and there has been some significant house price inflation since it last sold, I think £3m is still on the optimistic side.

jakesmith

9,461 posts

171 months

Saturday 8th January 2022
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It’s a stunning house but the length of the competition and likely odds make playing unappealing

croyde

22,853 posts

230 months

Saturday 8th January 2022
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I entered the Wimbledon house one about a month before the tennis. Was hoping that I'd be moving in before the first matches as I was working there. Save on the commute.

Didn't realise that the draw wasn't until Christmas. Bummer!

I got an email a few weeks ago from Omaze headed 'Congratulations' but it went on 'to Mr Simmons of Wigan for winning this amazing house'.

What a bloody rip off!!

I'm working at the tennis this year and I still don't have somewhere nearby to stay. Fek!

Simpo Two

85,349 posts

265 months

Saturday 8th January 2022
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What interests me is that if Omaze can do it and pick their way through the Lottery & Gaming Act, why aren't there more outfits doing this?

jakesmith

9,461 posts

171 months

Saturday 8th January 2022
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I CBA to look at the ticket price but say they’re £1 each, they need 5% of the population to buy a ticket to cover the costs. That involves investing in marketing and obviously the TV ads need to come out of their revenue. There are many of these comps and apparently it is unusual for them to complete / give the house away. The numbers just don’t work

lost in espace

6,160 posts

207 months

Saturday 8th January 2022
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jakesmith said:
I CBA to look at the ticket price but say they’re £1 each, they need 5% of the population to buy a ticket to cover the costs. That involves investing in marketing and obviously the TV ads need to come out of their revenue. There are many of these comps and apparently it is unusual for them to complete / give the house away. The numbers just don’t work
Probably have big VC pockets and looking towards a float one day, don't need to make a profit just become a market leader.

Simpo Two

85,349 posts

265 months

Saturday 8th January 2022
quotequote all
jakesmith said:
I CBA to look at the ticket price but say they’re £1 each, they need 5% of the population to buy a ticket to cover the costs. That involves investing in marketing and obviously the TV ads need to come out of their revenue. There are many of these comps and apparently it is unusual for them to complete / give the house away. The numbers just don’t work
But if they are selling the tickets on the grounds that someone will win the house, whilst knowing that in all probability the house will not be won by anybody... that has to be mis-selling at best.... they're just taking money and keeping it. 'False pretences'?