Latest Omaze competition house

I did google and all of the winners ended up considerably better off than they would have been. One was in a flood area and another was potentially affected by coastal erosion but most were sold in the normal manner. 3 out of the 11 have the winners living there.

I would guess that the houses out on this raffle site are those which did not sell well on the open market. I see that most people sold for less than the advertised 'worth' but then I would expect to do that too.
 
Don’t know if the one @Red-1 mentioned as being affected by coastal erosion is the one by us, I suspect it may be, but one has been up for sale for ages. That is right by the cliffs where the coast road had to be moved inland before it fell in the sea a good few years back. Would have thought it would be impossible to get a mortgage on.
 
meggymoo said:
Don’t know if the one @Red-1 mentioned as being affected by coastal erosion is the one by us, I suspect it may be, but one has been up for sale for ages. That is right by the cliffs where the coast road had to be moved inland before it fell in the sea a good few years back. Would have thought it would be impossible to get a mortgage on.
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I did Google and Omaze replied that they have suveyors reports that say it is stable m and it is fully insurable. That said, if I'd won that one, I'd have been cutting my losses and selling pronto for a lesser value!

I did also notice that this new one has water/pond around.
 
ItIsILeclucer said:
I don't think you are allowed to sell them for the first year? Panaroma did a programme about them
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From the Omaze website:

Can I sell an Omaze Million Pound House whenever I want? Yes, the choice really is yours whether to live in, rent out or sell up. And, if you do decide to sell, there's no obligation to spend any time in the house first.

with the following caveat:

The "6-month rule" for selling property is not a legal restriction but a guideline for mortgage lenders to prevent fraud. It means that most lenders will not finance a new buyer for a property if the current owner has owned it for less than six months from the date it was registered at the Land Registry. While you can legally sell your property at any time, the rule can significantly complicate your sale by limiting the pool of potential buyers

However as I am sure it would take at least 6 months to sell an Omaze house I don't see it as a problem.
 
SEL said:
Someone asked on the FB thread. It sounded sufficient for me - I'll have to wait for FB to show me

ETA 16 acres!

I'm already planning how I'll use it 😁
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Oh that would do!

Often I don't think I'd actually want to win the houses but a house with stables and 16 acres I would!
 
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