May
31

Do I need an attorney?

By

I’m often asked by nonprofits if it’s necessary to hire an attorney if they want to do a house raffle fundraiser. People who purchase homes, don’t necessarily hire an attorney. So for the most part, it is not necessary to hire an attorney in order to  purchase a home through a house raffle. The primary legal document consists of a real estate purchase agreement with a few contingencies. For example, the nonprofit does not sell enough tickets to pay for the home, then what? The winner takes the cash prize alternative instead of the home, then what? And the contingency that the nonprofit will set-up an escrow account to hold all the funds coming in from ticket sales. This last contingency protects the homeowner from a nonprofit that may start spending the money during the raffle time-frame.

Therefore, hiring an attorney is not necessary, but if board members of a nonprofit have never purchased a home, the help of a real estate agent or a real estate attorney may be useful. Check out Step 9 in my book, titled, “Sealing the Deal.”

To your success!

Diane Giraudo McDermott

Categories : Just the Tips

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What Others Are Saying:

“The book really does take you through the entire process. I feel like Diane holds your hand from beginning to end from qualifying the grand prize home to what happens after the drawing. I’m a homeowner and I’ve had difficulty selling my beautiful home. Now I know what it takes to sell my home in a raffle. I know exactly what type of nonprofit I need to partner with on my house raffle and what to expect. I’m excited to get started.”

-Karen L. Furguson, Homeowner in Tucson, Arizona

"Consulting with Diane by phone has been invaluable. Her knowledge on the subject of house raffles is enormous, and she has really given us a better understanding of the process as we move forward with our house raffle. She has been more than willing to take the time needed in answering all of our questions. After consulting with Diane, we feel we have a much better chance of putting together a successful house raffle and are excited about making it happen."

Chip Thompson, homeowner in Rehoboth, Delaware

"'I Sold My House in a Raffle' is an excellent example of creative marketing. The best marketers think "out of the box" and Diane shows that you can really sell your house in a raffle!"

-Ali Pervex, International Best Selling Author, 'Get Your Black Belt in Marketing', www.blackbeltinmarketing.com

“What a great marketing tool! This is a hot new method to get a property sold. My clients love this idea—I already have my first raffle house lined up. I’ll use Diane’s process to get and sell more listings.”

Jack C. Rosemary – California Real Estate Broker, 26 years experience

“I attended Diane’s workshop on February 27th, and she’s got it all together. Not only does she know how to pull off a house raffle but you can tell that she was a teacher because she knows how to convey the information. She broke the process into bite-size pieces and gave us exercises to complete so we were involved. Before anyone attempts a house raffle, they should attend Diane’s workshop–there’s more to it than one could imagine.”

-Ron Thomas, Real Estate Investor for 20 years, Albuquerque, New Mexico