A home which has been sold by raffle was last on the market with an online agent.
According to Rightmove, the property was listed last December at £650,000 by HouseSimple. Other agents had previously tried to market the home at higher prices.
The owner of Melling Manor, in Lancashire, has now sold his home after raising nearly £900,000 from the sale of some 440,000 tickets at £2 each.
The winner, Marie Segar, bought 20 tickets for a total of £40. Her prize has included not only the house which, despite its size and grand name, is a semi, but her Stamp Duty bill and legal fees.
The owner, Dunstan Low, bought the property, a former hotel, to do up.
He says the raffle has helped him recoup everything he spent on the property, plus delivered a small profit.
Funny how the media are reporting this story as “A house worth £800,000”.
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Does Dunstan Low have to pay tax on this Profit made from a raffle?
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You can be sure the Tax Man has been keeping a close eye on this one !
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Marketed on and off from what I can see, at prices ranging from £1,050,000 (2007) to a “DRASTICALLY REDUCED FOR SHORT PERIOD OF TIME” Guide Price of £500,000 in 2014 with an Agent who then relisted it less than a year later at £95k more.
In fairness, eight quid doesn’t seem like a bad buy – as long as the new owner doesn’t think there’s an opportunity to flip it, seeing as Zoopla will mark it up at £7.85 and falling… due to its algorythmic random number generator being programmed to encourage the next downturn in the market…
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Correction to the above – the lowest has now sunk to £435,000, when it was unsuccessfully offered for five months once again with this being its’ last advertised price at the time.
From what I can see, it had been marketed seven times, for a total of 858 days, over a period spanning ten years.
I would also suggest that it is a TERRACED property not a semi, as this is the East Wing of the former Hall, which also has a West Wing to balance it up which is now a separate dwelling.
I wonder if this reclassification will bring the value down?
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To my Trusty Plank – here’s your impossible task…
…grow up or grow a pair.
Getting off on ‘Disliking’ posts isn’t normal. People are starting to worry about you.
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I am amazed by this
whar capital gains liability does the lady have when she sells the house?
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None as it will be her prime residence
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Thats assuming she does live in it
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You can guarantee she’ll at least get the bills changed to her name before selling on!!! lol
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I was under the impression that the law restricted this type of ‘sale’ owing to gaming laws. Did the vendor get round this by applying to the gaming board?
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Marie Segar could sell the property for £80 and double her initial investment.
cool huh ?
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Erm… not necessarily, PP
By the time every NSPR Portal Advertising Facilitator has dry-humped the new Lady Melling – with no sale at the end of the “experience” (as they like it to be referred to on their ‘reviews’…) to show for it, she’ll be down quite a few grand I reckon!
Speaking of which – does the above mean that, back in the day, Dick Turpin gave all those coach travellers an “experience” when he shoved the barrel of his flintlock up their nostrils with the words “Stand and deliver”?
Makes you wonder how many stars he’d have been given…
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