DREAM HOME FOR £20: The new way to snap up your ideal property
A property up for grabs with Frog Hopping.
The brand new way to snap up your dream home is about to take the property market to an all new level.
If you have ever sat and imagined your dream home, you are not alone! We often dream about our ideal property, perhaps something with a pool, a mini-bar or even just somewhere out in the countryside. For many of us, we know what we want, but it's not easily achievable. Until now.
Eager home-hunters now have the chance to snap up a house in less than 30 seconds. It's thanks to one of the latest ways to buy and sell property; Frog Hopping gives participants the chance to win a property by answering a simple competition question and entering for £20. As a unique method of selling and winning property, the site allows property owners to receive their full asking price without the conventional drawn-out process of finding a buyer with suitable funds.
Current property owners that are wishing to sell their property lists it as a prize and before choosing their minimum selling price. Competition tickets are then sold to those wishing to win the property, with a winner drawn at random from all of the correct competition question entries.
If the ticket sales generate the minimum selling price amount, the owner of the property receives the cash and the property is provided as a prize to the competition winner. If the funds raised from the ticket sales does not reach the owner’s minimum selling price, a winner is still drawn, but instead of winning the property, the winner receives the cash instead (and the owner
simply retains their property).
A fifth of the remaining revenue is donated to Shelter UK, a charity helping those suffering with bad housing and homelessness. While 5% is set aside as a cash payment given to the owner of the
property, in the event that their property doesn’t reach its asking price and therefore doesn’t sell.
The site also allocate 80% of all generated ticket revenue to cover the property selling price, the Stamp Duty allocation as well as a £1500 contribution to
the winner’s solicitor’s fees. This helps to avoid a situation whereby a property winner receives their dream home, but nevertheless finds themselves with a large Stamp Duty bill to pay.
In this way, listers either sell their property, or receive a cash amount. Winning entrants either land themselves with a mortgage-free home, or receive a cash prize.
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