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Win a property in Marbella

Thu 13th Dec 2012
Win a property in Marbella

Owning a property in Spain outright and without any mortgage is nothing more than a dream for many people.

However, one person will find themselves the lucky owner of an apartment in the much sought-after area of Elvira, Marbella, thanks to a recent lottery offer.

The property vendor has issued a total of 12'000 lottery tickets at the cost of just €30 each – or £25 for those who prefer to pay in sterling - and whilst there has been a flurry of interest in the draw, this relatively new method of taking a property to market still has its sceptics.

We asked the promoters of the property Sun Coast Homes to tell us a little more about the property itself and the legalities of the draw :

How does this house lottery work ?

It basically works just like a state lottery, only that the chance of winning is much larger with odds of 1:12.000. A usual state lottery has around 1:14.000.000.This is in principal the biggest difference.

What about the legal side ?

The property will be transferred to the winner by a notary without any charges whatsoever. It is treated, legally and fiscally, exactly the same as a normal purchase, except the money to be paid at the notary stage will be paid by the organizer of the raffle. In addition, all costs incurred by the property for the first two years will be paid for the lucky winner by ourselves. The idea behind this is that the winner will have the time to reflect, without any pressure, on whether they want to use the apartment themselves or if they would prefer to rent or resell it.

Can I legally participate in the draw ?

Participation is open to all natural or legal persons, of full legal capacity and when at least one ticket for 30 Euro is bought and paid for. This takes place by transfer.

Can you give a brief description of the property ?

A full and detailed description of the property, together with photographs can be seen by clicking >> HERE << .

When will the draw take place ?

The lottery ends when exactly 12.000 tickets have been sold.

How can I join ?

Those who wish to participate in the draw should click the link >> HERE << and click the box ‘Register and buy a ticket' on the front page.There is then the application form to fill in with your personal data and to choose one or more ticket numbers to be able to participate in the draw by the notary.

Why sell a property by Lottery ?

Due to the situation in the real estate market apartments are only selling for a price lower than what the owner purchased it for. We have searched for a way to avoid these losses. This event is just the first of many and more are already in preparation. You can read more by clicking through to the website of the promoter >> HERE << in the ‘contact us' section you can send your questions. The concept not only enables the vendor to sell their property at a fair price, but represents a bargain to the lucky winner of the draw.

Those wishing to participate in the draw can read a full description of the property, together with details of the lottery by clicking on the link >> HERE << .

Comment on this Story

 
As many people are asking: Our deadline for the house lottery is the 15th of september 2013! Or we get the 12.000 tickets before or we will draw the money we got from the tickets, minus the costs (lawyer, tax, notary, marketing, administration etc.).
House To Win - Thu, 10th Jan 2013
Dear Mr. Tordoff, please note that 12.000 x 30 Euros = 360.000 Euros. But you are wright, we are not making a lot of money out of this first project. But other houses to be raffled are just waiting when the first one succeed. Follow us on Facebook or Twitter to be updated about our lottery. Happy 2013!!! And good luck if you have tickets, if not jump on the train ;)
House To Win - Thu, 10th Jan 2013
A 1:12'000 chance of winning for a €30 stake seems very reasonable when compared to a 1:1'000'000 chance in winning a jackpot prize in El Gordo for a €23 stake. But as 12'000 x €30 = €36'000 : Surely the vendor can not be making any money out of this ? Where is the catch ?
Arthur Tordoff - Wed, 9th Jan 2013
Hi there. Well, we started a year ago and at the beginning it seemed like we could sell the 12.000 tickets in 3 or 4 months...Unfortunately, it was not that easy. At the moment we are trying to reach to new markets (when we started we just entered the Costa del Sol) to get the rest of the tickets as soon as posible. We are quiet sure, that it won´t take 5 years as you wrote ;) If you have any more questions you can always get in contact with us. We invite you to join our social media sites on Facebook and Twitter, to be up to date. Merry christmas to everyone!
House To Win - Mon, 17th Dec 2012
"The Lottery ends when 12'000 tickets have been sold" They don't say how long it will take to sell these 12'000 tickets. What if it takes 5 years or more ?
Michael Gordon - Mon, 17th Dec 2012