An example of what the softening real estate market is causing some home owners to do to get their home sold. The example cited is about some desperate sellers resorting to a raffle to sell their home
. Unable to sell their home after a very long period of time with it sitting on the MLS, they teamed with a real estate agent, and promised any money above the amount needed to be raised would be donated to charity. They sold raffle tickets at $100 a pop, and raised enough money to get themselves out of debt, and donate a sizeable amount to the charity. While this may seem to be an interesting way of doing things particularly in softening real estate markets – there can be a lot hurdles that need to be checked out, such as gambling laws for your area, and there is a significant amount of risk involved as well. What happens if you don’t sell enough tickets? Regardless, it shows how creative some persons can be in these difficult financial times.