East Croydon Cool talks…is a blog series that explores topics of cultural interest via local area experts. As the property market continues to baffle us all with insane prices, complicated legal procedures and additional (seemingly never-ending!) costs, we’ve recently become aware of a new way of doing things.
Whilst winning a house in a prize raffle might on the surface scream SCAM (and a few dodgy deals in the early days have certainly made people cautious), a new wave of competition platforms offering technology that ensures a simple and secure transaction, has meant a growing number of people are now choosing to sell their home this way (and a growing number of people are securing themselves a dream home for less than a fiver!) Check out what Which? has to say about it all here.
The premise is pretty simple. As one of the leading platforms, Raffall, explains: “Raffles have been around for as long as we can all remember. In that time however, they’ve never developed or evolved with modern technology. Think of Raffall as the ‘eBay’ of the competition space! Raffall is the first platform of its kind that enables users to host raffles whilst at the same time legally enabling them to keep all of the revenue generated from ticket sales. Hosts specify the price per ticket and the number of tickets issued so that the odds for winning each raffle are fixed enabling users to calculate their chances of winning before entering”.
Keen to find out more, this month we talked to Croydon resident Yumi who is raffling her Coulsdon Townhouse (via Raffall) for £3 a ticket and donating £30k to three charities.
So Yumi, how on earth did you get into this?!
Well, we are emigrating to Sydney, Australia and so I need to sell our beautiful house. I saw somebody doing this in our emigration group and thought “I can do this and change someone else’s life as well as my own”. Using this process, we get more money than if we were to sell privately. This will help me put a larger deposit down in Sydney for my family, pay off the mortgage in Coulsdon (and all legal fees & stamp duty) before handing it over to the lucky winner. Most of all, this process enables us to have funds to do good with and so we will also be able to donate to 3 wonderful causes that we’ve personally chosen.
What made you decide to sell your home in a raffle? Were you nervous?
I am an optimist; I believe you can do anything you put your mind to. Matt was sceptical but I just said “watch me” he said “OK, go for it”! So with baby in arm, I’ve bought on a small team to help me and we are smashing it!
How does it work?
Our competition is hosted by raffall.com. They hold all funds and generate a winner when the competition closes. When the last ticket is sold, they take 10% and give us the rest. We then cover the overheads (in marketing, mortgage, legal fees, stamp duty and the £30k to charities) and keep the rest for our emigration to Australia. We have to sell 400,000 tickets in order for this to work. As I am writing this, we have 330,000 tickets left to sell (by 4th June which is the day the winner will be selected!)
What happens if you don’t sell enough tickets?
If we do not sell enough then two winners will be picked and take 75% of the funds raised split equally, Raffall then keeps the rest. We get nothing. The money pot is currently sat at about £76k per winner and that sum will keep rising.
Do you have any influence in who wins?
Nope, none at all. Raffall.com hold all the funds and all the entrants’ details. They will generate a winner via a computer generator. We have absolutely no input on who wins. We have so many supporters and I can just feel it that the right person will win. It’s VERY exciting!
What have you enjoyed about living in Croydon?
Croydon has always been home for my family & my husband Matt. I went to BRIT school. Matt grew up in Wallington close to fiveways and Croydon was his stomping ground. My siblings grew up in Selsdon and then, when I was born, we moved to the Carshalton/Sutton area. So South London has always been home. We spent lots of time and weekends with my siblings in Croydon growing up and I knew I felt much more at home here than I did anywhere else. I knew I wanted my boy to be born at Croydon Hospital so even though we are moving to Australia, he will always be a CROYDON BOY!! Big up!! The diversity and culture here always made me feel at home and when we bought our home together it was clear that the only place we’d choose was the Borough of Croydon.
We’re only 5 mins by train from Coulsdon South and we love the culture, the good food and the community feel. I love that Croydon gives us access to IKEA, The Store (one of the best restaurants with the loveliest of owners!) and plenty more fab eateries and drinking spots. It’s the cool spot in South London bordering the beautiful Surrey. With easy access to both the urban environment and the countryside, and with so many talented souls and culture – what’s not to love?!
What are your favourite features of the house?
The inside of this house is just beautiful – calming and inviting. We have decorated it nicely (well I think so!) The living room is one of our fave spots to chill in with a cuppa. It’s so spacious and a little topsy turvy (as our living room is on the second floor). Our kitchen is where all the good food and wine is consumed. The Cane Hill estate has so much history and we have an amazing, safe community here. I am so excited to do a take-over of East Croydon Cool’s Instagram next week to give your followers a live tour so they can get a proper look at the home they might win if they enter the competition! (ON MONDAY 17TH MAY AT 7PM, YUMI WILL BE TAKING OVER THE EAST CROYDON COOL INSTAGRAM ACCOUNT TO GIVE FOLLOWERS AN EXCLUSIVE TOUR AROUND THE HOUSE!)
How did you choose the charities that the fundraising money will go to?
We are fundraising for Alzheimers Society because my wonderful mum has Alzheimer’s and so we wanted to help people who suffer with this awful disease. My mum is my absolute inspiration and pushes me to do fun things with my life – this Raffle is most definitely one of them!
We are also donating to Wor wattana – helping Love Island’s Kaz Crossley to build a home for children from disadvantaged backgrounds. They train them in Muay Thai (the nation’s favourite sport). I love helping kids – they are our future – and as a couple, we love travelling and meeting different families across the world so this charity was a perfect fit for us.
Lastly, we’re donating to Sporting Minds – they help children and young athletes with mental health support and counselling. Sports help our children to thrive. When reasons such as not making the team or Covid stop sports – this wonderful charity helps the kids mentally affected.
What’s your favourite thing to do in the area?
We love walking to our local shops in Coulsdon to get coffee from Cyco cafe and then walking on the beautiful Farthing Downs. We also love jumping on a train into Central London – we are there in 20 mins and have lots of fun days out up town. We often stop at Boxpark on the way home to pick up food for an easy dinner.
Why did you buy in Coulsdon?
For investment reasons, we are such a good location on the Cane Hill Park – 5 mins on the train to East Croydon, 20 mins to Gatwick Airport, 30 mins to Brighton and the commute to Central London is just 25 mins. It’s a great investment for someone and we know this house will be worth a hell of a lot more in 5 years’ time especially with Croydon’s £5million regeneration.
About The Coulsdon Townhouse
The Palmer family are raffling off their home for a life in Australia. But not before donating £30k across three chosen charities and giving someone the life changing opportunity to win their home for just £3 a ticket! A large detached 3 bed townhouse in Coulsdon, South London, their home is beautifully decorated and all furniture is staying (so it’s ready to move straight into!) It’s a chance of a lifetime and your chances are much higher than a lottery ticket – good luck to all entering and from the Palmers and the charities thank you for your support.
For your chance to WIN this Coulsdon Townhouse, CLICK HERE!
The winner will be selected on 4th June 2021!
Follow Yumi’s daily raffle journey, including videos, reels and lives, via Instagram HERE