http://digg.com/travel_places/Sell_my_home_for_100_and_an_essay
Good stuff. Help the guy out by passing the word around.
That’s a freaking awesome idea to make some cash and still seem noble. I’m gonna go and start a scam now.
It certainly appears to be a win/win situation on first appearances, although I’m not entirely sure. He claims the market value to be $180,000 but he’s a little coy about what he actually paid although he does imply that it cost him around £250,000 according to the number of entries required to make it a viable proposition. So let’s examine some scenarios:
Scenario A
He only receives a dozen entries. He either sells the house for $180,000 as planned leaving him $70,000 out of pocket but with a new job that presumably has a higher salary. Alternatively he treats the property as an investment for the future and stays put. Everyone gets their $100 back although the seller is a loser.
Scenario B
He gets 2500 entries, sells the house, and enjoys a larger salary. One person makes an instant profit of $249,900 and the seller wins. BUT 2499 people lose $100.
Scenario C
No doubt the one he might be angling for…5000 people enter. He sells the house and enjoys a larger salary plus a nice tidy bonus of $250,000. One person makes an instant profit of $249,900 and the seller wins big time. **BUT **4499 people lose $100.
And then there’s Scenario D
He’s investigating by the authorities for running what is, essentially, a pyramid scheme. He spends three to five years in free accommodation provided by the state and **ALL **entrants get their money back. Once released, he still has to sell his house although it’s unlikely that the new job position would remain open. The seller loses big time.
Or Scenario E
He’s investigating by the gaming authorities of Idaho state for running an unauthorised lottery. He attempts to plead that it is a game of skill which, if his plea fails, could see him spend 6 months in free accommodation provided by the state and a fine of $1000. All contestants get their money back, and he still has to sell his house. The seller loses.
Whichever way you look at it, someone loses out.
It’s technically a ‘contest’, with an ‘entry fee’ - since there is the essay component, which should circumvent the unauthorized lottery (Scenario D) qualification. The overriding characteristic of a pyramid scheme is the promise of large profits based on recruiting other members to the scheme - which just isn’t an aspect of this particular contest.
[whisper]Don’t worry, I understand that most of your CPU’s resources are devoted to researching ways to overthrow our puny governments, tiny mistakes are bound to happen. :love:[/whisper]
The house is pretty boring and Bonner’s Ferry is nothing to write home about. Meh, cool idea, but I can’t imagine people jumping at the chance to live in rural Idaho.
Also these are not vaulted ceilings - http://100housecontest.com/photos/8.html
Nice he is gonna get everyone else to buy his house, and just give it to one person for 100$.
