Having trouble selling your home? Try a public contest

Unusual approach to home sale in Alberta is not the only such contest to attempt to outsmart the down market

In today’s down market, some detached houses are not selling as quickly as they used to – if at all.

However, one couple has come up with an innovative solution to raise the funds they need from the sale of the house.

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Married owners Teresa Rambold and Bill Wyrostok in Calgary are giving away their $3 million “dream home” in an online contest called Boldstok.

Entrants have to pay a $35 entry fee and upload a photo of their pet to be in with a chance of winning the 2014-custom-built, 4,000-square-foot home in Calgary’s Mount Royal neighbourhood. There are also three runner-up prizes of $50,000 each.

Calgary contest home living
The living room of this 2014-custom-built house has stairs to an elegant galleried upper level. Source: Boldstok

The contest is not a raffle but instead the entries and pet photos will be judged by the animal-loving owners to determine who gets the house and the runner-up prizes.

Calgary contest home great room
The main floor of this home is a contemporary, open-concept great room with high ceilings. Source: Boldstok

The competition ends October 22, or after 105,000 people have entered, raising $3.5 million for the couple plus runner-up prize money.

Calgary contest home bedroom
The winner will sleep easy in this bedroom knowing that they've got a home for virtually no money. Source: Boldstok

According to a press release, the couple is turning to this unusual selling solution to get them out of debt, as they are not confident of a quick sale on the open real estate market.

Calgary contest home dressing room
The master suite has a generous walk-in closet, perfect for all the new clothes you'd buy if you were mortgage-free. Source: Boldstok

Any additional funds raised, after $3.5 million for the sellers and after the runner-up cash prizes have been given out, will be split between the Animal Rescue Crew Society (AARCS) and the MEOW Foundation.

Calgary contest home bathroom
We'd love to soak in this tub - especially if the house only cost us $35. Source: Boldstok

The contest is not the only similar initiative by a home seller thinking outside the box. In January, a woman in Millarville, near Calgary, invited up to 68,000 entrants (later reduced to 60,000) to submit short 350-word letters explaining why they should win her $1.7 million house, along with an entry fee of $25. Again, the minimum number of entries has to be achieved for the contest to go ahead. This contest closes July 5.

Calgary other contest exterior
This home outside Calgary is being given away in a letter-writing contest with a $25 entry fee. Source: writealetterwinahome.ca

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