Belfast Telegraph

Thursday 17 April 2014

Lottery tickets go with home offer

A one-bedroom bungalow in Eaton, Leicestershire, which has been on the market since last July

A homeowner has taken the unusual step of offering the buyer of his property £10,000-worth of lottery tickets in a bid to secure a sale.

Alan Hodgkinson has taken the novel step in a bid to sell his mother's one-bedroom bungalow in Eaton, Leicestershire, which has been on the market since last July.

The 64-year-old, from Scalford, Leicestershire, plans to buy £10,000-worth of lottery tickets on completion of a sale for the property, which is in a small retirement complex for the over-55s.

In a legally binding contract, Mr Hodgkinson will pledge to use £10,000 of the proceeds from the sale of the semi-detached bungalow on National Lottery tickets.

The first £125,000 of any winnings will be refunded to the buyer.

Mr Hodgkinson said: "Whilst out riding my bike, the lottery suddenly became a blindingly obvious solution.

"Rather than reduce the price, why not stake the effective reduction on the lottery and refund all winnings, up to the value of the original sale price, to the buyer. It could turn out to be the full value.

"If there's no jackpot, then the buyer is no worse off. They could still get a sizeable contribution but will also have an excellent property and it's only a matter of time before a buyer with matching needs comes along.

"The lease is over 100 years and allows for the property to be let so it can be rented out in the interim.

"Upon completion of the sale, and through a legally binding contract drawn up by the respective solicitors, I will stake the first £10,000 of the sale proceeds on the lottery and all winnings up to the £125,000 sale price will be refunded to the buyer."

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