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Development Group Offering New Home As Raffle Prize

August 15, 2017
by Dan Voigt , Emmetsburg News

GRAETTINGER - It seems like almost everywhere one turns, some organization is offering chances on a raffle as a fundraiser. Prizes in raffles can range from cash to a shotgun, a weekend vacation or even a quarter beef.

But when is the last time you had a chance to win a house- ready to move-in to, or $100,000 in cash?

The Graettinger Economic Development Council is hoping that their grand prize of a new, two-story house in Graettinger or a cash prize of $100,000 will capture people's interest in a raffle that is currently underway.

Article Photos

THIS?COULD?BE?YOUR?NEW?HOME - This 1,682-square foot, three bedroom home is being raffled off by the Graettinger Economic Developmen Council on Oct.1 of this year. An alternative prize of $100,000 may be selected by the lucky winner. Only 750 tickets for the raffle are being sold. -- Dan Voigt photo

The idea came about after the GEDC, with assistance from the Building Technology Program at Iowa Lakes Community College, constructed a two-story, 1,682 square-foot house with three bedrooms, 2.5 bathrooms, a two-car garage and unfinished basement on a lot a the end of the cul-de-sac on North Walnut Avenue in Graettinger.

In setting up the raffle, GEDC officials decided that only 750 tickets will be sold for the promotion, creating a one in 750 chance of a participant winning the house if all 750 tickets are sold. If less than that number are sold, the odds will change proportionally. A raffle ticket can be purchased for $250 by any person 18 years of age or older. There is no limit as to the number of tickets a person may purchase.

To purchase a raffle ticket, payment must be made to the Pelzer Law Firm Trust Account, 113 North Sixth Street, Estherville, IA, 51334.

Tickets for the raffle will be sold through the remainder of August and through September 2017, with the final sale date of tickets being September 30, 2017. No refunds will be issued after Sept. 30.

The winner of the drawing will not need to be present. If the winner should so choose, they may opt for a one-time cash prize of $100,000 instead of the home. The winner will have until October 30, 2017, to decide which prize they will chose.

In either case, the winner of the grand prize will be responsible to pay any and all taxes on either prize, in accordance with state and federal regulations.

The GEDC will be responsible for all closing costs within 45 days of the drawing.

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