In-your-face stuff from an opinionated
rural north Idaho housewife.
Cute, but no cigar. The WP states that these folks "are giving away their 18th-century horse farm for $200"? Of course the truth is that they are willing to 'let the farm go' for $600,000. These folksy folks are giving away nothing.I have nothing against adults gambling. But why don't you take your 200 bucks to the nearest casino and at least get an all-you-can-eat buffet.Montana Guy
Agreed. These "contests" have a minimum of entries that they have to get for the giveaway. The owners always get a hefty profit. They're giving away nothing.
I see the raffle as no more sinister than a $10 ticket for a chance to win a gun. The value is higher, so stands to reason that entry fee is higher. Seems they want an educated, worthy person to take over so their hard earned dream doesn't go up in smoke. At $600,000 the odds are 3,000:1 - not too shabby. Some people are in it only for the buck and could care less if a place burns to the ground so long as they get that cash. These folks seem to have honorable intentions and have fully disclosed the terms.
There is also a dairy goat farm/creamery doing the same type of thing in Alabama, an essay and entry for a chance to win....
Doing the math... 600,000 divided by 200 yields 3000 entries. That means they have to read 3000 essays. Wow, kind of hard to believe.
No need to read all of them-Just find one they like and accept it. I think they're more interested in the money, not finding the perfect person. Not that there's anything wrong with that SuccotashRose
Whatever works. Seems like a win-win to me: They get the value of their property (nobody would be griping if they were selling the place for the $600K it's worth) and someone with an interest in farming, good writing skills, and limited funds gets a farm free and clear. If I knew crap about horses, wouldn't be relocating my family at gunpoint, and didn't already have three and a half perfectly good acres in West Virginia, I might enter. Sad thing is that the State of Virginia will probably harass them into oblivion. Mostly out of terror that they're getting cheated out of $60K in taxes.
Free and clear?? The IRS will consider that gambling winnings and it is taxed. Taxes would be on fair market value and at 600k that is a big chunk of change.
Patrice, How is your garden doing this year?
There has been quite the kerfuffle here in Maine with an inn that did the same thing, with unexpected results.
We're only 4 hours west of that area, but I still consider us too close to D.C. I'm afraid the farm would have to be in a far better location before I would be willing to put my writing skills to the test with a $200 bet.
What are the property taxes like 2 hours south of D.C.? Ummm, I'm thinking no thanks on this one.