The auction and contest trend for selling a home in a tough real estate market continues with the latest edition. The Bahms of Tracy, Ca have created a contest with a twist. For the price of a $150 entry fee and the answer to their own word question, you can be the lucky owner of their ranch style home.
The Bahms make make money on their contest by selling 11,000 entry fees at $150. That is the minimum number of tickets necessary to make the contest official. With that number the Bahms would be looking at a cool $1.6 million. They decided to cap the number at 13,000 which would mean $1.9 million payday.
The Bahms have been quoted, by the Contra Costa Times, as stating they would like to donate $300,000 of their fee total to the charities of their choice. In any economic times, that is a noble gesture.