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Woman Raffling Home Off On eBay For $100

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Apr 1, 2008 8:04 pm US/Eastern

Woman Raffling Home Off On eBay For $100

C-Note Could Get You A 2,900 Square-Foot House

WILLINGBORO, N.J. (CBS) ― Does the subprime mortgage crisis have you out of the real estate market? Try this one on for size.

There's a house you can own for less than the price of dinner for two in Manhattan. How about four bedrooms, a huge living area, cathedral ceilings and a stone fireplace for $100?

"One hundred dollars, yes," owner Sharon Hart said.

Say hello to Hart and her 2,900 square-foot ranch home in Willingboro, which admittedly could use a coat of paint, but is now available on eBay, she says, for the rock-bottom price of $100.

The obvious question: Why?

"Well … I had the house on the market for about two-three years. It's not selling so I need to get rid of the house. I cannot afford it anymore," Hart said.

Now of course there is a catch. Not a big one, but a catch nonetheless.

"The house is being raffled off," Hart said.

That's right. Hart says the house will be sold via raffle on eBay -- $100 per entry. And who knows how many hundreds or thousands of people are competing for it?

When asked how much money – or entries – she needs, Hart said, "About 2,000 people to purchase the tickets. To pay the mortgage off."

If Hart doesn't get what she wants, she says she'll keep the crib and return everybody's money. If she does, she says somebody will be getting a house – for a C-note.

Hart says the raffle will be drawn on May 1.

(© MMX, CBS Broadcasting Inc. All Rights Reserved.)

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