Property/DIY
OMAZE house
walkinthewoodstoday · 02/01/2023 20:42
So, I'm thinking of entering this competion. Clearly as much chance of winning as me getting an Olympic gold medal, but I keep reading that these 'amazing' houses have issues. Eg one has been massively flooded and another is so close to the cliff edge that it might be uninsurable and when it falls the owners will have a massive clear up bill. The current one is in Finsbury Park and I've even been sad enough to streetview it. Can't see any obvious issues, so why is it an OMAZE house? Please enlighten me!
KCandtheSunlightBand · 02/01/2023 22:29
If you go to street view there is one image which shows two huge bits of kit, look like huge spotlights on wheels with leads attached to inside through front window, this is before the parking area was completed. Any idea what they are for? It is between two shots of the drive way parking being in place, very strange.
Blacksheepcat · 02/01/2023 22:29
It doesn’t really matter if the 3m house has issues and is only really worth 2m (or less) if you’ve won it for a £15 entry. Whatever you manage to sell it for, or rent it out for, is a bonus?? I don’t see how it’s a con? Money goes to charity and you are entered into a draw….simples, no?
FawnFrenchieMum · 02/01/2023 22:30
I’ve had an admittedly quick scan of the rules and I can only see where it talks about a background check and criminal records check. It says you couldn’t win if you have government defaulted payments. From this I think it means if you have been convicted of fraud or money laundering or if you owe the government millions you would fail the checks. No mention of joe bloggs overdraft or phone contract being a problem.
walkinthewoodstoday · 02/01/2023 22:31
Yes starting to think it was bought by developers who wanted to make a packet but the school and football stadium make it harder to sell and so was easier to get OMAZE to buy it. Perhaps if OMAZE buy it they don't pay stamp duty or some way to get around it due to being charity and the owner gets the money they want. It's close to the park and is a dead end so imagine teenagers congregate there.
pinneddownbytabbies · 02/01/2023 22:35
tulips27 · 02/01/2023 22:03
Well, I assumed that they mean "bad debt"/other circumstances like CCJs or convictions, not mortgages and phone contracts that people are mentioning here.
That is 100% my assumption, though.
Yes, I think they mean that the sort of things that would disqualify you would be being an undischarged bankrupt, having CCJs against you, whether you have defaulted on loan repayments, have any convictions and so on. Also I suspect they would be checking whether you are who you say you are, and that you are legally resident in the UK etc.
They wouldn't want crooks winning the house, it would be bad publicity.
Mirabai · 02/01/2023 22:38
EternalSunshine19 · 02/01/2023 22:01
Agree about the bathroom in the bedroom. Also not a fan of the granny flat in the garden. I'd rather a bigger garden
It’s not a granny flat it’s a workspace and would suit me very well.
It’s a shame they’ve paved over the garden but I can fix that. Just as I can fix the awful bathroom/bedroom and the kitchen.
Flapjackquack · 02/01/2023 22:38
@Blacksheepcat - a small % goes to charity. They say around 60% but that’s of net proceeds and I assume net is after the owner gets their inflated valuation. They big up the charity stuff to hide that this is just the owners way of getting a lot more than the house is worth. The National Lottery gives a lot more to charity and you don’t have the hassle of a problematic house to sell, CGT to pay etc.
toocold54 · 02/01/2023 22:39
The last house I saw won was put up for sale within weeks.
I’ve entered before and planned to sell it.
It was apparently worth £7mill and so I would have sold it for a couple of £mil and I would have got rich and someone else would have got a bargain.
I thought it was a better bet than doing the lottery but I don’t have a good credit score and I had no idea this would be an issue!!
Fleurdaisy · 02/01/2023 22:40
Flapjackquack · 02/01/2023 21:04
@PollyPeePants - what about the costs you will be stuck with whilst waiting for it to sell? Council tax, some level of electricity and heating, insurance, possibly security to stop squatters. The lottery costs less and the prize is much bigger!
As I understand it, you win a lump sum too so that would pay utilities, insurance, council tax etc.. for a while.
When you sell the house if it’s not your only home you’d cop for Capital Gains.
I think sell it cheap 1.5m as opposed to £3m it’s supposed to be worth, pay Capital Gains, lawyer, estate agent . Clear £1m ?
Flapjackquack · 02/01/2023 22:47
@walkinthewoodstoday - I assumed it passed straight from the current owner to the competition winner and Omaze just facilitated the competition but I can’t actually find anything in their rules that state what happens.
They do state the charity donation is after the cost of the prizes (including the generous house valuation) and associated fees and costs of advertising etc. Bet they round those up nicely too.
@Fleurdaisy - I’d still rather win the lottery!
shazshaz · 02/01/2023 22:48
I quite like the Finsbury house. Finsbury Tube used to be my local for a while & I didn't find it too dodgy. Many Londoners would give their eye teeth for a patio garden and living across from a park. It's fairly close to the stadium but the residents parking rules cover match days, and I notice all the houses have off street parking. I like the idea that it's in a cul-de-sac, so less traffic noise overall.
To comment on this thread you need to create a Mumsnet account.