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FAQ - QUESTIONS AND ANSWERS
How will the lots be drawn?
Randomly
Where does one pay?
All payments are kept in a specific escrow account kept by the notary.
Where will the draw take place?
The draw will take place in Cyprus under the supervision of a notary. The exact location will be published in the web page as well as per e-mail (newsletter).
Why the draw will be in Cyprus? Cyprus is a member state of the European Union and has a legal system based on that of England, so offers, therefore, a large amount of legal security. Also there are no restrictions for this type of marketing, as there are in France, Germany and other countries.
When will the draw take place?
The public draw will take place in accordance with the notary's regulation in its current edition under survey of a notary.
How long is the sales period?
The raffle will run until November 2010, or until all 49,999 raffle tickets have been ordered and sold.
The lottery drawing will be arranged earliest on November 2010 in Cyprus. For administrative work and for collateral securities we claim a timeframe of maximum 4 weeks.
Should the 49.999 lots be sold out at a prior date, the draw will then be set to a earlier date, under observance of a two weeks' term, during which the new draw date will be published in the home page and any other appropriate method.
From when on is my lot valid?
Settlement with bank wire:
After reception of your payment in our escrow account your lot becomes valid. You will receive the lot numbers per e-mail.
What happens if not enough lots are sold? Should it come to a reversal because not enough lots were sold, the amounts paid to the participants back to. This is done in the form of an e-mail form that all participants will be sent by IBAN + BIC specify the amount to be Charged back
Which are the winning chances?
1: 49.999.In the traditional lotto the chance is 1: 140.000.000. Due to the limited number of only 49.999 lots, your chance to win is excellent.
Will there be any additional costs for the winner of the draw?
All duties, costs and other tributes in relation with the draw and the transfer of ownership will be carried by the present owners. The lucky winner will receive the keys and will be able to move in right after signature of the deed and the property has been recorded in the cadastral register.
Can you purchase lots directly?
The participation is only possible through the internet.
Who can participate?
Only those of legal age can participate. Excluded are members of the family of the owners and all parties concerned with the administration of the draw (notary, attorney, administration...)
Why do we draw this property?
Due to the present economical situation it is presently almost impossible to sell the property for a price around its appraisal value. The idea of a draw looked like an ideal and fair method to achieve this. We receive a fair price for our house and you have chance to receive a dream house for 25,- Euro
What if the property suffers any damage until the date of the draw, i.e. fire?
The house is adequately insured according to its value.
Is the drawing legal?
In this precise case the owners of the real property are doing a nonrecurring drawing. Therefore the drawing is limited to a single property. This is not an enduring activity to achieve revenues.That is why this drawing is not infringing upon federal gambling law and federal gambling monopoly.
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