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'Buy our bungalow and we'll give you 10,000 chances to win the lottery!'

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A family desperate to sell their late mother's bungalow are offering the buyer 10,000 chances to win the lottery to sweeten the deal.

The £125,000 home in Eaton, near Melton, belonged to Margaret Hodgkinson, who died last May, aged 94.

Since then, her four children have been trying to sell the property.

However, with the bungalow being a leasehold in a small development for older people, they have struggled to find a buyer.

Son Alan, 64, of nearby Scalford, said he was out riding his bike when the lottery idea hit him.

He said: "The bungalow wasn't selling so I wondered what I could do.

"It occurred to me that offering the buyer a chance of winning the lottery might move things along a bit."

The plan is that, on completion of the sale, Alan will buy 10,000 lottery tickets.

The first £125,000 of any winnings will go to the new house owner.

That way, the property could appeal to someone with an optimistic streak who fancies their chances of getting something for nothing.

Alan believes the only reason they have had difficulty selling the bungalow is the small market for it, which is why he and his family do not want to bring the sale price down. He said: "The estate agents suggested reducing the price but, given prospective buyers had requested more details, I suspected it wasn't the price which prevented any follow-up.

"It was most likely due to the property being a leasehold for over-55s only, on a small retirement complex of eight bungalows in a village.

"Rather than reduce the price, I thought I'd stake the effective reduction on the lottery instead and refund all winnings, up to the value of the sale price, to the buyer.

"If there is no jackpot, the buyer is no worse off, but they could get a sizeable contribution and will still have an excellent property to sell.

"It's just a matter of time before a buyer with matching needs comes along and, in the meantime, the lease allows for the property to be let.

"It's a win-win situation."

The bungalow is being sold through estate agents Newton Fallowell, in Melton.

Managing partner Craig Stephens was impressed when Alan came up with the lottery idea.

He said: "We think it's an amazing incentive – I have never heard of anything like this before."

Thomas Erlebach, from the University of Leicester's department of computer science, said the odds of winning the lottery jackpot with 10,000 tickets was one in 14,000.

'Buy our bungalow and we'll give you 10,000 chances to win the lottery!'


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