My computer, the only one that can create/edit web pages, is dead, so I can't easily update the condo contest info. For now the most recent info (and photos) are here on this blog.
QUESTION: What happens if you sell the condo while you are running the contest? Do we get the money?
ANSWER: If someone does make me an offer, I plan to discuss it with those who have sent in entries. I think that is only fair. Understand, I've had no life for 10 years and I don't know how much time I have left to build up a nest egg for my old age, so I'm anxious to leave and start over. I am the one working hard to come up with the cash that I can't keep. None of the entrants are putting up a dime.
I announced right in the beginning - in the news release - that the whole point is to "sell" my home by any means possible, as soon as possible, so there is no deception. If I were to take money from contest entrants and not deliver a home that would be fraud. That's why there is no fee to enter. (Most of the essay contest require a $100-$250 entry fee.) I'm going on the premise that I will be giving away the condo.... in full or in part.
If I sell it to a buyer, it will definitely be at a loss to me. In other words the cash offered won't be enough to pay off the mortgage and I can't get an unsecured loan if I am home-less. So I will have to make up the difference by selling books and whatever else I can sell. I will come out of the transaction absolutely penniless and with not a cent to start out or rent a place.
So it's not as though I personally will benefit financially. In fact, I won't even get my original 10% down payment out or any of the principal I've paid over 2 full years. That will be lost. Nobody who enters the contest will receive any money. I won't receive any money. It will all go to the mortgage company, the condo association, the city (property tax), banks to cover loans, final utility payments, and legal fees.
So whatever happens I will be subsidizing someone's home either fully or partially with money I must earn. I will not be benefitting in any way... except that I can leave without defaulting on my loan. And there is always the chance that I won't be able to sell 3,500 books to raise $152,000.
Who I am
- Andrea Reynolds
- Erie, Pennsylvania, United States
- I'm a 72-year-old single female now living in the Tampa Bay area, from Erie Pennsylvania. I spent almost 30 years in Ontario Canada where I owned a personal public relations consultancy and wrote books on getting paid to consult, speak, and write. I stopped blogging in 2011-2012 when I attended to both parents' separate estates.
