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Coffee Shop
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<blockquote data-quote="Jogeephus" data-source="post: 836446" data-attributes="member: 4362"><p>The way I visualize it working would be to have an attorney draw up the contract agreement/receipt for the $500. Each agreement would be sequencial order and each would be numbered like 25 of 260. Agreement would also have an out clause with a given time period in the event not enough people bought tickets AND a time period since it doesn't need to drag on for years. Also a redemption clause if you had a change of heart you could back out, turn in your paper and be refunded the money. Also, these agreements could be handed out at the bank and the bank would handle the paperwork and collect the money and put it in a specified account. As I see it the key is transparnacy since this is something a little different. We talked again today about it and if the house isn't sold in the next three months the realtor's contract will be up and we/he can look into trying it this way. Will first start with an attorney cause this may be considered gambling and it may be that only our state and local government can practice this. Personally, I wouldn't have a problem at all risking $500 for a chance at this house or any other if I knew it was being handled properly and by honest people and businesses.</p><p></p><p></p><p></p><p>He's gonna need every cent he can cause he'll be moving from a three street light town to one with hundreds as well as a growing population compared to a shrinking population of our community.</p></blockquote><p></p>
[QUOTE="Jogeephus, post: 836446, member: 4362"] The way I visualize it working would be to have an attorney draw up the contract agreement/receipt for the $500. Each agreement would be sequencial order and each would be numbered like 25 of 260. Agreement would also have an out clause with a given time period in the event not enough people bought tickets AND a time period since it doesn't need to drag on for years. Also a redemption clause if you had a change of heart you could back out, turn in your paper and be refunded the money. Also, these agreements could be handed out at the bank and the bank would handle the paperwork and collect the money and put it in a specified account. As I see it the key is transparnacy since this is something a little different. We talked again today about it and if the house isn't sold in the next three months the realtor's contract will be up and we/he can look into trying it this way. Will first start with an attorney cause this may be considered gambling and it may be that only our state and local government can practice this. Personally, I wouldn't have a problem at all risking $500 for a chance at this house or any other if I knew it was being handled properly and by honest people and businesses. He's gonna need every cent he can cause he'll be moving from a three street light town to one with hundreds as well as a growing population compared to a shrinking population of our community. [/QUOTE]
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