Click Here to Enter for your chance to win the waterfront DIY Network Blog Cabin 2016, located on the Gulf Coast, plus a $50,000 cash prize provided by national mortgage lender Quicken Loans and a 2016 Mazda CX-5. The grand-prize package is valued at over $900,000 from DIY Network Blog Cabin Giveaway 2016 Sweepstakes.
Sweepstakes Rating: Okay
Eligibility: US, DC, 21 and older
Entry Dates: August 8, 2016 until 5:00 p.m. ET on September 26, 2016
Random Drawing: on or about October 6, 2016
DIY Website Entry Form | HGTV Website Entry Form | Official Rules
Mail-in Entry: hand print your name, complete address, phone number (including area code), and date of birth either on a postcard or on a separate piece of paper no larger than 8½ x 11 inches, and mailing the postcard or paper in an envelope with the proper postage affixed to:
DIY Network Blog Cabin Giveaway 2016
PO Box 52628
Knoxville, TN 37950
Entrants using U.S. mail may enter as often as they wish. Mail-in entries must be postmarked by September 26, 2016 and received by October 3 2016. Limit one entry per stamped outer envelope. Mechanically reproduced or hand-stamped entries or mailing labels or entries generated by script, macro or other automated or mechanical means and entries by any means which subvert the entry process will not be accepted. Incorrect, illegible, corrupt, and incomplete entries are void.
Entry Limit: two entries per person per day (one DIY entry, and one HGTV entry). Unlimited Mail-in Entries
One (1) Grand Prize: home located near Panacea, Florida that is featured in the “DIY Network Blog Cabin Gulf Coast Escape” 2016 special (including home furnishings and merchandise as determined by Main Sponsor in cooperation with the Participating Product Sponsors and installed prior to conveyance) (ARV: $854,657); $50,000 (awarded in the form of an electronic funds transfer) courtesy of national mortgage lender Quicken Loans; a 2016.5 Mazda CX-5 (ARV: $33,725) and John Deere Compact Utility Tractor (ARV: $22,790) The ARV of the DIY Network Blog Cabin includes structure, lot, landscaping, home furnishings, merchandise, and artwork as of June 10, 2016. Total ARV: $961,172
Here they go again with no cash option. Leaves the ‘winner’ having to pay taxes on $961,000. So get a mortgage or dump it, likely at a loss, to pay the taxes. Thanks, but no thanks.
I think there is a cash option. This is written under the prize description, at the very end:
“In the event that the DIY Network Blog Cabin is not available for Grand Prize Winner to take possession of for any reason, Grand Prize Winner shall receive the ARV of the DIY Network Blog Cabin in cash.”
For any reason seems to me it would include the inability of the prize winner to pay the taxes and fee’s. I very well could be wrong but I guess a lawyer might know.
No, that’s an out for them in case of a problem with finishing the project. It’s not an option set for the winner. If you’ve followed these sweeps in the past, there used to be a clear cut ‘or you can choose the cash option.’ Just the state tax in my state would be $96,000 not counting fed tax and typically you pay tax on the full prize value, not what you net from a sale.
It’s because they kept getting stuck with the houses & DYI isn’t in the real estate business.
Poor them. The people that enter these contests aren’t in the real estate business either. If you’re going to do it properly, put enough cash in to cover the taxes. HGTV was trying this too, but then went back to offering a cash option. Does that put them in the real estate business?
I was just commenting why they stopped the cash option. The winner could always take out a lean on the house to cover the taxes until he/she decides what to do with the house, it’s still a win win. Just a little more complicated.
Florida? Yep, one Will have a “lean” alright. I believe Ms. Debbie meant to state “lien”…which must first be satisfied before the property may be disposed. “Complicated” and a half, to say the least. So sad that it’s always written in Their favor, Not the Winners’/Consumers’. I’ve yet to nail down exactly how much I’d pay in taxes as the ‘Winner’.
Yes, Lien not lean. Thanks
I wouldn’t call my CPA just yet, the odds of winning this are as good as winning the lottery. Millions of entries.