I just wanted to share this in case anyone is interested in entering this contest....my oldest ds "interviewed" his siblings and composed an essay based on their responses that he wants us to enter on his behalf.  Dh and I are also working on an essay.....who knows?  But it is a beautiful farm and hopefully someone will win it!  Talk about a great Christmas present! 

americandream-farmessaycontest.com

Hollee

Oh wow- you have to pay 100.00 to enter it though.

I am skeptical ...  It states $100 plus an essay and selling because of divorce???  How do you really know they will only accept 4000 essays and entry fees?  That is 400,000 dollars if they only accept the 4,000 entries as they state.  Is this farm really worth $400,000? 

I guess my opinion is as long as they really are giving away the farm, if they get the 4oo thousand, more power to them.  If there is no deciet then all entrants know what they are getting into.  My only thought is that if they DON"T get the 4,00 entries I don't think they have to go through with the sale..... And I don't think anyone gets thier money back.  Not sure about that one though.  I guess if I was really considering entering I'd have to do more research. 

Wouldn't that be the coolest to win!! 

The reason essay contests are usually held is because the property is not worth what the seller wants to get for it. If you can disburse that amount across a large section of people, then you can get your money out of the property. These types of contests are illegal in Canada, by the way. I suspect that's because the losers aren't happy paying that much money and not winning. Canada calls these contests a type of lottery, which is essentially what they are.

From what I understand, the Ohio real estate market has cooled so that people aren't getting the money out of their properties that they think they should. (There is another essay contest for a home in Ohio with a deadline of May 2008.) You'd think a farm that size would be worth at least $400K, but the house is only a 3 bedroom, 1 bath. Most people want more bathrooms, and they want them in good working condition. This one needs a motor repair. The basement also leaks water during extreme weather. There are a few other problems with the property, and it's being sold "as is."

The couple states on their website that if they don't get 4,000 entries by the deadline, they will extend the deadline. If they still don't get 4,000 entries by that deadline, they will split the money  they do get 50/50 with the essay winner. Not a bad return on $100 if you win. Nobody else gets their money back.

Most essay contests receive far more than the minimum number of entries, though, and I suspect a 41-acre farm is going to get a lot more than the minimum as well.

Michele