1. Quick recap: how the drawing works

• Goal + deadline: Each campaign has a funding goal (e.g., $700,000) and a fixed end date.
• When do we draw? If the goal is reached before the deadline, the drawing is triggered and a winner is picked at random from all entries (paid and AMOE/free) with equal odds.
• If the goal isn’t reached: No drawing occurs. Paid entrants can choose a refund (100%), donation to charity, double tickets with no refund available or transfer their ticket credit to another property. AMOE (free) entries expire.
• Funds: All ticket money is held in a neutral escrow account. No funds will be released until a winner is selected and fulfills all requirements, or until refunds are issued.

2. If you win: what you’ll do first

• Verify eligibility & ID (age, residency, identity check) and complete a W‑9 (tax form).
• If you win, you'll meet with our closing team (video meetings are an option) to select your winner option (see below).
• Sign closing papers via Remote Online Notarization. The title company records the deed and disburses funds per the option you chose.

3. Your winner options (choose one)

4. What we cover vs. what you cover

• We/escrow/seller handle: title transfer, recording, and a standard owner’s title policy (details in each Rule set). We aim to minimize your administrative steps.
• You handle: any income taxes on the prize, plus ongoing home costs (property taxes, insurance, utilities, HOA, maintenance).

5. Taxes in plain English (with a $700,000 example)

The numbers below are illustrative, not advice. Your actual taxes depend on your filing status, other income, deductions, and yearly tax laws. Always consult a CPA.

• Prize income: If the home’s fair market value (FMV) is $700,000, that amount is generally taxable income for the year you win. We’ll issue the required IRS form (typically 1099‑MISC).
• Very rough ballpark:
  • Federal income tax: Many winners land in a high bracket the year they win. A simple way to think about it is up to ~35–37% on much of the prize amount.
  • Colorado income tax: A flat state rate also applies to taxable income.
  • Combined ballpark on $700k: Often ~$260k–$290k total (federal + CO), but it can be lower or higher depending on your specifics.
• Property tax & ongoing costs (if you keep the home): Separately from income tax, expect annual property taxes (county‑specific), homeowners insurance, utilities, and any HOA dues.
• Your tax basis: If you keep the home, your basis becomes the FMV you included in income (here, ~$700k). If you later sell:
  • Sell within a year: any gain/loss is short‑term (gains taxed like ordinary income; losses on a personal residence generally not deductible).
  • Live there 2 of the next 5 years: you may exclude up to $250k of gain ($500k if married filing jointly) under the home‑sale exclusion.
• Cash alternative (if available): If you choose, say, $350,000 cash, your taxable income is $350,000 (not $700,000). You won’t have property taxes or homeowner costs.
• Paying the tax: If no withholding applies to your prize, you’ll likely make an estimated payment for the prize year to avoid penalties.

6. Winner responsibilities (simple checklist)

• Complete ID check and W‑9 within the stated timeframe.
• Choose an option (Keep, Bridge/Refi, Cash Alt if offered).
• Sign prize and closing documents.
• Plan for taxes (talk to a CPA; consider estimated payments).
• If keeping the home: set up insurance, utilities, and plan for property tax/HOA.

7. FAQs

8. Disclaimer