A man from Hagerstown, Md., who won a four-bedroom house in a charity raffle is having trouble selling it for enough to pay the taxes on the prize.
Dennis Weaver paid $100 for a ticket in a raffle to benefit the San Mar Children’s Home. He won a restored farmhouse in nearby Big Pool, Md., appraised at $380,000.
Income taxes on the prize plus property taxes totaled $170,000. To pay them, Weaver took out a mortgage. This week he put the house up for auction to get enough money to pay off the mortgage, but there were no bidders, according to a news story in the Hagerstown Herald-Mail.
Weaver is giving up his apartment in Hagerstown and moving into the farmhouse to avoid paying rent on top of his mortgage.
He’s given up on the idea of selling. He says he’ll just wait until the market improves.
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