Housing Complex

Colorado Woman Sells the Home She Won by Raffle

dollar

Perhaps you remember the tale of the Colorado woman who won—via raffle—a $1.2 million house in Edgewater Maryland.

For months, the house became more of a burden than a miracle since the new owner, Karen McHale,  needed to pay $300,000 in income taxes if she kept the house through the end of 2009–which she never intended to do. Lucky for her, the weight has been lifted.  The Washington Post reported this morning that the house has finally been sold for $650,000 to a church group.

The Post reported that the church paid $450,000 and McHale helped out with a $200,000 contribution. All told, McHale will pocket some $200,000 after spending money to upgrade the house, and after paying state and federal tax bills.

Image by Simon Davison, Flickr Creative Commons Attribution License

Leave a Comment

Comments Shown. Turn Comments Off.
...