Omaze House Winner: Can You Sell the Home If You Win?
Winning a house through Omaze raises practical questions, especially if you have never dealt with property draws before. It is natural to wonder what your potential choices are once a winner is announced.
Selling is one option, but it involves a few steps that can take time. Knowing how ownership is transferred, when you can list the home, and what costs might follow makes the picture much clearer.
This guide explains what could happen if you win an Omaze house in the UK, with key points to consider from a legal and financial angle. It reflects current guidance so you can understand what winning might involve in real life. Read on to learn more.
Can You Sell the Omaze House If You Win?
If you win a house from Omaze in the UK, the property usually becomes yours once the legal transfer is complete. That means you can decide what to do with it, including selling or renting it out. Many winners think about selling if moving does not fit their plans or if they want to avoid the ongoing costs of a larger home.
There is nothing in standard prize terms that prevents a sale after you become the registered owner. The timing of any sale depends on when the transfer is final and your name appears on the Land Registry. That part can take a few weeks.
It might be a good idea to speak with an independent solicitor or financial adviser before potentially making a decision. They can help you weigh up practical points such as council tax, insurance and maintenance, and how a sale might affect your wider finances.
If you do decide to give property draws a go, remember to do so responsibly and within your means; never wager more than you can afford to lose.
How Soon Can You Sell the Omaze House After Winning?
You can market or sell the property once the legal transfer, known as conveyancing, is finished and you are listed as the owner. This is the same process that applies to most property transactions in the UK.
The timeframe varies with the location and complexity of the paperwork, but four to eight weeks is a common range. During this period, solicitors handle the checks, prepare documents and update the Land Registry.
Until those steps are done, you are not yet the legal owner, so you cannot exchange contracts on a sale. If you want a clear view of progress, consider asking your solicitor for regular updates and estimated dates.
How Does the Property Transfer Process Work?
If you win, a solicitor manages the conveyancing so the title moves into your name. You provide proof of identity and complete forms needed to verify you as the new owner.
The solicitor checks the property for issues such as charges or restrictions, reviews relevant documents and confirms that there are no outstanding matters that would affect ownership. Once everything is in order, they file the application to update the Land Registry.
After the Land Registry records your details, you are recognised as the registered owner and can make decisions about selling, renting or moving in. Timelines differ slightly from case to case, so it might be worth asking for updates if anything is unclear.
What Are the Costs of Owning an Omaze House?
Owning an Omaze house can come with significant ongoing expenses beyond the initial win. From property taxes and maintenance to insurance and utilities, understanding these hidden costs can be helpful before deciding whether to keep or sell your potential prize home.
Council Tax, Maintenance and Utility Costs
Owning a home won through a prize draw often comes with bills that are higher than you might be used to. Council tax is based on the valuation band, and large or high value properties can mean annual bills well over £3,000, depending on the local authority.
Maintenance can range from routine gardening and cleaning to repairs and specialist services. Homes with sizeable grounds, pools or additional facilities usually cost more to maintain. Keeping up with upkeep protects the property’s condition and value, but it can add up over the year.
Utility bills, such as gas, electricity, water and broadband, are another factor. Bigger properties often need more heating and power, so it might be a good idea to review tariffs and consider energy efficiency measures where possible.
Insurance and Legal Fees
Buildings and contents insurance is essential. Premiums depend on the property’s value, location and how it will be used. If the home is empty for periods, insurers may require additional security or specific cover, which can affect the price.
There can also be one off administrative costs, such as Land Registry updates for any future changes, plus charges for switching utilities and arranging services in your name. While many initial fees linked to the prize are often covered, you may still encounter smaller expenses after you become the owner.
Is It Better to Keep or Sell the Omaze House?
Whether to keep or sell depends on your plans, preferences, and budget. Living in the property may be appealing if the location and layout suit your daily life, and if you are comfortable with the ongoing bills for council tax, insurance and maintenance. For some homes, annual running costs can reach several thousand pounds.
Selling can provide a large lump sum, but there are costs to factor in. Estate agent fees, conveyancing, an Energy Performance Certificate and any staging or minor works can add up to a noticeable percentage of the sale price. Property market conditions also influence how quickly a sale completes and the price achieved.
Renting is a middle ground that can generate income, although it brings landlord responsibilities such as safety checks, deposit protection and compliance with local regulations. If you plan to rent, factor in periods when the property may be empty and the cost of management or repairs.
It may also be worth considering tax. Rental income is taxable, and any gain on a property that is not your main home can be subject to Capital Gains Tax.
**The information provided in this blog is intended for educational purposes and should not be construed as betting advice or a guarantee of success. Always gamble responsibly.
*All values (Bet Levels, Maximum Wins etc.) mentioned in relation to these games are subject to change at any time. Game features mentioned may not be available in some jurisdictions.
