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House and garden worth £875k to be auctioned for just £2

The house and nearly 1 acre garden are valued at £875,000. Photo: ITV West Country

A woman from North Somerset who has failed to sell her house through estate agents, has decided to list it as the winning prize in an online competition.

Tricia Hamilton's four-bedroom property in Pill is valued at £875,000 pounds, but the competition entry is only £2.

If somebody wants to enter once, then they pay for that entry. If they get the answer right, they go into a prize draw. One number would come out of the pot, and if we reach the target amount, then they'll win the house.

– Tricia Hamilton

She has lived at the property for a decade. It was at first a two-bedroom 19th century cottage, but has been restored and modernised over the years. It now has 17 rooms.

If the asking price isn't reached, the winner will get the cash invested instead.

Watch a tour of the house, with our reporter Katie Rowlett below:

Tricia Hamilton, who is a hat maker, would need to sell at least half a million entries for the competition to work. She acknowledges that risks do accompany this type of venture and says she has worked to have "all the safeguards in place".

So I'm speaking to the legal team. I am talking to the insurance. The gambling commission are happy to talk to me, although they won't offer any advice.

– Tricia Hamilton

The risks she faces includes being charged with a gambling offence or even losing her home.