The keys to Shrubbery Farmhouse in Longnor will be handed to one lucky winner chosen at random.
All costs are covered in the prize, meaning the winner will not even have to pay stamp duty or legal fees to have the 300-year-old four-bedroom detached property transferred into their name.
But while it sounds too good to be true, homeowners Michael and Linda Chatha insist the contest is completely legal and above board.
They hope their unusual approach to selling their home will change the life of someone who may never have otherwise got onto the property ladder.
Michael said: "The property was valued at £545,000 by Balfours and £520,000 by Samuel Wood last summer, but we failed to find a buyer for it.
"Rather than wait for the market to recover, we just thought we would take matters into our own hands and raffle it off.
"We want it to go to someone who will love it and take care of it.
"We decided to set the ticket price very, very low to make it open to anyone. Parents can buy tickets for their children to get them onto the property ladder."
Michael said the house had doubled in price in the last 10 years so would also be a sound investment opportunity or a potential new holiday accommodation business.
The farmhouse itself has three bedrooms, one en-suite, three reception rooms, and is set in the heart of the countryside with private gardens. There is also a self-contained one-bedroomed annex with its own entrance.
For the raffle to go ahead, a minimum of 300,000 tickets must be sold, generating £600,000.
This will enable Michael and Linda to cover the winner's stamp duty and legal fees, as well as making a donation to Hope House children's hospice.
If not enough tickets are sold, the winner of the draw will instead receive a cheque for 90 per cent of the ticket sales.
Those who buy tickets can also increase their chances of winning by sharing the contest on social media to earn extra free entries – and the person who generates the most additional ticket sales through their shares will scoop a £5,000 prize.
Michael added: "We come from Sutton Coldfield and we used to drive out to the countryside and fell in love with Shropshire.
"Our children were brought up in this village, there is a fantastic school and a fantastic local community.
"The house has served its purpose for us. My wife and I have gone our separate ways now so it's time for a new chapter.
"This house has been so wonderful as our family home, so we just thought, 'let's go out on a high' and pass this on to someone who will love it as much as we do."
Entries close at 4pm on January 31 and the winner will be drawn shortly afterwards at a ceremony with invited guests, media and a solicitor present.
To enter, go to winacountryhome.com