Promo for $1m home closes

The new owner of a $1 million Waikato home - for which they will have paid just $25 - will be announced in just over a week, the house's owners said.

Murray and Michelle Smith are giving up their home in Cambridge to raise funds to build a new church and community centre in the town.

The promotion, which closed yesterday, had raised at least $1.2 million.

Mr Smith said once the payments cleared on Wednesday, the couple then needed to get the promotion independently audited before drawing the winner on Monday, February 8.