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5 Wooded Acres, East TN, Terms

Edwards Hollow Road : Sharps Chapel , TN 37866

Union County, Tennessee

5.01 Acres
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Lot Description

5 mostly wooded acres in East Tennessee. Property is located in Sharps Chapel, TN in Union County. This is just about 40 minutes north of Knoxville about 2 miles from HwyProperty has approximately 255 feet of paved road frontage on a county maintained road. Property has some nice homesites and is mostly all wooded. Norris lake is just over a mile away which is great for boating, fishing, recreation, etc.

Power and phone are at the road. A well and septic are needed for sewer and water.

We are providing 100% OWNER FINANCING for this tract. All that is needed upfront is $300 which covers all closings costs. Interest rate begins at 11.5% and can be bought down. For every 5% put down the rate lowers 1% to a low of 6.5%. Examples of payments are as follows:

nothing down at 11.5% is $370.05 monthly

5% down ($1,735) at 10.5% is $329.12 monthly

10% down ($3,470) at 9.5% is $291.10 monthly

15% down ($5,205) at 8.5% is $255.96 monthly

20% down ($6,940) at 7.5% is $223.63 monthly

25% down ($8,675) at 6.5% is $194.04 monthly

All above payments are figured on 20 years. The owner can go longer or shorter depending on their budget. There are no prepayment penalties and anything paid extra over the regular payment all goes towards the principal.

Restrictions are fairly minimal. You can build, camp, put a modular or cabin or just use for recreation. Just no commercial ventures that would be a nuisance like a pig/chicken farm or junk/salvage yard. You can have one home per 2.5 acres.

This is some great land, conveniently located. We provide flexible OWNER FINANCING to help meet your needs. Feel free to call or email with any questions.

Lot features, descriptions, details, sales history, photos, maps, boundaries and files are deemed reliable and provided "as is" without guarantee, warranty, representation, expressed or implied by LOTFLIP or its advertisers, and is subject to errors, omissions, sale or withdrawal. Contact the advertiser directly regarding this listing.