Residential Land for Sale in Rutledge, Tennessee

BACK ON THE MARKET AFTER BUYER COULD NOT RECEIVE A LOAN ON A HOUSE TO BUILD ON THE PROPERTY. HAVING BEEN TIED UP FOR MONTHS IN PENDING STATUS, THE PROPERTY IS NOW BACK ON THE MARKET FOR SALE. Sellers have given the OK to do Owner Financing on this property! No need to go to a commercial bank and apply for a loan and go through the financing process which will cost you thousands of dollars. Here's what you will typically pay on financing costs through a bank, don't believe me, google it. A bank will require 30 to 50% down. Then there are origination, application, and appraisal fees. Then closing costs which will cost additionally an average of $3,000. Interest on a commercial bank land loan can run up to 9.25%. And, most importantly, you must be approved. With this property you are automatically approved. And closing would take place at an attorney's title company. Costs with owner financing will run you a few hundred dollars instead of the thousands that a bank would charge for all their fees. The terms on this loan are 5.99% regardless of your credit. Only 20% down, and the sellers will finance it for five years. Payments can be amortized on a ten-year scale and will make the payments approximately $488 per month. If you don't choose to go the owner financing route, and are able to pay cash, the price will be discounted to $45,000. These terms are firm. Parcel number 070.04 is 1.826 acres. There is 168 feet of road frontage for easy access to the property. The property's entrance features a level grade, making it well-suited for the construction of a driveway. There is a creek at the rear of the property, but the land is not in a flood zone. The site has already received a Certificate of Approval for a three-bedroom septic disposal system. There are no restrictions on this land, and you can place any type of structure on it. Don't want to go through the expense of building a home from scratch? Set up a single or double wide manufactured home, which is a less expensive option. The Rutledge Clayton Homes manufacturing plant is close by. You can place your RV or camper on your land permanently, saving the expense of renting a space at a campground. Cherokee Lake is less than 5 miles away. Don't need a large home? Go the Tiny Homes route, an extremely popular choice now for folks that don't need a lot of living space. Another good option, which is not allowed in most communities, is that you can stay in your RV onsite while you build your home. High speed fiber internet is available in this area. Hwy 11W which will take you to Knoxville or Kingsport is 3 miles away. Grainger High School is within 4 miles. As mentioned, a major employer, Clayton Homes is also within 4 miles. The location is excellent.