Creative Real Estate Financing

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Elijah Jay Dangerfield
  • Franklin, TN
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Owner Financing Help

Elijah Jay Dangerfield
  • Franklin, TN
Posted Nov 23 2022, 07:54

Hello!

I recently found myself in a situation where owner financing is an option for me to get into my next deal. I am working with the owner now on a set of terms that works for the both of us. I am now frantically searching on the internet to learn what all is needed paperwork wise to structure an owner financing deal in Tennessee. I have read some online resources that say that it may be very hard to do in Tennessee so I now have come to the place with the best people to see if anyone has any advice for me to figure this out. 

Thank you guys!

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Tim Herman
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Tim Herman
Replied Nov 23 2022, 12:05

@Elijah Jay Dangerfield A quick google search shows that land contracts are valid in TN.  To be sure consult a real estate attorney in the area.

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Eliott Elias#2 All Forums Contributor
  • Investor
  • Austin, TX
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Eliott Elias#2 All Forums Contributor
  • Investor
  • Austin, TX
Replied Nov 23 2022, 22:14

I have not done any of these in TN, what I would do is call a title company and ask what kind of paperwork is needed to make a owner finance transaction happen 

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Chris Seveney
  • Investor
  • Northern Virginia
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Chris Seveney
  • Investor
  • Northern Virginia
Replied Nov 24 2022, 03:38

@Elijah Jay Dangerfield

Do not do a land contract. Treat it like a traditional deal with a note and deed of trust/mortgage. Find a local title company and they can handle the paperwork