BUY OR HOLD
Located in Newbern City in northern Tennessee, this property is not too far from Dyersburg. Recreational opportunities in the area include hiking, fishing and biking.
“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.” – Franklin D. Roosevelt, U.S. president
The lot is fronted by Hollow Creek Drive. The property is 15 minutes to Dyersburg, the county seat, and 1 hour and 40 minutes to Memphis.
“Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined. The wise young man or wage earner of today invests his money in real estate.” – Andrew Carnegie, billionaire industrialist
According to our research, the property is zoned R1, which allows for single-family homes, but not mobile homes or RVs. However, please contact the code enforcement officer for Newbern City to confirm all building rules and regulations prior to purchase. Please note that a drainage ditch runs through the property.
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$1 down + $299 doc fee
and $299/month for 75 months.
0% APR. No prepayment penalty. No credit check.
For $25 we can hold the property for you for 2 days while you decide whether you want to purchase. If you buy the property, this will count toward the purchase price. You can also hold the property up to 8 days.
BUY OR HOLD
According to tnvacation.com, "Unlike its railroad town neighbors, Dyersburg predates the Civil War. Established by some of West Tennessee’s first white settlers in the 1820s, Dyersburg was a steamboat town with economic growth coming down the North Forked Deer River from the Mississippi River. Today, the town’s history is well preserved in homes and historic buildings along Troy Avenue and lining the square.
“Don’t wait to buy real estate. Buy real estate and wait.” – Will Rogers, actor
The Mississippi River Trail’s pathways and bikeways course along America’s backbone, and Tennessee’s section runs through Dyersburg. Hop on at Reelfoot Lake in Tiptonville and ride for nine miles along quaint farm roads to Ridgely until you arrive in Dyersburg. Discover area wildlife at Dr. Walter E. David Wildlife Museum."
|Assessor's Parcel Number||048m-k-010.00|
|Legal Description||Scenic Hills Lot 0031|
|GPS Center Coordinates (Approx.)||36.1066, -89.2788|
|GPS Boundary Coordinates (Approx.)||36.10623,-89.2789; 36.10664,-89.2792; 36.10697,-89.2788; 36.10666, -89.2784; 36.10623,-89.2789|
|Time Limit To Build||None as far as we are aware|
|Power||Electricity is likely available on Hollow Creek Drive, but would need to be extended to the property.|
|Water||Public water is likely available, but would need to be connected to the property.|
|Sewer||Public sewer is likely available, but would need to be connected to the property.|
|Official Contacts||Please contact Newbern City.|
|RVs Allowed?||We recommend that you contact Newbern City to confirm, but, according to our research, RVs are not allowed.|
|Buildable?||Because we do not know the specifics of what you may want to build on the property, we recommend that you contact the building and/or zoning department(s) for more information on the relevant zoning and building regulations and how to obtain a building permit.|
|Survey Available?||No, we have not had a survey commissioned, but if you would like to pay for a survey we would be happy to work with your chosen surveyor.|
|In HOA?||No HOA|
Q. Are there restrictions on what I can do with the property during the owner financing term?
A. Yes. You cannot build or live on the property until the end of the loan term when the title is transferred over to you. However, you are able to use the property for recreational purposes and make minor improvements (such as clearing, grading, fencing) so long as you are in compliance with all the local rules & regulations. You'll also need written permission from the HOA authority if the property is in an active HOA.
Q. Can I build whatever I want on this property after the title has been transferred over to me?
A. What you can or cannot build legally on this land is controlled by the local government. Please contact the county and/or HOA, and provide them with the parcel number to confirm what you can or cannot build on the property.
Q. Can I visit the property?
A. Of course! Please feel free to visit the property at any time. There is no need to make an appointment with us. Please note we own all the lots we sell and we are not real estate agents. Since we are based out of New York, and own lots all over the U.S., we won’t be able to meet you at the lot.
Q. Does the property have an address?
A. Most of the properties we sell are rural and vacant, which means they usually don't have an address unless specifically mentioned in the listing page. Please call the county for the procedure to assign an address to the lot, if interested.
Q. Has the property been surveyed?
A. No, we have not had a survey commissioned, but if you would like to pay for a survey we would be happy to work with your chosen surveyor.
Q. Can I park an RV on the property?
A. Some counties allow you to park an RV on a temporary basis only, others require you to install a septic system first. If the property is in an HOA, RVs may not be allowed at all. Please contact the county and/or HOA to confirm.
Q. Are the property taxes up to date?
A. We pay all tax bills as soon as we receive them, but you can always check with the County Treasurer to verify that the taxes are current.
Q. Has a title search been done?
A. We usually do our own in-house due diligence before purchasing a property. Depending on the chain of title, we may or may not purchase a title search or title insurance when we buy a lot. With that said, we would never buy a property with a known title issue or lien. We recommend you hire a title company to perform a title search and obtain title insurance before buying any property.
Q. How does the closing process work if I choose to close directly with you?
A. Please fill out the Buy Or Hold form to get the process started. We will then send you an invoice for either the down payment plus the doc fee or the cash discount price plus the doc fee. If you purchase with owner financing, we will send the loan documents to you for your signature via DocuSign. If you purchase with cash, we will draft and record the deed transferring title to you. Once the deed is recorded, we will send you an electronic copy for your records.
Q. Do you work with title companies?
A. Yes, we are always happy to work with the title company of your choosing at buyer’s expense. Please have them reach out to us directly to get the process started.
Q. How does the seller financing work?
A. With owner financing, we will sign a land contract that gives you legal right to use the property; however, you won’t be able to pull any building permits during the loan term. Once the down payment and doc fees are paid, we will send you a link to our third party loan servicing software, where you will make monthly payments for the length of the loan term. After the loan is paid in full, we will then transfer the title to you.
Q. What kind of deed will I receive?
A. If you close directly with us, you'll receive a special warranty deed, which means we are guaranteeing that the property wasn't encumbered during the time of our ownership. If you close through a title company with title insurance, you'll most likely receive a warranty deed.
Q. How many people/entities can be included on the deed?
A. You can have as many people/entities listed on the deed as you would like.
Q. Can the deed be made out to an LLC?
A. Yes, the deed can be made out to an LLC or a corporation.
Q. Does the property come with mineral rights?
A. We buy all of our properties assuming that we only have the surface rights. In order to determine whether a particular property has mineral rights, you will usually need to hire a title company to specifically run a mineral rights search going all the way back to the original homestead.
“Buying real estate is not only the best way, the quickest way, the safest way, but the only way to become wealthy.” – Marshall Field, entrepreneur
We completed an extensive due diligence process on this lot, but we recommend you do your own research as well. Take the time to get to know your new property before purchasing – it could remain in your family for generations!
BUY OR HOLD
Our mission is to offer high quality properties at reasonable prices, provide maximum transparency and always strive to do the right thing.