Tennessee Contract for Deed

Selling a real estate property in Tennessee but the buyers can't qualify for mortgage financing? You can finance all or part of the purchase price with this Contract for Deed.

• A Contract for Deed is also known as a purchase money mortgage or installment purchase contract.
• Under the terms of this Contract, the seller effectively becomes the mortgage lender for the balance of the purchase money.
• Title will transfer to the buyer once payment in full of all principal and interest has been received by the seller.
• The seller has the right to take back the property if the buyer defaults in payment.
• At your option, the balance can be repaid by monthly payments with or without interest until paid, or by monthly payments with interest for a fixed number of payments and a final balloon payment at the end.
• The form is in MS Word format and is fully editable to fit your exact circumstances.
• Intended to be used only in the State of Tennessee.