An 11-bedroom foreclosed property in Cowan, Tenn., will be offered for public sale on September 9, 2022, at 11 a.m. (local time). The sale will be held at the front door of Franklin County Courthouse, 1 South Jefferson Street in Winchester, Tenn., 37398.
KC Home of Cowan is located at 216 England St W. It is conveniently located with access to multiple markets, shops, restaurants and parks. KC Home of Cowan is also less than a 30-minute drive from local favorites such as Fairview Devil Step Campground, Tims Ford State Park, South Cumberland State Park, Franklin State Forest, Sewanee Natural Bridge, Walls of Jericho Trail and Waterfalls and The Caverns, a subterranean concert hall.
The property was previously used as a group home and is occupied, but the purchaser may determine its future use. Bidders are encouraged to thoroughly review previous participation certification requirements, terms, conditions and necessary forms to submit a complete, responsive bid prior to participating in property sale. Additional Property Information
- 11 bedrooms
- 3,791 rentable square feet
- 5 parking spaces
- City water/sewer/garbage
- Security System
Potential bidders assume the responsibility to thoroughly research the property to reach their own conclusions as to physical condition, number and occupancy of revenue producing units, estimates of operating costs, repair costs (where applicable) and any other factors bearing on the valuation of the property. Sale details are available online at hud.gov/program_offices/housing/mfh/pd/mfplist or by emailing [email protected]
NOTE: HUD considers group homes as multifamily properties, therefore, this property is being sold without any restrictions and the high bidder will determine future use.
Why does HUD have Properties for Sale?
HUD's Federal Housing Administration (FHA) has programs which insure mortgages or provide direct loans on multifamily properties. When a mortgagor defaults on a loan insured by FHA, the mortgagee can assign the mortgage to HUD and receive the benefits of the FHA mortgage insurance. The mortgage then becomes a HUD-held mortgage and if the mortgage cannot be reinstated, HUD Multifamily Property Disposition forecloses on the property. For more information about HUD and its available programs, visit www.hud.gov.