Everything about buying this land on terms, written down in one place, plus exactly what happens between here and the closing table. Read it, and say what you want changed before anything is signed.
The land itself, with the survey, the road profile, the well records and both easements: the tract page
Nothing here is a surprise and nothing is buried. If a line does not match what you understood, say so now rather than at the closing table.
| Purchase price on terms | $149,000 | The cash price is $125,200. On terms the price is $149,000, so carrying it costs $23,800 more than writing a cheque. That is the whole of the premium and it is stated here rather than hidden in the rate: there is no bank, no application, no income verification and no appraisal, and this is what that is worth. If you are paying cash, ignore this page and take the $125,200. |
| Down payment | $44,700 | 30% of the terms price, due at closing, wired from your own account. It does not have to be in hand today. If you are still assembling it we set the closing date for when it is ready, rather than shrinking the down payment and raising the note. |
| Amount financed | $104,300 | The balance, carried on a promissory note secured by a mortgage on the land. Arkansas uses either a mortgage or a deed of trust and the title company prepares whichever it uses; either way the deed to the land is recorded in your name at closing. |
| Interest rate | 10.9% | Fixed for the life of the note. It never adjusts. |
| Term | 96 months | Eight years, fully amortized. There is no balloon payment and nothing comes due in a lump at the end. The last payment clears the balance to zero. |
| Monthly payment | $1,632.77 | Principal and interest. The same figure every month for 96 months. |
| First payment | 30 days | Due 30 days after closing, then the same day each month. |
| Prepayment | No penalty | Ever. Pay extra any month, or pay it off entirely, and you owe only the interest that has accrued through that day. On an eight-year note that is worth knowing: the interest is front-loaded, so early extra principal takes real money off the total. |
| Document fee | $500 | One time, at closing. It covers preparing and placing the note and the mortgage. |
| Note servicing | $25/mo | Each month for the life of the note. It covers the third-party servicer that collects the payment, keeps the ledger and sends you statements. See step 6. |
| Total monthly | $1,657.77 | What actually leaves your account each month: the $1,632.77 note payment plus the $25 servicing fee. One payment, one place. |
| Late fee | $25 | Charged only if a payment is more than 10 days late. Nothing is charged inside the grace period. |
| Property taxes | You pay direct | The county bills you once the deed is in your name. The 2025 bill of $52.63 was assessed against the undivided 40 acres, before the split, so treat it as history rather than as this tract's bill. A reassessment on 22.37 acres has not run yet. There is no tax escrow on the note, so it is your bill to pay and to keep current. |
| Closing costs | Buyer | Title company fee, title work, recording and half the Arkansas transfer tax. Broken out line by line in the next section. Arkansas charges nothing at all on the note itself, which is the single biggest difference from a Georgia closing. |
| Earnest money | negotiable | The amount is set in the purchase agreement and is open to discussion, so say what you are comfortable with. Whatever it is, it is paid to Waco Title Company when we go under contract, held in their escrow account and not ours, and credited back to you at closing as part of your down payment rather than on top of it. |
| Closing date | to set | Set in the agreement, for a date that clears the credit report in step 1 and gives you time to have the full down payment in your account. |
On the rate. The note rate is 10.9% fixed. If you fold in the one-time $500 document fee, the effective rate across the eight years works out to about 11.0%. Counting the $25 monthly servicing fee on top of that, about 11.5%. We would rather show you that arithmetic than have you find it yourself later. Carried to term, 96 payments of $1,632.77 total $156,745.92, of which $52,445.92 is interest.
Who you actually pay. Title to this tract is held by Off Grid Acres LLC, the venture partner who funded it. They sign the deed to you, and they sign the note and the mortgage with you at closing. The note is then assigned to a third-party note buyer at the closing table, so your monthly payment goes to that note buyer's servicer rather than to us. Nothing about your side changes: the price, the rate, the term, the payment and the deed are all exactly as written on this page, and they are written into the note you sign. But it is your money and you should know where it goes, so it is on the page rather than in the small print. The financing terms are subject to that note buyer's approval as well as ours, which is what the credit report in step 1 is for.
This is financing on the land only. A house, a well or a septic system is a separate conversation with a builder, a driller or a lender, and it is worth asking them early how a seller-financed note on the land sits with anything they would write. Some will want to be in first position, which is a solvable problem, but it is much easier solved before you order anything than after. The tract page sets out what a well here is likely to cost and yield, and it is not encouraging reading on volume, so read it before you plan around water.
Nobody likes finding these out at the table, so here they are in advance. Arkansas closes through a title company rather than an attorney, so there is no closing attorney fee on this list at all. Treat the ranges as an estimate, not a quote. Waco Title gives you the real numbers before you wire a dollar.
Most of the figures below are not guesses. Waco Title has closed this exact forty twice in the last eight months, in February when the venture bought it and in May when the neighbouring 17.29 acres sold, and both settlement statements are in our file. Where a line has already been charged on this land, that is the number shown.
| Line | Who pays | Estimate |
|---|---|---|
| Settlement and closing feeWaco Title Company, Fayetteville: escrow, the settlement statement, preparing the deed, the note and the mortgage, and conducting the closing. This is what they charged on both closings on this land | You | $375 |
| Recording services feeWaco’s charge for taking the documents to the courthouse. Same on both prior closings | You | $5 |
| Owner’s title insuranceOptional, and we think worth it. A one-time premium on a $149,000 policy that covers you for as long as you own the land. For scale: the premium on the 17.29 acres next door in May was $258 on a $101,000 policy. Chicago Title underwrites here | You | $330 to $400 |
| Recording the deedSet by statute: $15 for the first page and $5 for each page after (A.C.A. § 21-6-306). The warranty deed on this forty in February cost $30 | You | about $30 |
| Recording the mortgageThe same statutory rate on a longer instrument | You | $50 to $75 |
| Arkansas real property transfer tax$3.30 per $1,000 of the price (A.C.A. § 26-60-101 et seq.), so $491.70 on $149,000. Unless the agreement says otherwise it is split half and half, which is how it was split on both closings on this land | Split | $245.85 your half |
| Tax on the noteArkansas has none. The transfer tax expressly does not reach an instrument given solely to secure a debt, so the mortgage is not taxed. The same $104,300 note in Georgia would carry $313.50 of intangible tax before anyone recorded it | Neither | none |
| Document feeThe $500 from the terms table, paid at closing | You | $500 |
| 2026 property taxesProrated to the day you close. It can land either way depending on whether the year’s bill has already been paid. Arkansas bills the prior year, and the last bill on the undivided forty was $52.63 | Split | prorated |
| Your closing costs, estimated | $1,200 to $1,650 |
$45,900 to $46,350What you actually need in your account by closing day, being the $44,700 down payment plus these costs. Budget to the top of that range and be pleasantly surprised. Your earnest money comes out of the $44,700 rather than sitting on top of it, so whatever you send when we go under contract is money already counted in this figure rather than money you still need.
The two lines that can really move are the title policy and the mortgage recording, because one is a premium on a policy nobody has written yet and the other depends on how many pages the instrument runs to. The settlement fee and the deed recording are what this title company charged on this land this year. The transfer tax is fixed by statute and the biggest line a Georgia buyer would expect, a tax on the note, does not exist in Arkansas at all. Who pays which line is set out in the purchase agreement, and some of it is customarily negotiated. If you would rather skip the owner’s title policy that is your call and it takes about $350 off, but it is the cheapest protection on the page and the only line here that pays you back if something is wrong with the title years from now. This land has two recorded easements on it and both are set out in full on the tract page.
Six steps. Two of them are yours to do, the rest are ours and the title company's. Nothing is binding until the purchase agreement in step 2 is signed by both sides.
One recent report, with the score on it. You pull it, you send it to Chris, and it should not cost you a dollar: your bank or credit card app almost certainly shows your FICO score for free, and the full report is free once a year from annualcreditreport.com, which is the federally mandated site and not a trial subscription in disguise.
This is the only qualifying step there is. No bank application, no income verification, no tax returns, no appraisal. Terms need a score above 650. When the down payment is assembled, a bank statement or a screenshot showing it in your own account, and that is the whole of it.
You pull it and you send it, which means the report stays in your hands and we only ever see what you choose to show us.
You · usually the same day
Chris sends you a purchase agreement carrying every number on this page, with the earnest money amount and the closing date filled in. You read it, you ask for changes, and both sides sign it. Until that is signed, neither of us owes the other anything.
Us, then you
Your earnest money goes to Waco Title Company, into their escrow account. It does not come to us and we cannot touch it. It is credited straight back to you at closing as part of your down payment, so it is not an extra cost, it is the first part of the $44,700. The amount is whatever the agreement in step 2 says, and it is negotiable.
You · within a few days of signing
This step starts from a running start. Waco Title closed the purchase of this forty in February and the sale of the neighbouring 17.29 acres in May, so they already hold the file, the chain of title and the recorded survey that created this tract. They update the search to the day, prepare the deed, the promissory note and the mortgage, and quote you the closing costs. Title insurance is underwritten by Chicago Title Insurance Company. If anything turns up on title that you should know about, you hear it from them, not from us.
Waco Title Company · Fayetteville
The balance of the $44,700, after the earnest money you already sent, plus the closing costs they quote you, which the section above puts at roughly $1,200 to $1,650 including the $500 document fee. Wired from your own account to their escrow, on their written instructions. You sign the note and the mortgage, the deed to the land goes into your name, and the deed and the mortgage are recorded in Crawford County.
You · at the closing table
The note is placed with a third-party servicer. They collect the payment, apply it to principal and interest, keep the amortization schedule and send you a statement, so everyone is working from the same ledger instead of a shoebox. You make one payment a month, $1,657.77, and it is split between the $1,632.77 that goes against the note and the $25 servicing fee. That is what makes the payoff figure something you can look up rather than something you have to ask for.
You will get a welcome notice from them with your account and payment options. Autopay is the simplest way to run it.
Both of us · at or just after closing
Wire fraud is the one real danger in this process. Criminals watch land closings, spoof the title company's email address and send fake wiring instructions, usually the day before you are due to send money. Before you wire a dollar, call Waco Title on 479-770-6700, a number you have looked up yourself rather than one taken from an email, and read the account details back to them out loud. Wiring instructions never change mid-deal, and if you ever get an email saying they have, that email is fake. Nobody on our side will ever email you wiring instructions.
Yours, at closing, subject to the mortgage. You own the land from day one and you can clear it, fence it, drill the well, put the septic in, camp on it or borrow against it. This is not a contract for deed or a rent-to-own, where the seller holds title until the last payment. The deed is recorded in your name at closing.
The servicer shows a zero balance, a release of the mortgage is recorded in Crawford County, and the land is yours free and clear. Nothing further is owed and nothing further is signed. On this note that is 96 payments, or sooner if you pay ahead.
Yes. The balance is paid off out of the sale proceeds at the closing table, the same way any mortgage is. There is no penalty for doing it in year two.
$125,200 cash, $149,000 on terms, a $23,800 difference. Carrying paper costs money and ties it up for eight years, and that is what the difference pays for. It buys you a purchase with no bank, no application, no income verification and no appraisal, on a credit report and a down payment. If you can write the cheque, write it and take $125,200. This page is for the buyer who would rather put $44,700 down and keep the rest working.
Price Road is not county maintained, and no recorded road maintenance agreement has turned up. That is the sort of thing a bank asks about on a rural loan, and some will want an agreement in place before they write one. Owner financing does not run into that question at all, which for this particular tract is a real part of what the terms are worth. The road grade is measured and published in full on the tract page, including the three pitches at 10% or steeper and the 16.1% maximum.
Noble Land Partners® is a joint venture partner on this tract. We sourced it, we commissioned the survey and the research on the tract page is ours. Title is held by our venture partner Off Grid Acres LLC, who sign the deed and carry the note until it is assigned at closing. The tract is listed by Chris Shadrick of Midwest Land Group, ArkansasOne MLS 1335884, and showings, questions and written offers all go through him. Noble Land Partners is not a licensed real estate broker and is not acting as your agent.
The septic exemption with the Arkansas Department of Health, the road maintenance position with the Crawford County Road Department, and your own driller on what a well here will cost and yield. The tract page carries our figures and where each one came from, including the recorded survey, 68 state well logs, the county's own answer on the road, and both recorded easements in full, one of which carries a no-building restriction. Do not take a single one of them from us without checking it.
Once the report from step 1 is in, the purchase agreement can be with you the same day, with the earnest money amount and a closing date written into it. From signing, an Arkansas land closing usually takes a week or two, and on this tract the title company has closed the land twice this year already, which is normally the slowest part.
If any term on this page is not what you want, say so before you spend money on step 1. The down payment, the term and the payment all move together, and we would rather rework them now than have you order a report against numbers you were never going to sign.
Everything on this tract goes through Chris. Call or text him; text gets the fastest answer.
35 closings across 24 counties in five states. Noble Land Partners® is BBB accredited with an A+ rating, 18 customer reviews averaging 5 stars, and no complaints closed in the last three years.
Noble Land Partners