Purchase And Sale Contract
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5Revised October 2012
THIS FORM HAS BEEN APPROVED BY THE KENTUCKY REAL ESTATE COMMISSION.
(THIS IS A LEGALLY BINDING CONTRACT. IF YOU DO NOT FULLY UNDERSTAND THE
TERMS OF THIS CONTRACT, CONTACT AN ATTORNEY.)
(Note that all changes to this contract must be initialed, dated, and timed to comply with state license
law.)
PURCHASE AND SALE CONTRACT
FOR LOTS AND VACANT LAND
This PURCHASE AND SALE CONTRACT (“Contract”) is being entered into on
_____________________________,
20____
(date),
as
by
and
between
__________________________________________________, (hereinafter referred to as
the “Buyer(s)”), and ______________________________________________________,
(hereinafter referred to as the “Seller(s)”).
1. PROPERTY. The property which is the subject matter of this offer is described as
follows:
________________________________________________________________________
_______________________________________________________________________,
County, Kentucky, and having a street address of
_____________________________________________________________________.
2. PURCHASE PRICE.
(I) (we) offer/will take, for the above property and upon the
conditions above named, the purchase price of ______________________ Dollars ($ ________)
payable as follows:
$
Contract Deposit
$
Additional cash on closing
$
Cash by obtaining mortgage (2A)
$
Assumption of existing mortgage (2B)
$
$
$
TOTAL PURCHASE PRICE
_____ (a) The balance of the purchase price in the amount of $ __________________________
shall be paid in cash on delivery of deed.
_____ (b)This contract is contingent upon Buyer obtaining a loan upon the following terms and
conditions unless payment is specified as all cash: A (fixed) (adjustable)
loan
to
be
amortized over
years, with maximum interest of
%
per
annum,
monthly
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_______
_______
Initials
Initials
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Parent category: Business