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Kentucky Residential Purchase and Sale Agreement

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Kentucky Residential Purchase and Sale Agreement

Updated September 20, 2023

A Kentucky residential purchase and sale agreement is a legal document that binds a seller and a buyer to the terms regarding the transfer of real estate. The agreement will relay the nature of the piece of property transferring ownership, the amount of money to be paid to the seller, the manner in which the buyer will produce the compensation, and all other details which clarify the rights and responsibilities of both parties.

It is required that, before an agreement is signed and a price is discussed, the potential buyer receives a disclosure of the property condition that includes details of any material issues or defects known to the seller.

Table of Contents

Other Versions (2)

Kentucky Association of Realtors

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Kentucky Real Estate Commission (KREC) Version

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Disclosures (2)

Lead-Based Paint Disclosure – It is required that the seller of a building constructed prior to 1978 provide all potential buyers with a lead-based paint disclosure statement that details any toxic paint used on the premises at any time.

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Seller’s Disclosure of Property Condition (§ 324.360) – As Kentucky is not a buyer beware state, the seller of a residential property must provide the buyer with full disclosure of the condition of the property prior to signing a purchase agreement.

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Commercial Property

Commercial Purchase AgreementUse as a legal contract to purchase or sell commercial property.

Download: PDF, MS Word, OpenDocument