Kentucky real estate: buy or sell with a local AXEN agent
Kentucky's seller disclosure only kicks in when an agent is paid, the transfer tax is small and falls on the seller, and every deed has to carry a sworn statement of the price. Here is what is the same everywhere in Kentucky, and where to search homes.
Kentucky: search homes by city
Tap a city to see the newest homes for sale there.
What every Kentucky buyer and seller should know
The disclosure form applies when an agent is paid
Kentucky's seller disclosure law covers single-family home sales when a licensed real estate agent receives a commission (KRS 324.360). The state form asks about the basement and leaks, the roof and leaks, the water supply, the sewer or septic, and whether the home's systems work.
The seller signs it when they list
The seller completes and signs the form when they sign the listing agreement. The listing agent must get a copy to you within 72 hours after receiving your written, signed offer, and you can ask for it sooner. When an agent helps with a for-sale-by-owner home, the form goes to the buyer within 120 hours after a contract is signed (KRS 324.360).
Some sales skip the form
The form is not required for a new home sold with a warranty, a sale at auction or a court-supervised foreclosure (KRS 324.360). If a seller simply refuses to fill it out, the agent has to tell you in writing without delay. That refusal is information too.
The disclosure law does not give you a way out
Kentucky's disclosure statute does not include a right to cancel the contract over what the form says or when it arrives. Your protection is the inspection and other contingencies in your purchase contract, so write them in and use them.
The transfer tax is small, and on the seller
Kentucky charges a real estate transfer tax of 50 cents for each $500 of value, which is 0.1%. The law puts it on the seller, and the county clerk collects it before the deed can be recorded (KRS 142.050).
The deed carries a sworn statement of the price
Almost every Kentucky deed must include a statement of the full price, sworn and notarized by both the seller and the buyer (KRS 382.135). The deed must also use each person's real name as it appears on their current driver's license.
The deed names who prepared it
Kentucky requires almost every recorded deed and document to show the name, address and signature of the person who prepared it (KRS 382.335). Deeds are usually prepared by a lawyer or through the title company's closing lawyer.
The homestead exemption is for seniors and the disabled
Kentucky's homestead exemption lowers the taxable value of a home owned and lived in by someone 65 or older, or someone totally disabled. It is not available to every homeowner. The amount is adjusted every two years. Apply with the county property valuation administrator.
Closing costs in Kentucky: who pays what
Who pays what in Kentucky. The transfer tax is set by law and put on the seller. The rest is custom and can be negotiated.
| Buyer pays | How it works |
|---|---|
| Lender's title policy | Only if you have a loan. Based on the loan amount. |
| Owner's title policy | Custom varies. The contract decides. |
| Closing fee | A fee from the closing lawyer or title company, often split. |
| Recording the deed and mortgage | County clerk recording fees. |
| Home inspection | A flat fee. Your main protection in Kentucky. |
| Well and septic checks | Only on homes that have them. |
| Tax proration | Your share of the year's property taxes. |
| Your own lawyer | Optional, if one is not already handling the closing. |
| Seller pays | How it works |
|---|---|
| Transfer tax | 50 cents per $500 of value, set by law. |
| Deed preparation | Usually a lawyer's flat fee. |
| Closing fee | Often split with the buyer. |
| Mortgage payoff and release | Your lender's payoff plus the fee to record the release. |
| Repairs you agree to | Only what you agree to after the inspection. |
| Listing agent's commission | Set in your listing agreement. Always negotiable. |
| Tax proration | Your share of taxes for the time you owned the home. |
| Survey | Only if the contract or lender requires one. |
Fees change. The transfer tax rate is set in KRS 142.050, and each county clerk sets its recording fees. Confirm current numbers with your closing lawyer or title company.
How a Kentucky home purchase runs
The order most Kentucky purchases follow. Your purchase contract sets the exact deadlines, so keep a calendar.
Get pre-approved →-
Get pre-approved. Know your budget and payment before you tour.
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Ask for the seller's disclosure. You can ask before you offer. It must come within 72 hours after your written offer.
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Sign the purchase contract. Include an inspection contingency.
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Inspect. This is your main protection. Add well and septic checks if they apply.
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Appraisal and loan approval. The lender orders the appraisal and finishes underwriting.
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Title work. The closing lawyer or title company examines the title and clears liens.
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Final walk-through. Check the home is in the condition you agreed to.
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Sign the deed statement. Both buyer and seller swear to the price on the deed.
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Close and record. The transfer tax is paid and the deed is recorded with the county clerk.
Kentucky by region
Kentucky markets run from the two big metros to river towns and horse country. Tap a city to see the newest homes for sale there.
Louisville area
Kentucky's largest city and its suburbs.
Lexington and the Bluegrass
Horse country around Lexington and the state capital.
South and west Kentucky
Bowling Green, Owensboro and the western river cities.
AXEN Realty in Kentucky
Every AXEN agent in Kentucky works under a licensed managing broker: Rip Phillips (AXEN Realty, LLC, firm license 307228). See every state on the state brokers page.
Buying? Start with the home buying guide and get pre-approved.
Selling? Read the home selling guide and get your home value.
Moving here? Read buying in a new state.
Kentucky real estate questions
Does the seller have to give me a disclosure form in Kentucky?
When a licensed agent is paid on the sale, yes. The seller signs the state form at listing, and the listing agent must give it to you within 72 hours after receiving your written offer. New homes with a warranty, auctions and court foreclosures are exempt.
Can I cancel because of something on the disclosure?
Not under the disclosure law itself. It does not give buyers a right to cancel. Your inspection contingency is how you walk away over problems, so make sure your contract has one.
Who pays the transfer tax in Kentucky?
The law puts it on the seller. It is 50 cents per $500 of value, or 0.1%, collected by the county clerk when the deed is recorded.
Do I need a lawyer to buy or sell a home in Kentucky?
Many Kentucky closings run through a lawyer or a title company that works with one, and deeds are usually prepared by a lawyer. Ask your agent who will prepare the deed and handle the closing.
What is the statement of consideration?
A sworn, notarized statement of the full price that both buyer and seller sign on the deed. The county uses it for the transfer tax and property records.
Can I get a homestead exemption?
Only if you are 65 or older, or totally disabled, and you own and live in the home. Apply with your county property valuation administrator.
Is a home inspection required in Kentucky?
No law requires one. The disclosure law gives you no way out on its own, so an inspection contingency in your contract is your main protection. Add a well and septic check if the home has them.
What if the seller refuses to fill out the form?
When an agent is involved, the agent must tell you in writing that the seller refused, without unreasonable delay. Treat it as a reason to inspect carefully.