unimproved land real estate contract

What is the name of your state (only U.S. law)? georgia**************.am in the process of purchasing a plot of land and this can be handled by fax and time is short.can I insert the phrase concerning earnest money " for the sum of $! and other valuable consideration

You can, but I'm not sure what good you think it does you. The OVC dodge isn't going to work for taxes (either income if this is investment or real estate). The tax man will substitute what they view as the FMV of the property and often you're better advised to actually indicate what you really paid (especially you're getting a deal on it).