Uniform Sales and Purchase Contract

[RALynn]

What is the name of your state? Kentucky

My husband and I are in the process of buying a farm in W. Kentucky. We, as well as the seller, have already signed the Uniform sales and Purchase Contract from the realtor. The problem is this, the land according to the deed was approx. 90 acres. After a new survey, we found that there are actually 125 acres. According to our original contract, the seller was to sell this land at a set price. The contract reads, "Buyer accepts property as 90 acres more or less for price of $***."
Now that there is more acreage the seller wants to raise the price of the farm. So my question is -- is the seller bound to the original contract? Thanks

 

[HomeGuru]

Yes based on the more or less.

 

[RALynn]

I just heard from the realtor and she said that the "more or less" in the contract would not hold up in court. It only applies to a few acres not an extra 35acres. Is this true?????

 

[HomeGuru]

I don't know since I am not familiar with Kentucky case law.

What I do know though is the contract would have no room for questions if it was written say "sales price at 90 acres at $XX/acre. Upon completion of the survey, should the survey prove that the acreage is more or less than 90 acres, the sales price would be calculated at the per acre price above times the number of actual acres."
In my opinion, the Seller failed to get a survey and agreed in writing to a fixed sales price.
In general, this is a situation for mediation.