Asked by: Sally Eisen
asked in category: General Last Updated: 14th April, 2020

What is REPC?

A REPC (pronounced REP C) is the Real Estate Purchase Contract. This document outlines the terms and conditions of a purchase of real estate. It lists the buyer(s) and seller(s), agent(s), purchase price, concessions, what comes with the home, deadlines, contingencies and other legal contractual goodies.

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In this way, what is a REPC in real estate?

Date. REAL ESTATE PURCHASE CONTRACT. This is a legally binding Real Estate Purchase Contract (“REPC”). Utah law requires real estate licensees to use this form. Buyer and Seller, however, may agree to alter or delete its provisions or to use a different form.

Similarly, what is a uniform real estate contract? Rather than receive title to the home up front, the buyer would sign a Uniform Real Estate Contract (also known as an installment contract, or a contract for deed), pursuant to which the buyer would move into the home and make payments to the seller over time.

Furthermore, is earnest money refundable in Utah?

The Process: Earnest Money is submitted to an escrow company with the accepted purchase contract. At the close of escrow, the EMD is credited towards the down payment and / or closing costs. If there are no closing costs or down payment, the EMD is refunded back to the buyer.

Who fills out purchase agreement in real estate?

These are available through real estate agents and online legal document providers. Fill in your name as the "buyer" on the purchase contract, as well as the amount of money you wish to put down on the home, and in what form the money will be, such as cash, cashier's check or personal check.

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