Buying a homeAll terms starting with R
REPC (Real Estate Purchase Contract)
Also called: utah repc, purchase contract
Utah’s standard residential purchase contract, which sets the deadlines the whole transaction runs on.
The REPC is the state-approved form used for most Utah residential purchases. It defines the price and terms and, critically, a set of dated deadlines: due diligence, financing and appraisal, and settlement.
Those deadlines drive the loan process. A financing deadline that arrives before underwriting has cleared conditions is a problem worth anticipating at the offer stage, not discovering the week it lands.
Related terms
- ContingencyA condition in the purchase contract that must be satisfied, or the buyer can withdraw without losing earnest money.
- Due diligenceThe defined window after acceptance when a buyer investigates the property and can act on what they find.
- Earnest moneyA deposit made with an offer to show the buyer is serious, held in trust and credited toward closing.
- Settlement (closing)The meeting where documents are signed, funds are disbursed, and ownership transfers.
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