UT Real Estate Purchase Contract 2008 free printable template

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. If you desire legal or tax advice consult your attorney or tax advisor. OFFER TO PURCHASE AND EARNEST MONEY DEPOSIT On this day of 20 Offer Reference Date Buyer offers to purchase from Seller the Property described below and delivers to the...

How to fill out UT Real Estate Purchase Contract

How to fill out UT Real Estate Purchase Contract

1. Start by entering the date when the contract is being filled out.
2. Provide the names and contact information of both the Buyer and Seller.
3. Specify the property address and legal description of the property being sold.
4. Indicate the purchase price and any earnest money deposit.
5. Outline the terms of financing, including the type of loan and any contingencies.
6. Include the closing date and any necessary conditions that need to be met prior to closing.
7. Detail any items included in the sale (appliances, fixtures, etc.).
8. Ensure to review and understand the inspection, disclosure, and title issues clauses.
9. Sign and date the contract at the end, and make sure both parties receive copies.

Who needs UT Real Estate Purchase Contract?

1. Individuals looking to buy or sell residential real estate in Utah.
2. Real estate agents and brokers involved in transactions within Utah.
3. Investors seeking to acquire properties in Utah.
4. Legal representatives assisting clients with property transactions.

Instructions and Help about UT Real Estate Purchase Contract

This is Sharon born Holt and I wanted to take just a couple of minutes today and talk about the sales and purchase agreement I get so many questions about filling out one of these contracts, and it's really very simple what I have here is the actual agreement that I use in my business it was drafted by my closing attorney, and it is the one that he uses when he buys an investment property it is drop-dead simple to use it is a one-page very simple contract and in Kentucky you any well anyone can use this sort of form now if you are a licensed real estate agent then you are probably going to have to use board of realtor forms, and we also have an investor form here for that, but I'm going to go through this quickly I have a little disclaimer that I'm in the state of Kentucky so be sure to check with your attorney or your closing people and be sure that this form is okay to use in your state so the first thing that we do is to of course fill in the date you want to have the date that you are signing the contract of filling out the contract put that date up there and then this next part says that they give the described property, and they will list the deed book in the page now you don't have to fill that out your closing company can fill that out I usually go ahead and put it in here for the to be closing it's listed on our PVA or tax assessor site, so I will put that in there now you wouldn't put that in there if you're double closing for the BTC closing because you won't know what that is until the to be closing is actually recorded so until you get used to doing this I would just leave that blank because they're going to check that anyway so then next I put my accounting which is Jefferson County in the state of Kentucky you would need to fill in that blank and these are things that I have plugged into my form, so they say stay there, and I've highlighted them just so that's a little easier for you to read now I always buy property in a Land Trust and I always buy it in the address of the property so in this instance I have put 1 2 3 Main Street Land Trust Louisville Kentucky 402 4 1 the reason I do that is because if you start naming your land trusts something like the blue dollar Land Trust and the red farmland trust and all of that you will never be able to figure out down the road if you need to get your hands on these contracts or these pieces of paper what the heck they are, so it's just easy to name them in this manner you really don't want to be buying property in your personal name anyway for liability reasons, so the next thing is how much am I paying the sum of, and I just put $50,000 in here for adjust the amount, so you want to spell it out, and you want to have numbers for clarification this stays in my contract how am I going to pay them for the property all cash your closing you put this in if it doesn't matter if you're getting money from a private lender if you're using a duster friendly bank you're using your IRA doesn't...

People Also Ask about

Does the buyer have the right to cancel the repc if the appraised value comes in at less than what the purchase price is?

If after completion of an appraisal by a licensed appraiser, Buyer receives written notice from the Lender or the appraiser that the Property has appraised for less than the Purchase Price (a “Notice of Appraised Value”), Buyer may cancel the REPC by providing written notice to Seller (with a copy of the Notice of

What is the purpose of Section 5 in the REPC?

The purpose of Section 5 in the REPC is to: Reiterate relationship already established.

What is a bill of sale for personal property in Utah?

A Utah general bill of sale is a document utilized by two (2) private parties that records and proves the sale and purchase of a piece of personal property. The document provides information about the buyer, the seller, the change of ownership, and the property itself. This form needs notarization.

What is a contract to purchase real estate?

A real estate purchase agreement is a legally binding agreement that governs the purchase and sale of a property. Made between a buyer and seller, it defines the terms of the transaction and the conditions under which a sale will occur.

What is a Utah real estate purchase contract?

Updated July 30, 2022. A Utah residential purchase and sale agreement is a contract used when a buyer makes an offer to purchase real estate from a willing seller.

What is a legally binding contract between buyer and seller?

A purchase agreement is a legal document that is signed by both the buyer and the seller. Once it is signed by both parties, it is a legally binding contract. The seller can only accept the offer by signing the document, not by just providing the goods.

What makes a binding contract in real estate?

A legally binding real estate contract must be signed by all parties involved and something of value must be exchanged. A handshake alone is not sufficient to legally seal an agreement. In addition to signatures, a contract must be sealed with a tangible commodity—such as cash, goods or services.

Can you write your own bill of sale in Utah?

The bill of sale can be handwritten or typed/printed, but it should be in ink, not pencil. If desired, you can use the TC-843, Bill of Sale provided by the DMV.

Is Utah REPC a legally binding 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.

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What is UT Real Estate Purchase Contract?

The UT Real Estate Purchase Contract is a legal document used in the state of Utah to outline the terms and conditions under which a real estate transfer takes place between a buyer and a seller.

Who is required to file UT Real Estate Purchase Contract?

Typically, the buyer and seller involved in the real estate transaction are required to execute and file the UT Real Estate Purchase Contract. Agents or brokers may also be involved in the process.

How to fill out UT Real Estate Purchase Contract?

To fill out the UT Real Estate Purchase Contract, parties should provide essential details such as the property description, purchase price, financing terms, contingencies, and dates. It's advisable to seek assistance from a real estate agent or attorney.

What is the purpose of UT Real Estate Purchase Contract?

The purpose of the UT Real Estate Purchase Contract is to serve as a binding agreement between the buyer and seller, detailing the terms of the sale and protecting the rights and responsibilities of both parties during the transaction.

What information must be reported on UT Real Estate Purchase Contract?

The UT Real Estate Purchase Contract must include information such as the names of the parties, property address, purchase price, deposit amount, financing details, contingencies, closing date, and any specific terms related to the transaction.