real estate education

Note: This is part 1 of our articles on the Utah REPC 2027 updates. See the continuing articles for more details. Find Approved CE for 2027 REPC Article by Danny Naylor, President of the Institute of Real Estate Education Introduction Utah has approved a new Real Estate Purchase Contract, commonly called the REPC. The new form was approved on August 19, 2026, may be used during the transition period, and becomes the required state-approved form for new offers beginning January 1, 2027. Before examining the contract page by page, it is helpful to understand where a state-approved form comes [...]

Note: This is part 2 of our articles on the Utah REPC 2027 updates. See the previous articles for more details. Find Approved CE for 2027 REPC The Contract's Most Important Organizational Change The biggest visible change in the 2027 REPC is the decision to move nearly all fillable and negotiable terms to the front of the contract. Page one now concentrates the information that changes from offer to offer: purchase price, sources of funds, seller contributions, home warranty, buyer conditions, deadlines, and possession. The standard explanatory language still appears later in the REPC. Page one is not a [...]

Note: This is part 3 of our articles on the Utah REPC 2027 updates. See the previous articles for more details. Find Approved CE for 2027 REPC Earnest Money Moves to the Top of Page Two Most negotiable terms were moved to page one, but earnest money did not fit. It now appears at the top of page two, followed by the addenda section. That keeps the remaining deal-specific entries easy to find. The buyer still has four calendar days after acceptance to deliver earnest money under the REPC, and the brokerage has 4 calendar days make the deposit. [...]

Note: This is part 4 of our articles on the Utah REPC 2027 updates. See the previous articles for more details. Find Approved CE for 2027 REPC Page Three Explains the Numbers Entered Earlier Page three contains more standard contract language and fewer fillable blanks. Its job is to explain several economic terms entered on page one and define what happens at settlement, closing, and possession. View the 2027 REPC With Changes Seller Contribution Toward Buyer-Broker Compensation If the seller's compensation contribution exceeds the amount due under the written buyer-broker agreement, the excess is returned to the seller. [...]

Note: This is part 5 of our articles on the Utah REPC 2027 updates. See the previous articles for more details. Find Approved CE for 2027 REPC Title and the Buyer's Conditions Most title-insurance language remains familiar. The revised text makes clear that title obligations remain subject to the buyer's rights under the conditions-of-purchase section. Agents should read the provisions together rather than assuming that the title section operates independently from the buyer's elected conditions. View the 2027 REPC With Changes Expanded HOA Disclosures The seller-disclosure provisions require more useful HOA information. In addition to governing documents, minutes, [...]

Note: This is part 6 of our articles on the Utah REPC 2027 updates. See the previous articles for more details. Find Approved CE for 2027 REPC A Shorter Financing Section The financing condition is substantially shorter because the negotiable earnest-money selection has moved to page one. Page five now directs the parties back to the percentage chosen in the front-page financing terms. If the buyer cancels in accordance with the financing condition, earnest money is released according to that selection. If the parties left the selection incomplete, the contract's default may control. This is why the page-one percentage [...]

Note: This is part 7 of our articles on the Utah REPC 2027 updates. See the previous articles for more details. Find Approved CE for 2027 REPC Mediation Becomes Optional Under the Printed Form The prior form allowed a choice involving whether the parties would or could mediate. The 2027 REPC removes that election and provides that mediation may occur at the option of the parties. For many transactions, the change may have little practical effect. In a transaction where the parties want mediation to be mandatory before litigation, they may need additional contract language. Because dispute-resolution provisions affect [...]

Note: This is part 8 of our articles on the Utah REPC 2027 updates. See the previous articles for more details. Find Approved CE for 2027 REPC Time Is Still of the Essence The REPC continues to state that time is of the essence. Contract dates and times are not suggestions; they determine when parties must perform and when rights may expire. The 2027 form adds a practical exception for specified deadlines. If the deadline for earnest-money delivery, earnest-money deposit, or settlement falls on a Saturday, Sunday, or legal holiday, performance is required on the next business day. This [...]