Review of REPC Updates and Changes to Related Forms

Along with the REPC, a number of other Division of Real Estate forms and Utah Association of REALTORS® (UAR) forms have also been updated. All these forms will be available Nov. 1 at the earliest. Since there are so many updates, please be patient with your preferred forms vendor as they make these available.

Below is a list of each form update along with a brief explanation of the changes. Click on the form name to see a watermarked, highlighted version of the form. Many of the updates were minor in nature and correspond with section updates in the REPC.

Utah Division of Real Estate Forms

1. Utah Real Estate Purchase Contract (REPC)  —  See video links below for explanations from Kreg Wagner, legal counsel for UAR, and Peter Christensen, CEO of the Utah Central Association of REALTORS®.
2. Deposit Earnest Money with Title Company Addendum— Updates in formatting and clarification about the timing for delivery and deposit of earnest money with title company.
3. FHA/VA Loan Addendum — Updates to remove closing cost language and to add language about the right of a buyer to cancel if the appraisal requires repair costs that exceed the amount the seller has agreed to make.
4. Seller Financing Addendum — Minor updates to correspond with the new REPC sections.

Utah Association of REALTORS® Forms*

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1. Seller Property Condition Disclosure Form — Minor update to correspond with the new REPC sections.
2. Resolution of Due Diligence Addendum — Minor updates about closing costs to correspond with the new REPC sections and language about waiving due diligence.
3. Buyers Notice of Cancellation Form — Minor updates to correspond with the new REPC sections.
4. Subject-to-Sale-Buyers-Property Addendum — Minor updates to correspond with the new REPC sections.
5. Contingent Cancellation Addendum — Minor updates to correspond with the new REPC sections.
6. Short-Term Leaseback Addendum — Minor updates to correspond with the new REPC sections.
7. Short Sale Addendum — Minor updates to correspond with the new REPC sections.
8. Seller’s Notice of Cancellation — Minor updates to correspond with the new REPC sections.
9. Acknowlegement of 3rd Party Approval Addendum — Minor updates to correspond with the new REPC sections.
10. Secondary Backup Offer Addendum — Minor updates to correspond with the new REPC sections.

Please look for educational opportunities with your brokerage and/or your local board. Many are already offering instruction on the new REPC changes. Or give us a call on the UAR Legal Hotline at 801-676-5211 if you have any questions.