contracts

Real Estate Purchase Contract (REPC)

The REPC is Utah's state-approved purchase contract. Acceptance occurs when a party signs and the signature is communicated. Earnest money is due within 4 calendar days after Acceptance and must be deposited within 4 calendar days of receipt. Four Section 24 deadlines control the deal: Seller Disclosure, Due Diligence, Financing and Appraisal, and Settlement. Settlement is signing and delivering documents and non-loan funds; Closing follows when loan funds are delivered and documents recorded, within 4 calendar days after Settlement. Deadlines fall at 5:00 PM Mountain Time.

Exam tip: Settlement and Closing are not the same: Closing is when the transaction is funded and recorded. '4 to deliver, 4 to deposit, 4 to close.' Prorations are figured as of the Settlement Deadline.
Example: Acceptance occurs June 3, so earnest money is due June 7; Settlement is July 15 and funding and recording on July 16 make Closing July 16.

Related terms & state variants

earnest money purchase agreement time is of the essence State-Approved Forms (Utah) (UT)

Sources

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Last verified: 2026-10-23