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Utah real estate purchase contract for land

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PROPERTY also described as City of County of State of Utah ZIP the Property. 1. 1 Included Items. specify 1. 2 Water Rights/Water Shares. The following water rights and/or water shares are included in the Purchase Price. Shares of Stock in the Name of Water Company. Other specify 2. PURCHASE PRICE The purchase price for the Property is The purchase price will be paid as follows a Earnest Money Deposit. Under certain conditions described in this Contract THIS DEPOSIT MAY BECOME TOTALLY NON REFU ...

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What are the four types of legal contracts real estate?

There are essentially four types of real estate contracts: purchase agreement contracts, contracts for deed, lease agreements, and power of attorney contracts.

Is the Utah REPC a legally binding contract?

This is a legally binding Real Estate Purchase Contract (\u201cREPC\u201d). 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.

Can I sell a house I'm paying for on land contract?

You can sell your house on a land contract with an outstanding loan balance if your lender agrees and if the contract doesn't have a due-on-sale clause.

Who is REPC?

A REPC (pronounced REP C) is the Real Estate Purchase Contract. This document outlines the terms and conditions of a purchase of real estate. It lists the buyer(s) and seller(s), agent(s), purchase price, concessions, what comes with the home, deadlines, contingencies and other legal contractual goodies.

Can a seller cancel a real estate contract in Utah?

Yes, you can, if your contract has the right contingencies built in and you don't wait too long. The seller can, too. Your contract to purchase the home likely includes a contingency clause that states both the buyer, as well as the lender, must sign off on the home inspection and the appraisal.

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What makes a contract enforceable in real estate?

A contract must be signed by both parties involved in the purchase and sale of a property to be legally enforceable. All parties signing must be of legal age and must enter into the contract voluntarily, not by force, to be enforceable.

Which of the following is a disadvantage for a seller in a land contract?

Disadvantage #1: The title does not automatically pass to the purchaser in a land contract. Disadvantage #2: The seller could be held legally responsible for inspection issues with local or state authorities. Disadvantage #3: Forfeiture of a land contract by the purchaser is a fairly common occurrence.

What is a land contract in Utah?

A Utah land contract records the terms in a vacant land transaction for residential or commercial lots. The contract stipulates financial provisions applicable to the real estate transfer and any diligence periods before closing.

Can a seller back out of a real estate contract Utah?

In Utah, a seller can get out of a real estate contract if the buyer's contingencies are not met\u2014these include financial, appraisal, inspection, insurance, or home sale contingencies agreed to in the contract. Sellers might have additional exit opportunities with unique situations also such as an estate sale.

What makes a real estate contract invalid?

A party was coercing or threatening the other party into signing the agreement. A party was under undue influence (one party dominated the will of another) Mistakes are present in the contract that affect whether one or both parties can carry out their obligations. A party breaches the terms of the contract.

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What are the four types of legal contracts real estate?

Is the Utah REPC a legally binding contract?

Can I sell a house I'm paying for on land contract?

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Can a seller cancel a real estate contract in Utah?

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People also ask

What makes a contract enforceable in real estate?

Which of the following is a disadvantage for a seller in a land contract?

What is a land contract in Utah?

Can a seller back out of a real estate contract Utah?

What makes a real estate contract invalid?

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Get the up-to-date utah land repc 2024 now

Here's how it works

The fastest way to redact Utah land repc online

Complete this form in 5 minutes or less

Got questions?

What are the four types of legal contracts real estate?

Is the Utah REPC a legally binding contract?

Can I sell a house I'm paying for on land contract?

Who is REPC?

Can a seller cancel a real estate contract in Utah?

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Complete this form in 5 minutes or less

People also ask

What makes a contract enforceable in real estate?

Which of the following is a disadvantage for a seller in a land contract?

What is a land contract in Utah?

Can a seller back out of a real estate contract Utah?

What makes a real estate contract invalid?

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