Page six of the Utah Real Estate Purchase Contract has four blank lines, each holding one date. Those four dates decide whether a buyer who backs out gets their earnest money back, gets part of it back, or loses all of it. The rest of the contract is mostly about what happens on those dates.
This guide is about the calendar: what each deadline does, how the form counts days, and where buyers lose deposits. It follows the REPC posted on the Utah Division of Real Estate's state-approved forms page, marked effective December 4, 2024. It is general information, not legal advice; your contract's actual dates and addenda control. For a section-by-section tour of the whole form, see our guide to the Utah REPC, explained.
Three counting rules that override your instincts
Before the four dates, the clock itself. Section 21, "Time Is of the Essence," sets the rules.
5:00 p.m. Mountain Time. Every dated obligation is due by 5:00 p.m. Mountain Time on that date, unless the contract explicitly says otherwise. Not midnight. Not "end of business" in some other time zone.
Calendar days, starting tomorrow. "Days" and "calendar days" both mean calendar days, counted from the day after the triggering event. If Acceptance happens on a Monday, Tuesday is day one.
No weekend rollover. The form has no clause moving a deadline that falls on a weekend or holiday. Saturdays count. Sundays count. Christmas counts.
One more rule decides what "meeting" a deadline means. Section 18 says notices must be in writing, signed by the buyer or seller giving them, and received by the other party, their agent or their brokerage by the deadline. A phone call does not cancel a contract. A text from your agent that you never signed is risky ground.
The starting gun: Acceptance
Most of the short fuses in the REPC run from Acceptance, which Section 23 defines as two things together: one party signed the offer or counteroffer where noted, and that party or their agent communicated the signing to the other side or the other side's agent.
The four Section 24 deadlines are written as calendar dates, not day counts, so they do not move if Acceptance slips a day. But two built-in clocks do run from Acceptance:
- Earnest money delivery: the buyer delivers the deposit no later than four calendar days after Acceptance.
- Brokerage deposit: after Acceptance and receipt of the money, the brokerage has four calendar days to place it in its real estate trust account.
Deadline one: Seller Disclosure
By this date the seller delivers the documents listed in Section 7: the property condition disclosure, the lead-based paint disclosure for pre-1978 homes, the title commitment, CC&Rs and HOA rules, the HOA's minutes, budget and financials, any leases and management agreements, evidence of water rights, written notice of known environmental problems or code violations, and a FIRPTA notice if the seller is a foreign person.
This is the seller's deadline, and it shapes the buyer's. Every day the disclosures arrive late is a day taken out of the buyer's due diligence window, because the Due Diligence Deadline does not move on its own. A buyer whose HOA financials arrive two days before the Due Diligence Deadline has two days to read them. If that happens, ask for a written extension rather than reading faster.
Our guide to seller disclosures in Utah explains what these documents must and need not contain.
Deadline two: Due Diligence
This is the big one. If Section 8.1's due diligence condition applies, the buyer may investigate almost anything about the property, at their own expense, and by the Due Diligence Deadline must do one of two things in writing:
- Cancel, in which case the earnest money "shall be released to Buyer without the requirement of further written authorization from Seller," or
- Resolve objections with the seller, such as a repair, a credit or a price change.
If the buyer does neither, Section 8.1(c) says the buyer is "deemed to have waived the Due Diligence Condition," and the earnest money becomes non-refundable except as the appraisal and financing conditions still allow.
Read that carefully, because it is where deposits die. Sending an objection is not the same as resolving it. If the buyer sends a repair request on day eight and the seller has not agreed in writing by the deadline, the buyer has not resolved anything. Unless the buyer cancels or gets a signed extension by 5:00 p.m., the condition is waived. Buyers who are mid-negotiation at the deadline should either get a signed extension or send a written cancellation and keep talking.
What fills this window: the general home inspection, plus any specialist checks the house calls for. Our guide to inspections and appraisals in Utah Valley covers the local add-ons, including sewer scopes. Utah has no law requiring a radon test at resale, according to the state Department of Environmental Quality, so if you want one, it happens here. For homes built before 1978, the federal lead disclosure form gives the buyer a 10-day opportunity (or another agreed period) to test for lead-based paint unless the buyer waives it, and the state's Lead-Based Paint Addendum sets its own Risk Assessment Deadline and response period. The due diligence list also names things that are not physical: insurance cost, HOA dues, regulatory use restrictions. If you plan to rent a basement apartment, this is when you confirm with the city that it is legal. Our house-hacking guide explains how.
Deadline three: Financing and Appraisal
Two conditions share this date.
The appraisal condition (8.2), if checked, lets the buyer cancel and recover the deposit after receiving written notice from the lender or appraiser that the property appraised for less than the price. The buyer must deliver the cancellation, with a copy of that notice, by the Financing and Appraisal Deadline. If no cancellation arrives, the condition is waived.
The financing condition (8.3), if financing is required, has three parts, and this is where the money splits:
- Before the deadline, unhappy with loan terms (8.3(b)(i)). After the Due Diligence Deadline and by the Financing and Appraisal Deadline, a buyer who is not satisfied with the loan's terms "in Buyer's sole discretion" may cancel. A dollar amount filled into a blank in that paragraph goes to the seller, and the rest of the deposit goes back to the buyer.
- After the deadline, the loan never funds (8.3(b)(ii)). If the deadline passes and the lender never delivers the money to escrow, the buyer is not obligated to buy, and either side may cancel.
- What the seller gets then (8.3(b)(iii)). In that case, all of the earnest money goes to the seller as liquidated damages, the seller's exclusive remedy.
Put plainly: the Financing and Appraisal Deadline is the last day a nervous buyer can exit with most of their deposit. After it, a loan that collapses in underwriting costs the whole deposit, even though the buyer did nothing wrong.
That is why buyers should hand the contract dates to their loan officer the day the offer is accepted and ask a direct question a week before this deadline: is anything still outstanding that could stop this loan? Section 21 reminds everyone that lenders and appraisers are not bound by your dates. If underwriting is behind, ask the seller for a written extension before 5:00 p.m. on the deadline, not after.
FHA and VA buyers have one extra protection. The state-approved FHA/VA Loan Addendum says that, notwithstanding the Financing and Appraisal Deadline, the buyer is not obligated to complete the purchase or forfeit the deposit if the price exceeds the FHA appraised value or the VA's reasonable value. Our guide to FHA, VA and USDA loans in Utah County covers that addendum.
Deadline four: Settlement
By the Settlement Deadline, both sides must sign and deliver their documents and pay in their funds. Prorations of taxes, HOA dues and rents are calculated as of this date unless agreed otherwise. Closing, which adds loan funding and recording at the county, then has up to four more calendar days. Possession follows Recording, on the schedule checked in Section 3.3.
A buyer who misses settlement without a written extension is in default, and Section 16 gives the seller the choice of keeping the earnest money as liquidated damages, suing to enforce the contract, or returning the deposit and pursuing other remedies.
A sample calendar, built on a real month
Here is how the dates might sit on a November 2026 contract. The day counts below are illustrations chosen for this example, not standards; every contract's dates are negotiated.
| Event | Date | Weekday | What happens |
|---|---|---|---|
| Acceptance | Nov 2 | Monday | Clock starts Tuesday |
| Earnest money due | Nov 6 | Friday | Four calendar days after Acceptance |
| Seller Disclosure Deadline | Nov 9 | Monday | Seller's documents due by 5 p.m. |
| Due Diligence Deadline | Nov 16 | Monday | Cancel or resolve in writing by 5 p.m. |
| Financing & Appraisal Deadline | Nov 26 | Thursday | Thanksgiving; still due by 5 p.m. |
| Settlement Deadline | Dec 7 | Monday | Sign and fund |
Two things in that calendar deserve a second look. The disclosures arrive on November 9, leaving the buyer one week to inspect and negotiate before the Due Diligence Deadline. And the Financing and Appraisal Deadline lands on Thanksgiving Day, when the lender, the appraiser and possibly both agents are off. The contract does not care. In real life, a buyer would either pick a different date at the offer stage or plan to have the loan cleared, or an extension signed, by the Wednesday before.
The deposit itself: where it sits and how it comes back
Who holds it. By default, the buyer's brokerage, in its real estate trust account. Utah's administrative rule on brokerage trust accounts, R162-2f-403a, says a principal broker may disburse trust money only according to the contract, written authorization of the parties, the rule itself or a court order.
When a deal fails. Under the same rule, a broker may not release earnest money from a failed transaction unless a contract condition authorizing it has occurred, or the parties sign a separate agreement with instructions. That is why a clean, timely written cancellation under Section 8.1 matters so much: it is the "contract condition" that lets the broker send the money back without the seller's signature.
When both sides claim it. If both buyer and seller make written claims and the broker cannot tell from the signed documents who is right, the rule lets the broker, within 15 days of notice that both claim the funds, refer the parties to mediation if no lawsuit has been filed and they agreed to mediate, or interplead the money into court. The REPC's Section 15 decides whether mediation is mandatory ("shall") or optional ("may").
If a title company holds it instead. The Division's state-approved title company earnest money addendum carries a warning in capital letters: the title company may require both buyer and seller to authorize release, even if the REPC says no further authorization is needed, which "may result in additional delays and costs," and the Division of Real Estate has no authority over the title company's release of the funds. Without a brokerage in the deal, a title company is the obvious place to hold the money. It is not a shortcut around a dispute.
Where Utah buyers lose deposits
These are the patterns the contract language sets up. None of them requires bad faith.
Negotiating past the deadline. The seller says "we're working on it," the agents trade emails, and 5:00 p.m. passes with no signed resolution and no cancellation. The condition is gone.
Counting from the wrong day. Someone counts Acceptance day as day one, or assumes Saturday does not count. The form counts from the day after, and every day counts.
Assuming the lender is on the same calendar. The appraisal is ordered late, the report comes back after the Financing and Appraisal Deadline, and the buyer has lost the right to cancel over it.
Leaving the 8.3(b)(i) blank unconsidered. That dollar figure is what the seller keeps if the buyer walks over loan terms before the deadline. Choose it on purpose.
Missing a short appraisal notice requirement. Canceling under the appraisal condition requires a copy of the written notice of appraised value. Get that document from the lender as soon as the appraisal is in.
A deadline checklist for buyers
- When the contract is accepted, put all four Section 24 dates in your phone with a reminder two days before each.
- Email the dates to your loan officer the same day.
- Book the inspector before the Seller Disclosure Deadline, not after.
- Decide your walk-away issues before the inspection report arrives.
- Know your agent's plan for a signed extension if anything runs late.
- Get every resolution, extension and cancellation signed, in writing.
If this is your first purchase, our Provo buying guide and our guide to shopping a mortgage lender in Utah cover the steps around this calendar: who to talk to before you write the offer, and how to pick a lender who will hit these dates. Our guide to closing costs and title insurance covers what settlement day costs.
Frequently Asked Questions
What time is a Utah REPC deadline?
Do weekends and holidays count toward REPC deadlines?
When does my earnest money become non-refundable in Utah?
Can I get my earnest money back if my loan falls through?
How do I extend a deadline in a Utah REPC?
What happens if the buyer and seller both claim the earnest money?
Is it safer to have a title company hold the earnest money?
Do REPC deadlines bind my lender or the appraiser?
Sources
The facts in this guide were checked against these sources. Hours, fees and rules change, so confirm anything time-sensitive with the source before you go. How we make Provo.com.
- State Approved Forms, Utah Division of Real Estate. Checked October 19, 2026.
- Radon and Real Estate Transactions in Utah, Utah Department of Environmental Quality. Checked October 19, 2026.
- Utah Admin. Code R162-2f-403a, Trust Accounts, Cornell LII. Checked October 19, 2026.
- Real Estate Purchase Contract (effective Dec. 4, 2024), Utah Division of Real Estate. Checked October 19, 2026.
- Deposit of Earnest Money with Title Insurance Company Addendum, Utah Division of Real Estate. Checked October 19, 2026.
- FHA/VA Loan Addendum, Utah Division of Real Estate. Checked October 19, 2026.
- Lead-Based Paint Addendum, Utah Division of Real Estate. Checked October 19, 2026.
