Free forms. Read what they don't do.

What it does: Puts the seller-financed terms into the REPC and picks the structure: a note and trust deed, or a note and all-inclusive trust deed.

What it doesn't: Create the note or the trust deed. The form itself warns that brokers aren't qualified to ensure the financing complies with the law.

Section 1 is where you choose between a note and deed of trust and a note and all-inclusive deed of trust. The addendum lets the buyer prepay principal without penalty and has the seller provide an amortization schedule, total interest, and APR. If the deal is a wrap, the seller must show within 10 days that the underlying payments are current and disclose the underlying loan documents. If a due-on-sale clause is triggered, the buyer's payoff is credited to the note's principal. There's an option for a lender's title policy, and both sides exchange taxpayer ID numbers so interest can be reported. The addendum sets the terms; Greg drafts the note and trust deed that carry them out.

What it does: Is the state-approved trust deed for a wrap — the security instrument recorded when the seller's existing loan stays in place.

What it doesn't: Remove the due-on-sale risk on the seller's loan, or set up how the underlying loan gets paid.

This is the state-approved form, dated October 1, 1983, for the security side of a wraparound sale. Its general purpose is to secure the buyer's all-inclusive note with a recorded trust deed while the seller's own loan remains in place. It is a decades-old form, and a wrap has moving parts it can't address by itself: who pays the underlying lender, what happens if that lender accelerates, and how the buyer is protected if the seller stops paying. Greg reads the whole deal before deciding whether this form fits or whether attorney-drafted documents are the safer choice.

What it does: Is the state-approved promissory note that goes with the All Inclusive Trust Deed — the buyer's promise to pay on a wrap.

What it doesn't: Replace a servicing arrangement, or protect either side if the underlying loan is called.

This is the companion note to the All Inclusive Trust Deed, also dated October 1, 1983. Its general purpose is to record the buyer's promise to pay the seller on a wraparound sale. The note is where the money terms live — rate, payment, balloon, late charges — and those terms have to line up with the federal seller-financer rules and with the addendum. Greg drafts or reviews the note so the terms match the deal, the exclusion you're relying on, and the servicing plan.

What it does: Gives the seller a standard way to collect the buyer's financial information before agreeing to carry the note.

What it doesn't: Verify anything. A form the buyer fills out isn't a credit report or proof of income.

This state-approved form, dated January 1, 1999, is a starting point for the question every seller-lender should ask: can this buyer pay? If you rely on the three-property exclusion, you also need a good-faith determination that the buyer can repay. The sheet helps you gather information; Greg can tell you what else to ask for and how to document it so the file holds up.

What it does: Is the standard Utah purchase contract. The Seller Financing Addendum attaches to it.

What it doesn't: Contain the financing terms by itself. Licensees can't alter its boilerplate — changes go in approved addenda.

The REPC is the purchase contract; the seller financing lives in the addendum and in the documents that follow. Real estate licensees may not change the REPC's printed terms and must use approved addenda, which is why custom terms for a wrap or an unusual balloon end up in attorney-drafted documents. Greg reviews the REPC and addendum together so the deadlines and the financing terms don't contradict each other.