REPC Underwriting Questions

We know that you, the Realtor, are in the driver’s seat when it comes to the contract. We also know that underwriters can be particular.

Here are the answers to our most frequently asked REPC Questions.

This is not legal advice.

Seller Concessions

There are several ways to complete this addendum, but the standard form shown in the video offers the greatest flexibility and is the most widely accepted. In our experience, underwriters tend to be most particular about these when a temporary buydown is involved.

Earnest Money Deposit Addendum

To ensure earnest money is held by a neutral third party rather than a brokerage, many of our trusted realtor partners use a specific addendum that clearly designates a title company as the holder of earnest funds. We're sharing the version most favored by underwriters for its clarity and consistency.

This addendum—available as a standard form on the MLS—formally documents that the earnest money will be held at a specified title company. Including this in the contract provides transparency for all parties involved and ensures the terms are clearly outlined and understood.

Personal Property Addendum

When personal property items such as a playset, chicken coop, or shed are included, an addendum is used to clarify that they are being transferred with the home at no additional value. If the buyer is purchasing the item separately, a separate Bill of Sale—independent of the REPC—should be used.

FHA Loans

There are certain addenda that must be present in an FHA loan.

VA Loans

There are certain addenda that must be present in a VA loan.