My question involves real estate located in the State of: Massachusetts
I am trying to make an offer on a house, which is an estate sale. As I understand, the executor of the will has a duty to accept the highest offer up to the closing date. My concern is, that the seller signs the offer to purchase with me (and possibly later purchase and sales agreement), I pay for home inspection and mortgage fees (appriasal, application fee etc.), and at the last moment the seller gets higher offer.
I have included the following phrase in the OTP "If Seller terminates this offer, Seller agrees to reimburse Buyer for all costs associated with Home Inspections and all Mortgage-related costs, that the Buyer incurs to the date of termination", but I am concerned whether it is really binding for the seller in this case.
Could someone, please, advise me how to protect myself against a possible loss of those costs if the seller accepts another offer before I am able to close the mortgage? I don't want to lose about 1500$ in fees and end up with a mortgage that I could not use.