I was searching the MLS for some buyer clients when I came across what looked like a great opportunity. Then I noticed a special disclosure. Because the home was being sold by an estate, the seller said they would keep marketing it even after accepting an offer. If a higher offer came in, the first buyer would have three days to match or beat it. The disclosure made it sound like this was required because the seller is a fiduciary.
In this quick video, I explain why that isn’t the case under Massachusetts law. An estate’s personal representative does have a duty to get a responsible price, but that doesn’t let them walk away from a binding agreement whenever a better offer shows up. That three-day matching clause was a special term for that particular sale, and most importantly, it’s negotiable.
Looking at an estate sale or another home with unusual terms? Call or text me at 978-494-0346 and I’ll help you understand what you’re agreeing to.
