Real estate disputes can happen for any number of reasons.
It might be that the seller of a home failed to disclose issues with the neighborhood sewer system. Or a boundary dispute. Or a disagreement between two co-owners.
And when these disagreements can’t be easily resolved, they often transform into lawsuits. But there’s an alternative to letting real estate disputes devolve into drawn out court cases: real estate mediation. Mediation is a form or Alternate Dispute Resolution. Unlike arbitration, which is another form of Alternate Dispute Resolution, mediation is voluntary.
Most real estate contracts now include terms that require mediation before the parties can initiate an action in court. Before bringing suit or before proceeding to arbitration, the buyer and the seller will agree upon a mediator to help them reach a settlement.
If you are about to begin real estate mediation, here are some things you can do to prepare: