When a real estate dispute arises, the delays associated with sorting the issue out can be costly, time-consuming, and stressful. So, how can you get through them more expeditiously?
While you might be able to resolve the matter informally by simply talking through the problem with the other side, this approach often proves unsuccessful. Although full-blown litigation is an option you can explore, it probably won’t help you avoid the time and financial ramifications that you’re hoping to sidestep. That said, in some instances litigation may be your only option. Otherwise, what other direction can you go?
The benefits of mediating a real estate dispute
Mediation could be a great option for you. Here, a neutral third-party facilitates discussion about the issues at hand, guiding the parties toward a fair resolution. The benefits of mediation include:
- Cost-effectiveness achieved by avoiding court costs, legal fees, and other expenses associated with litigation.
- Efficiency in reaching resolution, as mediation could help you avoid the additional months or even years it could take for your real estate dispute to wind its way through the court system.
- Preservation of existing relationships, which could be key if you hope to retain ties to the other side, such as when a business dispute involves another business that you want to continue working with.
- Confidentiality, something that formal litigation won’t provide.
- Flexibility in crafting a resolution that makes the most sense for you, which gives you control of your outcome instead of leaving it in the hands of a judge who doesn’t know you.
What’s the best path forward for your real estate dispute?
That’s a question that only you can answer. However, before moving forward with your real estate dispute, it’s a good idea to have a sense of your options as well as the risks and potential rewards of each. By doing so, you’ll hopefully drive towards resolution that’s fair and favorable.