In our last post, we discussed how real estate disputes don’t have to end up in court.  Real estate mediation can be a great alternative, and it can help you craft a mutually-beneficial solution.  However, reaching agreement through a mediation isn’t always possible.  So, let’s explore another option: real estate arbitration in Grand Rapids.

What is Real Estate Arbitration?

Real estate arbitration is a dispute resolution method outside of the court system.  The case is not resolved by a judge or jury.  Instead, both parties submit their information to an arbitrator, who reviews the case, listens to both sides, and makes a decision.

This process is less formal than court, but more rigid than real estate mediation.  Since more than a million disputes go to arbitration each year, there are several large companies that offer arbitration services.  Both sides can also agree to an independent arbitrator if they choose.

Typically, the parties will agree on a neutral space, such as a conference room, to hold the arbitration.  The ‘rules’ of the proceeding may be determined by a contract or by mutual agreement, so the specifics can vary quite a bit.

What are some of the key elements? Continue reading “Real Estate Arbitration: Alternatives to Court in Grand Rapids (Part 2)” →