{"id":2408,"date":"2016-07-20T17:13:29","date_gmt":"2016-07-20T17:13:29","guid":{"rendered":"http:\/\/thehoneybeehomes.com\/home\/?p=2408"},"modified":"2024-11-26T11:16:25","modified_gmt":"2024-11-26T11:16:25","slug":"real-estate-arbitration","status":"publish","type":"post","link":"https:\/\/thehoneybeehomes.com\/home\/real-estate-arbitration\/","title":{"rendered":"Real Estate Arbitration: Alternatives to Court in Grand Rapids (Part 2)"},"content":{"rendered":"

\"Real<\/a>In our last post, we discussed how real estate disputes don’t have to end up in court. \u00a0Real estate mediation<\/a> can be a great alternative,\u00a0and it can help you\u00a0craft a mutually-beneficial solution. \u00a0However, reaching agreement\u00a0through a mediation isn’t always possible. \u00a0So, let’s explore another option: real estate arbitration in Grand Rapids.<\/p>\n

What is Real Estate Arbitration?<\/strong><\/h3>\n

Real estate arbitration is a dispute resolution method outside of the court system. \u00a0The case\u00a0is not resolved by a judge or jury. \u00a0Instead, both parties submit their information to an arbitrator, who reviews the case, listens to both sides, and makes a decision.<\/p>\n

This process is less formal than court, but more rigid than\u00a0real estate mediation<\/a>. \u00a0Since more than a million disputes go to arbitration each year, there are several large companies that offer arbitration services. \u00a0Both sides can also agree to an independent arbitrator if they choose.<\/p>\n

Typically, the parties will agree on a neutral space, such as a conference room, to hold the arbitration. \u00a0The ‘rules’ of the proceeding may be determined by a contract or by mutual agreement, so the specifics can vary quite a bit.<\/p>\n

What are some of the key elements?<\/p>\n

\"Real<\/a>Mandatory or Voluntary?<\/strong><\/h3>\n

Real estate arbitration may be mandatory or voluntary. \u00a0Many contracts include\u00a0an arbitration clause, which requires the parties to resolve their disputes through this method. \u00a0Typically, they give up their right to sue in court, or be a part of a larger lawsuit.<\/p>\n

Other real estate arbitrations\u00a0are voluntary. \u00a0Since it\u00a0can be\u00a0a faster, less expensive alternative to court, many people will decide to try their case in front of an arbitrator.<\/p>\n

Binding or Nonbinding?<\/strong><\/h3>\n

In some cases, the real estate arbitration is the end of the road. \u00a0Once both parties agree to abide by a binding<\/em> decision, the ruling is final. \u00a0It may not be overruled or overturned in court, except in extreme cases (such as\u00a0fraud or misuse of power).<\/p>\n

This can be a good route when both sides want to avoid court and get faster results.<\/p>\n

\"Real<\/a>However, real estate arbitration can also be nonbinding<\/em>. \u00a0In this case, either party can reject the ruling, and proceed to court instead.<\/p>\n

Will lawyers be involved?<\/strong><\/h3>\n

Possibly. \u00a0In some real estate arbitration cases, lawyers advocate for their clients. \u00a0This is especially common when there is a lot of money involved, or one of the parties is a corporation.<\/p>\n

Generally, lawyers are not required for the proceedings, and you are free to present your own case.<\/p>\n

\"Real<\/a>How will the arbitrator decide?<\/strong><\/h3>\n

Unlike a judge, an arbitrator makes their decision based on their opinions of what is fair and just. \u00a0They are not bound to make their decision based on case law or past precedents.<\/p>\n

In most cases, they will submit a written decision to both parties. \u00a0This document reduces confusion, and\u00a0should clearly lay out the reasons for the ruling.<\/p>\n

While timelines vary, most arbitrators work to\u00a0have their decisions ready in a few days.<\/p>\n

Remember, not all conflicts need to end in a nasty lawsuit. \u00a0Strongly consider all of your options for dispute resolution. \u00a0You may save yourself time, money, and headache!<\/p>\n","protected":false},"excerpt":{"rendered":"

In our last post, we discussed how real estate disputes don’t have to end up in court. \u00a0Real estate mediation can be a great alternative,\u00a0and it can help you\u00a0craft a mutually-beneficial solution. \u00a0However, reaching agreement\u00a0through a mediation isn’t always possible. \u00a0So, let’s explore another option: real estate arbitration in Grand Rapids. What is Real Estate Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[8,9,10,150],"class_list":["post-2408","post","type-post","status-publish","format-standard","hentry","category-grand-rapids-mi-real-estate","tag-grand-rapids","tag-kalamazoo","tag-michigan","tag-real-estate-arbitration"],"yoast_head":"\nReal Estate Arbitration: Alternatives to Court in Grand Rapids (Part 2) | Honeybee Homes, LLC | We Buy and Sell Grand Rapids Real Estate<\/title>\n<meta name=\"description\" content=\"Real estate disputes don't have to end up in court. 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