Heading Toward Real Estate Mediation? What You Should Know
In many real estate disputes, mediation is an option or requirement to attempt arriving at a resolution. Mediation is an alternative dispute resolution process where an independent and neutral third parties attempts to help the parties reach a compromise. If you are going to be involved in real estate mediation, you should contact the Fairless Hills PA real estate lawyers at Olen Law Office.
What happens in a real estate mediation?
Participation in mediation may be required or recommended in certain real estate disputes. In mediation, the mediator meets with each party and is provided with an explanation of the issues. Each party may propose resolution and their terms. The mediator will go between each party and discuss the issues. The mediator will attempt to find common ground and assist the parties in reaching a compromise.
If an agreement is reached, then the parties can memorialize the agreement in writing and the dispute is settled. Mediation is not always successful and neither party is obligated to agree.
Why should you have an attorney in a real estate mediation?
During a mediation, Fairless Hills PA real estate lawyers can provide their advice and opinions about the situation and settlement offers. By having an experienced attorney involved, you will be able to make informed decisions about different proposals that are presented. If an offer is made, an attorney can help you assess whether it is reasonable or if you would have better chances pursuing litigation.
Because real estate issues are complex and there are a variety of laws that may apply, it would be beneficial to have a lawyer involved who can help you understand how the law addresses your situation.
The lawyers at Olen Law Office have experience with real estate issues and can assist you in mediation. If you are heading toward real estate mediation, then contact us today.