In every business negotiation, the potential for conflict exists. Most real estate contracts have conflict resolution provisions included as part of the agreement. In San Mateo County’s real estate contract, there are two types of conflict resolution mechanisms: mediation and arbitration. Each is different from the other and it is important to know how and when they may come into play.
What is Mediation and Arbitration?
In our latest 3 Minute Coaching Moment, Raymond Stoklosa, Managing Broker and Co-Owner of The Ray Chel Realty Group discusses:
- What is mediation and arbitration?
- What is the most common dispute among San Mateo County buyers and sellers
- What are the advantages and disadvantages of arbitration over litigation?
- When it may be prudent to forego mediation or arbitration and go to court
Before you sign a real estate purchase contract, you should understand the conflict resolution options available. Knowing the potential consequences of your choice is a vital part of being an informed consumer.
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Raymond Stoklosa, Broker/Co-Owner
Chela Stoklosa, Realtor/Co-Owner
