If you are involved in a real estate contract dispute, you may be subject to a mandatory mediation requirement to help you resolve the conflict. The requirements for mandatory mediation are typically included in the text of your real estate contract. A New Jersey real estate disputes attorney can help you review the terms of your agreement and determine if mandatory mediation is necessary.
Requirements for Mandatory Mediation Explained by a New Jersey Real Estate Disputes Lawyer
Almost all real estate contracts in New Jersey require that the parties undergo mandatory mediation if a dispute arises. Even if mandatory mediation is not written into the contract there may be a requirement that the parties mediate their disputes.
Disputes that may give rise to mediation include failure of one side to fulfill the terms of the agreement such as by paying consideration or delivering the property in a timely fashion. In addition, the parties may need to first go through the mediation process before they can file a lawsuit and hash out their dispute in court.
Mediation Explained by a New Jersey Real Estate Disputes Lawyer
Mediation is generally an informal process where a neutral third party will help the two sides reach an agreement on a dispute. The mediator may meet with both sides privately or publicly and help the parties identify their differences and work out a possible solution.
A mediator can function as a facilitator and problem-solver; in general, they help to open the lines of communication. However, a mediator typically does not have any power to make binding decisions. Unlike a judge or arbitrator, a mediator does not issue decisions. Instead, the mediator may give recommendations and help the parties reach a settlement.
New Jersey Real Estate Disputes Attorney
If you have any questions about a real estate contract dispute or requirements for mandatory mediation, you will want to talk to an attorney. Contact an experienced real estate attorney at Snelllings Law LLC by calling 973.265.6100 to discuss the specifics of your case.