Individuals who become embroiled in a real estate dispute know how heated the case can become. There are often thousands – if not millions – of dollars on the line. While parties may want to rush to litigation, their lawyers may want to consider and recommend real estate mediation. They can explain that real estate mediation provides two key benefits that the parties may not receive when enlisting a court’s help.
In litigation, there is usually a winner and a loser. While there may be successful counterclaims, one party usually winds up ahead of the other. In real estate, this may mean that one party must sign over the property or pay monetary damages to the other party. In mediation, it is possible for the parties to reach a compromise that both parties may be content with. Even if both parties are not fully satisfied with the agreement, they may both be relieved that a worse outcome did not ensue, which could have been possible had the case proceeded to trial.
When pursuing litigation, the parties are handing over control to a judge or jury. Juries are often unpredictable. Even if a party wins a jury trial, he or she still stands to lose if an appeal overturns the verdict and the case is re-tried. Through mediation, the parties retain this important control. They get to decide if they want to participate in mediation. They also get to decide if a proposed settlement is something that they are willing to approve, or if they want to pursue other forms of recovery.