Most people in Florida probably approach a real estate transaction with a sense of exhilaration to go along with their nervousness. After all, whether the buyer is a first-time homebuyer or a small business owner, buying a piece of real estate is a big move — sometimes the biggest financial move of a person’s life. So, what happens if a wrench gets thrown into the works? How can a Florida resident resolve a real estate dispute?
One option — and one that many people will hope is the only needed option — is to talk to the other party and resolve the issues out of court. This may be realistic if the problems are relatively minor. However, if the root of the problem is a contract dispute or an argument over unfavorable terms, a more formal approach may be necessary.
For some people, looking into mediation or arbitration as an option can prove to be useful. In this type of setting both parties will outline their arguments and concerns to a neutral third-party, who will then either make a decision based on that information in the case of arbitration, or attempt to get the parties to reach a middle-ground to resolve the dispute in the case of mediation.
Lastly, some issues can unfortunately require actual litigation as a last resort. This means that one party or the other might be inclined to file a lawsuit to get a court involved in resolving the dispute. If this is the case, both parties can probably expect to pay more than they could have imagined to reach a solution. If the dispute is over a contract, it is important to remember that the document may be construed in a way that is least favorable to the party who drafted the contract, depending on its terms and the surrounding circumstances.