The purchasers argued that the arbitration agreement was obtained as unacceptable and because of undue influence and that the court should therefore exercise its discretion to refuse the stay under section 7, paragraph 2 of the Act. In meditation, you and the other party have control over the result. Any provision arising from conciliation must be made. The mediator is not empowered to make a legally binding decision. Although buyers want to ask their agents® to participate in future arbitration, they may want to be careful when they ask their listing agent the same, as this could cause a bias on their offer. Some brokers may simply refuse to make this concession of their own interest. Thus, the seller can choose another offer that does not ask the stockbroker for this concession. DO BUYERS AND SELLERS HAVE TO MEDIATE AND ARBITRATION? Before signing a conciliation and/or arbitration clause, buyers and sellers should fully understand the legal consequences. Many real estate lawyers offer not to waive legal rights when signing a home purchase agreement. However, if a buyer-seller dispute arises thereafter and cannot be resolved without litigation, the parties may then decide whether they wish to go to binding arbitration and not to a trial. Assuming that a buyer and seller are unable to resolve their resale dispute either through a favourable settlement or mediation, if both parties sign the compromise clause, the next step for the buyer`s lawyer is to inform the seller of the dispute and the buyer`s wish of a binding arbitration procedure, as stipulated in the sale contract. 2. MANDATORY ARBITRATION.

The second, better-known form of out-of-court dispute resolution is a binding arbitration procedure. When both the buyer and seller sign the compromise clause in a home purchase agreement, they accept binding arbitration for any dispute that may arise, which cannot be resolved on a friendly basis. You can learn more about the pros and cons of arbitration here. ALTERNATIVE RESOLUTION OF DISPUTES. Unfortunately, complaints are usually filed after the sale of houses because the seller would not have revealed a serious defect with the residence.