Tag: Renovations

Negotiation: Including a clause that requires parties to engage in fair negotiations may resolve misunderstandings. It may be worthwhile to outline a specific process such as electronic communication.
Mediation: Agreeing to work with a designated third party offers both sides a neutral opinion about facts and reasonable ways to move forward.
Expert Evaluation: Another process that is generally not binding involves enlisting a construction expert. This mutually agreed upon person can provide a concise opinion that highlights commonly adopted industry standards and how they might be applied.
Adjudication: This process formalizes mediation and can be legally binding to some degree. A neutral party with experience resolving construction contract disputes renders an opinion both parties agree to follow.
Arbitration: This process usually involves paying a lawyer, but it may prevent expensive courtroom litigation. An impartial arbitrator reviews facts and documents submitted by both sides. The language in the contract can make the arbitrator's decision legally binding.

Based on information submitted to the MLS GRID as of 10/17/2024 11:17 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

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