Real Estate Disputes in Chicago IL: Arbitration or Mediation?

Real estate disputes in Chicago Illinois may be resolved in a number of ways, depending on the nature of the case.  Many cases go to trial, but many more settle through methods of alternative dispute resolution, such as arbitration and mediation.  However, how do you pick the right method to resolve your clients’ real estate disputes in Chicago Illinois?

For clients who express openness to a number of different resolutions to the case, mediation would likely be the better option.  Mediation is best for clients who want to maintain some control over the outcome of their case, but would be satisfied with several different settlement options.  A willingness to negotiate is key to the success of mediation.

Mediation is also beneficial for parties who need to preserve relationships.  Since the parties attend mediation with settlement in mind, their relationship, whether personal or professional, fares better than if they had gone to court and fought in trial.

Arbitration is best for clients who are convinced they have a winning case and want a quick or final resolution to the case.  Though mediation may also provide a prompt finalization to real estate cases, arbitration involves a decision-maker, whereas mediation does not.  For many real estate clients, pending litigation impedes their ability to make deals or enter into new contracts, so arbitration would finalize the dispute and free these parties from the case.