Question
You have an executed purchase agreement for a primary residence, between buyer and seller. You represent the buyer who submitted a $10,000 deposit in escrow.
You have an executed purchase agreement for a primary residence, between buyer and seller. You represent the buyer who submitted a $10,000 deposit in escrow. The seller changes his or her mind due to family members suffering from Covid-19. The seller offers to refund the $10,000 deposit to the buyer, but your client prefers to have the house rather than the return of the good faith deposit (GFD). Your client files suit against the seller for the action of Specific Performance. The seller's agent contacts you and asks if you would advise your client to first consider an alternative to litigation. After your survey of the links below, what approach do you advise your client to take between Mediation or Arbitration? Explain your response in detail.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started