Real Estate Law disputes are some of the most common disputes that can arise. There are literally thousands of cases around the world that have dealt with all types of disputes involving inheritance of property, landlord/tenant disputes, boundary line disputes and even disputes among countries over a disputed territory that has not been solved yet.
If you are involved in a Real Estate Law dispute of your own, here are a few tips to help you mediate that dispute.
In mediation terms, the bottom line figure is the number that you are willing to settle for to avoid going to court. This is important since you should know what to ask for. You need to figure out a number or a term that you are comfortable with, before you go ahead to mediate to end your negotiation. You can mold your strategy on that figure and work backwards. You can ask for more than your bottom line but never less. Make sure you come up with a precise calculation for a number.
Lawyer’s fees have to be factored in for risk analysis. This has to be done because they play an important role in your negotiation. You may or may not be able to recover your legal fees, depending on offers that may or may not be exchanged after litigation is commenced. If you have a strong case, then you should have a reasonable expectation of getting a portion of fees back. However, if this is not the case, you have to factor the expected cost into your total budget to maintain an action for recovery arising from your real estate law dispute.
Don’t reveal your final position until it truly comes to that. This is just a smart negotiating tactic and can’t miss. If you demonstrate weakness, it will backfire.
Think of a mediator like a handshake. They either convey strength or reassure you, or they convey a lack of power and introversion. Hence, a good mediator needs to do just that. They need to show power, they need to be fully active in their job and strong in their conviction.
You may be looking for a lump sum alternative payout but you should think about alternatives when it comes to real estate law disputes. If you are willing to settle for a payment plan, especially if the total amount is higher in the long run, you should. If you are being compensated and are willing to sell property or buy your neighbor’s property, you should also think about that alternative. There are no exact rules for settlement, so you can demand different things and not stick to the norms. Don’t forget to consider non-monetary options.