Mediation is faster than litigation. A lawsuit can take anywhere from several months to several years to be decided. As a rule, mediation takes about 60 days from beginning to end. Mediation is less expensive than litigation.
Mediation is non-adversarial .
Arbitration and litigation focus on disagreements between the parties and result in win-lose decisions imposed by the arbitrator or judge. Mediation, on the other hand, focuses on agreement between the parties and results in a win-win settlement reached and agreed on by the parties themselves. Parties who agree to mediate retain the right to pursue other legal remedies . If parties cannot reach a mutually acceptable settlement during the mediation conference, they are free to arbitrate or litigate their dispute as if the mediation never took place. Although the vast majority of real estate transactions close without incident, the possibility that a problem or dispute will occur cannot be eliminated.