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5 things to consider when deciding whether to include an arbitration clause in a real estate contract

Many types of contracts require the parties to submit their disputes to arbitration. For example, arbitration clauses are common in consumer agreements, such as car leases and gym memberships. While a consumer can negotiate certain terms, like price, most of the provisions are not negotiable. While the consumer may be stuck arbitrating, commercial parties often negotiate every last term of their agreements. This includes whether to require the parties to arbitrate their disputes or take them to court. There are advantages to each, so here are five things to consider when deciding whether to include an arbitration clause in a real estate contract, such as a purchase and sale agreement or lease. CONTINUE READING...