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Important Tips for Completing a Residential Contract for Sale and Purchase – Part 16: Default and Dispute Resolution

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Important Tips for Completing a Residential Contract for Sale and Purchase – Part 16: Default and Dispute Resolution

December 17, 2015
Tanishia Stokes
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Dispute Resolution

Section 16 of the Contract discusses Dispute Resolution. Dispute Resolution is a method used by Buyers and Sellers to resolve the claims and controversies that arise from the Contract. The Buyer and Seller are given 10 days after the conflicting request for the Deposit to make an attempt to come to a resolution. However, if they are unable to resolve the issue, the Buyer and Seller are required to attend mediation. The mediator must be certified or have the requisite experience in real estate. This clause will remain in effect after Closing or the termination of the Contract.

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