Portal Forum General General Discussion Home Ownership Reply To: Home Ownership

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fishingmnfishingmn
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@Orion wrote:

When buying a house sign the agreement to force arbitration. Not doing this thinking we wanted the right to sue if we found anything is screwing me over. Long story. (If anyone knows a good structural engineer please pm me)

Just to clarify this. You can’t force the other party to sign the arbitration agreement. While I’d guess that 90% of deals include all parties agreeing to arbitration you can’t force the other side to agree to it as a condition of the sale. In pretty much all dealings with banks they will decline arbitration and force you to sue them if you have an issue after the sale.

Arbitration is faster to settle and usually less expensive which is why the vast majority agree to it. You can still hire a lawyer to represent you if you want. The ruling of an arbitrator is binding.