What is the role of a real estate dispute arbitrator?

A real estate dispute arbitrator is an impartial third-party who helps resolve disputes between parties involved in a real estate transaction. As an arbitrator, they are tasked with listening to both sides, examining the evidence, and then making an informed decision about the dispute resolution. In Virginia, real estate dispute arbitration is typically the preferred method of resolving disputes between buyers and sellers, landlords and tenants, or other parties involved in a real estate transaction. An arbitrator’s role is to act as a neutral party and to listen to both sides of the dispute before making a decision. They have the power to consider any evidence presented, and to weigh the arguments of each side before coming to a conclusion about the dispute. The arbitrator’s decision is legally binding and, once it is made, the parties involved are required to abide by the ruling. Given the significant amount of money and time involved in a real estate dispute, it is important to have a qualified arbitrator oversee the dispute and provide an unbiased ruling. Real estate dispute arbitration provides an efficient and cost-effective resolution to the dispute, which is why it is so often preferred in Virginia.

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