Pros and cons of home sale dispute arbitration

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

DEAR BOB: You helped us once before and we hope you can help again. In September, we bought an older house, which had recently been remodeled. It has a flat roof. Our professional home inspector said the roof appeared to have been repaired recently. During a moderate rain about a month after we moved in, it leaked in several spots. When we called the realty agent and the seller, they both said the roof didn't leak when the house was sold to us so they have no liability. We talked with two roofers who agreed the roof is "shot" and needs complete replacement. One roofer bid $12,500 and the other bid $14,850. When we talked to our attorney, she reviewed our sales contract that says we agreed to "mediate" any dispute that arises with the seller, but if that doesn't work we have to go to binding arbitration. When we signed our purchase offer, the Realtor strongly "pushed" us to agree to arbitrate any disputes. Is that good or bad? – Vickie R. DEAR VICKIE: Mediation of real estate sal...