In 2014, the Texas redisential contract, promulgated by the Texas Real Estate Commission, added a clause for mandatory mediation if there was an issue during or after the closing of a transaction. This means that an uphappy buyer or seller can't file a lawsuit in court without first trying to settle things outside of court.
A Mediator is a nuetral third party that helps get people focused on what the issues at hand are, and to help them come to a mutually agreeable outcome. Mediation is usually a fairly quick process as it can be scheduled within a week or two so the parties can move on with their lives. It's also much less expensive than the courtroom.
Scenario: Buyer is under contract with a house and pays for an independent inspector. After reviewing the report, the Buyer sends a repair amendment asking the Seller to repair the AC that isn't cooling properly. The Seller agrees to the repair and submits an invoice showing an HVAC technician repaired the AC. A week (two weeks, a month...) after closing, the Buyer moves in and the AC isn't working well. They call the number on the invoice to come out and look. They tell the Buyer (now the Owner) that the Coil needs to be replaced. The Buyer asks the technician why the coil wasn't replaced when they came out a couple of weeks ago. The technician says that the seller didn't want to spend the money to replace the coil and to just top off the freon/puron. The Buyer does the needed repair and feels the Seller should pay for the repair since he agreed to it when signing the Repair Amendment. The Seller is refusing to pay...
My Texas Real Estate Mediation Services can help both parties figure out a mutually agreeable way to move forward. Contact me today for your free 10 minute consultation to see if Mediation is right for you. There are many things that can come up in a real estate transaction that Mediation would work well for. Check out my website to see other examples of Texas Real Estate Mediation Services scenarios.