I presume from your post that you are the buyer, and want to force the seller to honor the contract? I'm writing this response as if you are the buyer, though the information isn't really different if you are the seller.
There is no set cost to mediate or arbitrate a case. The cost depends on a large number of factors, including whether or not you hire an attorney. Without an attorney, you and the other party will have to split the cost of the arbiter or mediator. They generally charge hourly with a minimum number of hours charged. Hourly rates vary greatly, but expect to pay as much, if not more per hour than an attorney will charge. If you have an attorney, you add their cost to the cost of mediation or arbitration. At a minimum, on a real estate sales dispute I would suggest that you'll spend $10,000 to $20,000 at a minimum to go through arbitration or mediation.
David L. Gibbs, Esq.The Gibbs Law Firm, APCSan Clemente, Californiagibbslaw.com
*Due to the limitations of the Lawyers.com Forums, The Gibbs Law Firm, APC's (the "Firm") participation in responding to questions posted herein does not constitute legal advice, nor legal representation of the person or entity posting a question. No Attorney/Client relationship is or shall be construed to be created hereby. Further, information you provide to the Firm through this website is not confidential - it is available publicly to anyone visiting this website. The Firm shall have no obligation to keep the information you provide herein confidential in any context. The information provided herein by the Firm is general, and requires that the poster obtain specific legal advice from an attorney. The poster shall not rely upon the information provided herein as legal advice nor as the basis for making any decisions of legal consequence. As required by 11 U.S.C. §528, we must now disclose that, "We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. Assistance we provide with respect to Debt Relief may involve bankruptcy relief under the Bankruptcy Code."
Consumers can use this platform to pose legal questions to real lawyers and receive free insights.
Participating legal professionals get the opportunity to speak directly with people who may need their services, as well as enhance their standing in the Lawyers.com community.