What Are My Options If a Real Estate Deal Goes Wrong in New York?

Sometimes a property deal is straightforward and goes off without a hitch. Other times, something goes wrong, and that’s when you need an experienced real estate litigation attorney. At Chiariello & Chiariello in Glen Cove, NY, we have been dedicated to the legal profession for over 50 years, and are ready to answer your questions.

What Are My Options?

Continue reading to learn more.

Negotiation and Resolution

Something going wrong with a deal does not mean that it’s over. Often, disputes can be resolved through negotiation between the parties involved. This might involve discussions to amend the terms of the contract, renegotiate the price, or find other mutually acceptable solutions.

Mediation or Arbitration

If negotiation fails, parties can opt for alternative dispute resolution methods like mediation or arbitration. In mediation, a neutral third party helps facilitate discussions to reach a resolution. In arbitration, a neutral arbitrator hears both sides and makes a binding decision. These methods can be faster and less costly than going to court.

Litigation

If all other avenues fail, you may need to resort to litigation and file a lawsuit in court. Common reasons for litigation in real estate deals include breach of contract, fraud, misrepresentation, or specific performance (forcing the other party to fulfill their obligations under the contract). We can prepare and fight your case, find experts to testify on your behalf if needed, and guide you through the process of the lawsuit.

Specific Performance

In some cases, we may seek a court order for specific performance, which compels the other party to fulfill their contractual obligations to you. This is often pursued when the property is unique and where monetary damages are or would be inadequate to compensate for the breach of contract.

Damages

As your real estate attorneys, we may also seek monetary damages on your behalf for any losses incurred due to the other party’s breach of contract or wrongful actions. These damages could include compensation for financial losses, such as lost deposits, expenses incurred, or lost opportunities.

Why You Need a Real Estate Attorney in Long Island

It’s essential to review the terms of the contract, consult with a real estate attorney, and consider the specific circumstances of your case before deciding on the best course of action. The law can be confusing if you’re not used to dealing with such matters, but we can provide guidance tailored to your situation and help you pursue the most appropriate legal remedies.

Our clients trust us to fight for them as fiercely as we would for our own family. Get in touch with us at Chiariello & Chiariello in Glen Cove, NY, to schedule a consultation with us. Whatever real estate issues you’ve run in to, we’ll do everything we can to bring your case to a satisfactory resolution.

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