17th Aug 2015
When people think of a hotel and real estate arbitrator in California, they often think of a real estate lawyer who has helped piece together sales contracts. Or, they may think of a judge who had to decide cases on the bench pertaining to deals that went south. However, a hotel and real estate arbitrator in California who does not have a legal background can provide surprising benefits to the parties involved.
A hotel consulting expert can provide a unique perspective of the complexities involved in hotel development. He or she has spent years building relationships and cultivating processes to help clients maximize their potential profits. As such, he or she has also developed a working knowledge of various codes and ordinances that can impact the human relationships between developers, land sellers, contractors, designers and architects.
Unlike with arbitrators on a panel of only lawyers, a hotel consulting expert who serves as an arbitrator has a better idea of how such properties are valued. It is not uncommon for parties to call different real estate experts to provide an opinion about the value of a property. However, a real estate arbitrator can ask pointed questions of such experts in order to determine if the expert’s valuation is in line with current processes used in the industry.
Additionally, a real estate arbitrator can ask each party specific and detailed question about the purchase agreement and the problems that have arisen. Having a specialized knowledge in the subject can help the arbitrator quickly ascertain the most important information so that he or she can make an informed decision. The arbitrator may also be able to formulate creative solutions based on the parties’ feedback and answers to questions. Having someone with this type of knowledge can also help the parties be more satisfied with the outcome and less likely to try to challenge the decision in court.