10
PLAYBOOK TEMPLATES

Real Estate Purchase Agreement

A Real Estate Purchase Agreement governs the sale and transfer of property ownership between buyer and seller. This playbook covers due diligence, contingencies, and closing mechanics.

Dispute Resolution and Governing Law

Why This Matters: Ambiguous dispute mechanisms can prolong conflicts and increase costs. Clear procedures expedite resolutions and reduce legal uncertainty.

Negotiation strategy

If you're the Buyer:

Ensure mediation and arbitration steps are clearly outlined before litigation. Verify governing law is a preferred jurisdiction, and venue is specified.

If you're the Seller:

Negotiate for a jurisdiction that aligns with your business preferences. Consider cost-shifting provisions to mitigate legal expenses.

Essential elements

1

Mediation Process

Initial step before litigation.
2

Arbitration Rules

Binding resolution method.
3

Governing Law

Applicable legal framework.

Action framework

ACCEPT

Propose edits if the jurisdiction is unfamiliar or unfavorable.

EDIT

Reject if the clause lacks mediation or arbitration steps.

ADD

Add cost-shifting provisions to cover attorneys' fees.

PRO TIP

Select a jurisdiction with predictable legal outcomes to minimize risks.

Example clauses

FAVORABLE

Preferred Mediation and Arbitration Clause

"Before any party may initiate litigation, the parties agree to first attempt to resolve any dispute, controversy, or claim arising out of or relating to this Agreement through mediation. If the dispute is not resolved through mediation within 30 days of a written request for mediation, the parties agree to submit the dispute to binding arbitration."
NEUTRAL

Standard Choice of Law Clause

"This Agreement shall be governed by and construed in accordance with the laws of the State of [Insert State], without regard to its conflict of law principles."
UNFAVORABLE

Missing Venue Specification

"Any legal action or proceeding arising out of or relating to this Agreement shall be brought in a court of competent jurisdiction."

Fallbacks

High-Risk Projects

For high-risk projects, ensure dispute resolution clauses are robust to handle potential complexities.

International Contracts

Consider international arbitration rules and select a neutral governing law to manage cross-border disputes.

Small-Scale Agreements

Simplify dispute resolution clauses to reduce legal costs for smaller agreements.
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