Mediation seeks compromise; arbitration results in binding decisions.

Generally no. Real estate contracts must be in writing.

It limits the seller’s compensation if a buyer defaults.

Yes. Backup offers provide protection if the primary deal fails.

It emphasizes that deadlines in the contract are legally critical.

Depending on contingencies, the seller may retain the deposit.

Yes, though rules vary by state and brokerage policy.

It automatically increases an offer price up to a cap if competing offers arise.

Not necessarily. Terms and certainty matter as much as price.

Flexible terms, fewer contingencies, quick timelines, and strong deposits.