legla interpretation

What is the name of your state? Michigan

The Voluntary arbitration clause in my purchase agreement reads

"VOLUNTARY ARBITRATION AGREEMENT: Any claim of seller or buyer arising out of this agreement relating to the disposition of the earnest money deposit or the physical condition of the property covered by this agreement shall be arbitrated in acordance with the rules, then in effect, adopted by the American Arbitration Association. This is a separate voluntary agreement between the Seller and Buyer and the failure to agree to arbitrate does not affect the validity of this purchase agreement. The arbitration award is enforceable by judgment rendered in any circuit court. This agreement shall survive closing."

The seller has backed out of the offer after he made and signed a counter offer which we the buyer also signed. Both buyers and sellers signed the arbitration clause.

My lawyer interprets this to mean if there is a claim of the buyer or seller as to how the REALATOR handles the earnest money we arbitrate. He has written a notice to the sellers that we intend to sue if they do not conceed to the sale as written.

How do you interpret this?

If we go to court and the judge deems this arbitration clause relates to the buyer and seller, NOT realtor, do we automatically loose, or go to arbitration then?

[HomeGuru]

Originally Posted by Donata

What is the name of your state? Michigan

The Voluntary arbitration clause in my purchase agreement reads

"VOLUNTARY ARBITRATION AGREEMENT: Any claim of seller or buyer arising out of this agreement relating to the disposition of the earnest money deposit or the physical condition of the property covered by this agreement shall be arbitrated in acordance with the rules, then in effect, adopted by the American Arbitration Association. This is a separate voluntary agreement between the Seller and Buyer and the failure to agree to arbitrate does not affect the validity of this purchase agreement. The arbitration award is enforceable by judgment rendered in any circuit court. This agreement shall survive closing."

The seller has backed out of the offer after he made and signed a counter offer which we the buyer also signed. Both buyers and sellers signed the arbitration clause.

My lawyer interprets this to mean if there is a claim of the buyer or seller as to how the REALATOR handles the earnest money we arbitrate. He has written a notice to the sellers that we intend to sue if they do not conceed to the sale as written.

How do you interpret this?

If we go to court and the judge deems this arbitration clause relates to the buyer and seller, NOT realtor, do we automatically loose, or go to arbitration then?

**A: do not start a new thread. Post to your initial thread dated 9/10 on this very subject. Thanks.