Bid Shopping. Bid shopping is an unethical practice in which a contractor discloses the bid price of one subcontractor to another in an attempt to obtain a lower bid price. Included in bid shopping is âbid peddling,â in which subcontractors themselves offer to undercut the known bid of another subcontractor.
The real estate entitlement process is frequently a political one, which involves uncertainty and often extensive negotiation and concessions in order to secure the necessary approvals and permits.
A life estate is a type of ownership interest in real estate. Most commonly the life estate is conferred by deed but may also be conferred in a will or trust. The typical scenario pertains to a parent who wants to âgive the house to the kidsâ for estate and asset protection planning purposes, but retain control over the property.