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.
Real Estate Reservation Life Estate Deeds Law and Legal Definition. A life estate is where a natural person owns all the benefits of ownership in the property during their life, or the life of another, with the property going to a remainder person after the death of the life tenant.