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.
What Is a Real Estate Lien? In real estate law, a lien is defined as a type of claim regarding the property owned by a debtor. Usually, the debtor needs to pay back their lender using cash or other finances. If they canât do this, the lender may be able to obtain a lien on their property.