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.
When you buy or sell a property, you need to know about any claims non-owners may have on it. Real estate is said to have an encumbrance when someone can make a claim regarding the use of the property. There are several types of these encumbrances. Encumbrances may apply not only to the person selling the property, but to the new owner as well. A lien is a financial claim on a property.