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A real estate license is an authorization issued by a government body to give agents and brokers the legal authority to represent a home seller or buyer in a real estate transaction. Real estate agents and real estate brokers are required to be licensed when conducting real estate transactions in the United States and in a small number of other ...
Construction bidding is the process of submitting a proposal to undertake, or manage the undertaking of a construction project. The process starts with a cost estimate from blueprints and material take offs .
Design–bid–build (or design/bid/build, and abbreviated D–B–B or D/B/B accordingly), also known as Design–tender (or "design/tender"), traditional method, or hardbid, is a project delivery method in which the agency or owner contracts with separate entities for the design and construction of a project.
Construction law builds upon general legal principles and methodologies and incorporates the regulatory framework (including security of payment, planning, environmental and building regulations); contract methodologies and selection (including traditional and alternative forms of contracting); subcontract issues; causes of action, and liability, arising in contract, negligence and on other ...
A bid tells the owner how much money they should expect to pay the construction management company in order for them to complete the project. [4] Open bid: An open bid is used for public projects. Any and all contractors are allowed to submit their bid due to public advertising. Closed bid: A closed bid is used for private projects. A selection ...
The 16 Divisions of construction, as defined by the Construction Specifications Institute (CSI)'s MasterFormat, is the most widely used standard for organizing specifications and other written information for commercial and institutional building projects in the U.S. and Canada.
A federal jury in Kansas City ordered in October that the association and several brokerages, such as Keller Williams Realty and RE/MAX, pay $1.8 billion for intentionally inflating real estate ...
Design–build does not make use of competitive bidding where prospective builders bid on the same design. Criteria to select contractor are subjective and difficult to evaluate and to justify later. The design and price selected arouses public suspicion, true or not. This can lead to loss of public confidence.