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Buyers Back on Top—Market Cooldown Boosts Negotiating Power

Pro Builder

Buyers Back on Top—Market Cooldown Boosts Negotiating Power. A more balanced market is putting buyers back into the driver's seat, and those who can still afford home purchases are backing out of deals and capitalizing on their bargaining power. Around 63,000 home-purchase agreements were called off in July, a share equal to 16.1%

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Construction workers secure 7.6% pay increase

Construction Enquirer

Construction unions and contractors have agreed a pay increase from next month of at least 6% for around 500,000 site workers operating under the Construction Industry Joint Council agreement. In a two-stage CIJC deal, workers will receive a further 1.5% Click here for full agreement details.

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Homebuyers Burdened by Inflation Are Canceling Deals at the Highest Rate Since the Pandemic

Pro Builder

Homebuyers Burdened by Inflation Are Canceling Deals at the Highest Rate Since the Pandemic. Elevated costs of homeownership are causing some Americans to cancel their deals and rethink their purchasing plans. Tue, 07/12/2022 - 10:40.

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Sparks agree 7% wage increase from 2024

Construction Enquirer

Electricians are set for a 7% wage rise from 2024 after a new pay deal was hammered out by electrical contractors and union Unite under the JIB collective agreement. The two-year deal for the industry also includes a 5% uptick in rates from 2025.

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Bargaining Room v. False Claims: 5 Tips for Negotiation of Construction Claims

Best Practices Construction Law

The issue raises an important question: What should a contractor do during negotiations to allow for some “bargaining room” so as to avoid any appearance of filing a false claim? Owners often begins negotiations from the opposite end of the spectrum for the same reasons. Do not negotiate against yourself.

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Update: Vegas Raiders Stadium Rent Control Deal

Construction Equipment

According to the Associated Press, Adelson took back his pledged $650 million due to the lease agreement negotiated between the Raiders and the Clark County Stadium Authority. The proposed lease agreement presented Monday would have the Raiders pay just $1 a year for 30 years to rent the 65,000 seat facility.

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Selling Your Home Building Company? Here's What to Expect

Pro Builder

Deal Prep for M&A. Valuation and deal preparation in the M&A process takes about 45 days total. At the end of the deal preparation phase, you will have a package of offering documents you can provide to potential buyers. For example, Japanese companies tend to take longer than American companies in their M&A process. . .

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