The opening bid amount that begins the auction bidding during a foreclosure sale.
The bid amount that exceeds a seller's reserve price. See reserve price.
Commonly known as the reserve price.
Judicially determined minimum selling price for auctioned property.
An amount set by the court which creates the reserve bid for an auction of property; the property may not be sold for less than the upset price.
The minimum acceptable price to open the bidding on a horse offered for sale in the auction.
A guaranteed maximum price in a construction contract.
A minimum price set by a court in a judicial foreclosure, below which the property may not be sold by a court appointed commissioner at public auction; the minimum price which can be accepted for the property after the court has had the property appraised.
The lowest or minimum price as set by a court of law at which property can be sold at public auction.
The minimum price at which a seller of property will accept a bid at an auction.
Minimum price in an auction that a seller will accept bids.
The point at which a property may be sold and the price will cover all expenses, i.e., the "break-even" point.
An established amount, in a bidding procedure or auction, below which the seller is not obligated to accept the winning bid. Also referred to as a reserve price.