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Upset Price |
Also found in: Dictionary/thesaurus, Financial | 0.04 sec. |
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The dollar amount below which property, either real or personal, that is scheduled for sale at an auction is not to be sold. An upset price is intended as a minimum price. In a decree for a Judicial Sale, it constitutes a direction to the officer conducting the sale not to accept any bid that falls below the fixed price. In a final decree in a foreclosure sale, an upset price should be sufficient to cover costs and allowances made by the court, the certificates and interest of the receiver, and any liens in existence. |
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The Cougars are 4-0 after beating Boise State 58-0, a game that was called a ``Preview to Pasadena'' by the school's marketing department, a ploy that upset Price, who was worried that other Pac-10 teams might take offense. The City Department of Citywide Administrative Services has announced that 211 parcels will be auctioned on May 12th with minimum upset prices ranging from $1,000 for about half a dozen to $354,000 for a Brooklyn parcel at 2371 lot 40. Last October, he recalled, the property was put up for auction with a minimum upset price of $800,000, but there were no bidder. |
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Upset Price
