asked byon 9/6/19
A reserve is the price set by the seller indicating the lowest price the seller might accept for a property. The Seller's reserve is not disclosed during the auction and once reserve is met, bidding continues through the end on the bidding period. At the end of the auction, all bids and bid components such as financing type and requested closing date are subject for the seller's approval. The seller is not obligated to accept a bid and reserves the right to refuse a bid even if the reserve price is met.
To learn more about the reserve and bidding process, you may visit our FAQs at https://www.hubzu.com/portal/support.
Altisource Customer Advocacy Team