What does 'Reserve Price' mean when buying a property?
Find out what Reserve Price means when you are buying a property. 'What does Reserve Price mean?' plus over 150 other property related terms and jargon in plain English
The reserve price refers to properties sold at auction and is the price below which the vendor will not sell.
The auctioneer then also sets a "Guide Price", how much they expect the property to sell for.
In reality they set the guide price artificially low in order to attract a larger audience to the auction.
To find out more about buying at auction and why it is not the bargain option it once was pick up a copy of my ebook How to Really Buy a Property.