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English definition of “upset price”

upset price

noun [C]     US Scottish PROPERTY
the lowest price at which a property may be sold, set by a court especially after a foreclosure (= a situation in which a bank takes a property because the owner cannot make payments on the loan): Normally, lenders put up houses for auction with bids starting at the upset price in order to recoup their costs.
(Definition of upset price noun from the Cambridge Business English Dictionary © Cambridge University Press)
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