http://www.trulia.com/voices/Foreclosure/What_does_it_mean_when_the_forclosure_advertises_-70621en-ushttp://www.trulia.com/voices/profile/Real_Estate_Pro-Kailua_Kona_HI-952022/http://www.trulia.com/voices/profile/Real_Estate_Pro-Kailua_Kona_HI-952022/In laymen terms, it means when the gavel drops at the auction, the home will be sold at whatever the highest bid is. Kind Regards, Andrew Meislin President Lauhala Mortgage 74-5620 Palani Court; Suite 208 Kailua Kona, HI 96740 Phone: (808) 331-0585 Fax: (808) 331-0583 Email: Andrew@LauhalaMortgage.comThu, 03 Dec 2009 14:35:26 -0800http://www.trulia.com/voices/profile/Real_Estate_Pro--471054/http://www.trulia.com/voices/profile/Real_Estate_Pro--471054/Aloha Ron, Good question! An upset price is basically a minimum price for the property to be sold. Anything below that will not result in a sale. Often times the first mortgage holder will "bid in" the amount of what is owed him (her, it...) which may also be the "upset price" as well. It actually can get more complicated that that, and a good book on economics can go on for several pages on this point alone. Hopefully, this brief will help give you an idea to work from. Walt Berhalter Director of Education, All Islands Real Estate School GRI, ABR, ABRM, RSPS, SRES, E-Pro, AHWD, JD, CLU, MBA, (RB) (808) 564-5100 Fax (808) 263-2114 Walt-Direct: (808) 651-9732 Toll Free: 1-800-523-7440 All Islands Real Estate School 767 Kailua Rd. Suite 102 Kailua, HI 96734 reschool@hawaiimoves.com walt.berhalter@hawaiimoves.comThu, 27 Nov 2008 03:23:27 -0800