The Seller Minimum Price is the minimum amount the seller is willing to sell the property for. If the Seller Minimum Price isn't met when the offer deadline is reached, the offer deadline is extended for an additional amount of time (typically 8 or 24 hours). The Seller Minimum Price is set by the seller, guided by comparable sales and professional appraisals.
The seller reserves the right to reject all offers below the Seller Minimum Price, even if greater than the Starting Price. Whether or not the Seller Minimum Price has been met is displayed on the property listing page. If the Seller Minimum Price is not met, the seller may still decide to accept the highest offer.
By contrast, the Starting Price is the beginning price point in the sale of the property. Offers below the Starting Price cannot be submitted. Bidding starts at the Starting Price and continues until (a) the Seller Minimum Price is met and (b) the offer deadline is over. The Starting Price is also shown on the property listing page.