Minimum value
The minimum value is 85% of the base value (CPC, art. 816): in a sealed bid, an offer below it is only accepted with the agreement of the debtor, the enforcing creditor and all secured creditors.
What it is, why it matters when bidding, and a worked example.
The minimum value protects the case from sales manifestly below the assessed value. In a sealed bid, a lower offer is only accepted with the agreement of the debtor, the enforcing creditor and all secured creditors (CPC, art. 821); on e-leilões, bids between the opening value (50% of the base value) and the minimum stand as conditional bids (Despacho no. 12624/2015, art. 2). It is always stated in the notice, and it is the number that matters when budgeting: the base value is context, the minimum value is the entry ticket.
When there are no acceptable bids, the sale generally moves to private negotiation (CPC, arts. 822 and 832). On e-leilões, bids between 50% and 85% of the base value are conditional bids: they do not lead to an immediate award, but can be used at that stage as a purchase offer (Despacho no. 12624/2015, art. 2). It pays to follow a property that did not sell first time, always checking what the case decides.
In sealed-bid sales the minimum plays a different role: with no visible incremental bidding, each party submits a single figure and the minimum is the only public anchor. An offer below it only goes ahead with the agreement of the debtor, the enforcing creditor and all secured creditors (CPC, art. 821).
Example
A house with a base value of €200,000 goes to auction on e-leilões: it opens at €100,000 (50%) and can only be sold from €170,000 (85%). The highest bid stops at €150,000: a conditional bid, which gives no immediate award but can be considered if the sale moves to private negotiation.
Frequently asked questions
Can I bid below the minimum value?
On e-leilões you can bid between 50% and 85% of the base value, but it is a conditional bid with no immediate award. In a sealed-bid sale, a bid below 85% is only accepted with the agreement of the debtor, the creditor and all secured creditors (CPC, art. 821).
Why is the minimum 85% of the base value?
It is the rule in the law for enforcement sales (CPC, art. 816) and in the e-leilões rules (Despacho no. 12624/2015, art. 2). In other formats, such as private negotiation or private auction houses, always check the notice for the specific case.
Related terms
Go deeper
Enforcement, insolvency and tax sales: who runs them, what values and what deadlines.
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