Starting Sale Price of the Encumbered Property
The initial selling price of the pledged property - the initial selling price of the property at public auctions is determined based on an agreement between the pledgor and the pledgee reached during the court proceedings, and in case of a dispute, by the court itself. If the initial selling price of the pledged property is determined based on the appraiser's report, it is set equal to eighty percent of the market value of such property as determined in the appraiser's report1.
Federal Law No. 102-FZ dated July 16, 1998 "On Mortgage (Pledge of Real Estate)", as amended on June 6, 2019, Article 54, paragraph 4 // Official Gazette of the Russian Federation. 1998. No. 29. Item 3400. ↩