The Reserve Price is the minimum amount the seller is willing to sell the property for. If the Reserve Price isn't met when the offer deadline is reached, the offer deadline is extended for another 24 hours. The Reserve Price is set by the seller who is guided by comparable sales and professional appraisals.
The seller reserves the right to reject all offers below the Reserve Price which is greater than the Starting Price. Whether or not the Reserve Price has been met is displayed on the property listing page on SnapDoor.
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 Reserve Price is met and (b) the offer deadline is over. The Starting Price is shown on the property listing page on SnapDoor.