Highest bid
Highest bid submitted for the property during the court auction hearing.
Definition and context: The highest bid is the highest bid made during the hearing. It is usually recorded in the auction minutes and the court documents concerning the award. Section 190 of the Enforcement Act uses the term narrowly when asking whether the buyer is in default with depositing the highest bid.
Role question: Buyers must keep their own budget separate from the court bid. The bid budget planner records a private ceiling, while the buyer checklist structures the supporting records.
Distinction: The highest bid is neither the value stated in the valuation report nor the court’s award nor the later distribution mass. Any statement on deposit, crediting or additional amounts depends on the specific file.
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This explanation gives a general overview of Austrian law and does not replace a lawyer’s examination of the individual case.
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Award
Court decision by which the auctioned property is awarded to a specific buyer.
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Judicial auction
Court enforcement proceeding in which land, a superstructure or a building right is realised to enforce an enforceable monetary claim.
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Court valuation report
Court expert report that records the findings on the property and determines its value under the rules governing judicial valuation.
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