What happens to a defaulting bidder in terms of liability and the price of the real property?
The defaulting bidder will be held responsible for any shortfall in the price of the real property. The order awarding the auction will also include a directive against the defaulting bidder to pay the difference, if any. Additionally, the defaulting bidder will not have the right to any increase in the price, as it belongs to the Debtor or the person in possession of the property or the surety, depending on the circumstances.