Legal Question in Real Estate Law in Georgia
what happen to the difference of the starting bids and the finish bids
What happens to the excess money after a bid on the court house step, for example the bid price starts at $140K and the finish bid is $160K what happens to the difference of $20K
1 Answer from Attorneys
Re: what happen to the difference of the starting bids and the finish bids
If you mean the house was sold for more than the total owed, the difference goes to the owner. If you mean the difference between the opening bid and the sale price, that is probably irrelevant. Most auction items sell for more than the initial bidding point.
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