8.01-494 - Resale of property if purchaser fails to comply; remedy against such purchaser. - Virginia Statutes

§ 8.01-494. Resale of property if purchaser fails to comply; remedy againstsuch purchaser.

If, at any sale by an officer, the purchaser does not comply with the termsof sale, the officer may sell the property, either forthwith or under a newadvertisement, or return that the property was not sold for want of bidders.If, on a resale, the property be sold for less than it sold for before, thefirst purchaser shall be liable for the difference to the creditor, so far asis required to satisfy him, and to the debtor for the balance. This sectionshall not prevent the creditor from proceeding as he might have done if ithad not been enacted.

(Code 1950, § 8-423; 1977, c. 617.)