What happens if two people bid above the judgement at foreclosure auction.

[Bob Ward]

Thank you for help. At a foreclosure auction with the judgement being $65K what happens if multiple people bid over $65? A call to the county Master in Equity office we were told anything over the $65 would be the subject of a hearing held at a later date to determine who gets the extra $ above andbeyond the 65K.  

If we are forced by other bidders to bid as high as $90K and we "are" the high bidder we would only pay the court the $65K?  With the "high bidder hat" just being a symbol of who gets the property?

 Thank you.

[Mike Kirby]

Quote from @Bob Ward:

Thank you for help. At a foreclosure auction with the judgement being $65K what happens if multiple people bid over $65? A call to the county Master in Equity office we were told anything over the $65 would be the subject of a hearing held at a later date to determine who gets the extra $ above andbeyond the 65K.  

If we are forced by other bidders to bid as high as $90K and we "are" the high bidder we would only pay the court the $65K?  With the "high bidder hat" just being a symbol of who gets the property?

 Thank you.

That's not the way it works in Texas. Whoever wins the high bid pays the high bid. The county keeps the overage and if the original owners are smart they can claim the overage. If not, the county keeps it. You will have to find out from your local county how it actually works for your area.