Tax Sale Auction & Exceeded Funds

[Vitali Intsevich]

Hi All, who are interested in tax sales auctions. I am a newbie and have couple question regarding auction and I couldn't find answer online.

Baseline: Georgia, Gwinnett county. Redeemable deed (1year) with 20% premium.

Given: For example, in past auction 1 property was due $5k taxes and bidder won with bid $20k. Now I see that county posted list of exceeded funds and for this property there is $20k-$5k= $15k remaining balance and bidder can claim. I thought you will put on table whole bid and wait 1 year to redeem for whole bid amount + 20%. This is not one case, I found a lot of properties like that in past auctions.

Question: Is that right? Because you have more money than others  to bid and freeze now - you won, but rest of funds you can claim back later.