Post Foreclosure Auction Proceeds

[Aaron Borrego]

Thanks in advance for the help!

Here is my situation: 

Purchased redemption rights & quitclaim deed from the owner of property coming up for auction. The property is worth more than what is currently owed. If the auction goes higher than what is owed, who is entitled to the proceeds?

There are no other liens on the property other than the one that is foreclosing. 

Property is in New Mexico.