Section 524

Where the purchaser at the auction sale has deposited 25 per cent of the auction money in pursuance of Rule 522 and fails to pay the balance of the price as required therein, he shall forfeit the money paid as well as all claims to the property or to any of the sum for which the property at any time subsequently be sold. The forfeited money shall after defraying all costs, charges and expenses of sale be made over to the Bank.