(1) Application for examination. The owner thereof, or the marshal of the district court, may apply to the Director to examine it; and
(2) Appraisal. If, in the opinion of the Director, it shall be necessary that such property should be sold to prevent such waste or expense, the Director shall appraise the same; and thereupon
(3) Return to owner under bond. The owner shall have such property returned to him upon giving bond in an amount equal to such appraised value to abide the final order, decree, or judgment of the court having cognizance of the case, and to pay the amount of said appraised value to the Director, the marshal of the district court, or otherwise, as may be ordered and directed by the court, which bond shall be filed by the Director with the United States attorney.
(4) Sale in absence of bond.
(A) Order to sell. If such owner shall neglect or refuse to give such bond, the Director shall issue to any officer or employee of the Bureau of Internal Revenue or to the marshal of the district court an order to sell the same.
(B) Manner of sale. Such officer or employee or the marshal shall as soon as practicable make public sale of such property in accordance with such regulations as may be prescribed by the Director.
(C) Disposition of proceeds. The proceeds of the sale, after deducting the reasonable costs of the seizure and sale, shall be paid to the court to abide its final order, decree, or judgment.