(a) The time and place at which the auction sale shall take place shall be plainly stated in the advertisement and notice required by section 2546 of this title. At the expiration of the three weeks or as soon thereafter as may be practicable, the said property shall be sold by the Lieutenant Governor at public auction to the highest bidder. However, no bid shall be accepted for a less amount than the taxes and public sewer system user fees upon said property, together with all costs and penalties thereon, and unless accompanied by a cash deposit of ten percent of the amount bid. The amount deposited shall be forfeited in the event of failure on the part of the purchaser to pay the balance of the purchase money upon delivery or offer of delivery by the Lieutenant Governor of the certificate of purchase, and such delivery or offer of delivery shall be made within ten days from the date of sale.
(b) The Lieutenant Governor shall procure from the Recorder of Deeds a certificate of the liens of record against any real property offered for sale at public auction; and the real property shall be sold subject to the provisions of subchapter IV of this chapter. The Lieutenant Governor shall read the relevant certificate aloud prior to offering the specific piece of real property for sale.
(c) After receipt of any purchase money, the Lieutenant Governor shall deduct therefrom the sums due for taxes and public sewer system user fees, penalty and costs. The excess thereof shall be held in trust by the Lieutenant Governor, and in due course shall be paid to the taxpayer, or in the event of redemption shall be paid to the purchaser.
(d) The cost of publication of the notice of sale shall be prorated among the taxpayers concerned by dividing the total cost of the publication by the number of properties advertised, and this cost shall be added to the expenses of the sale by the Lieutenant Governor.