25-13-705. Procedure when purchaser refuses to pay. If a purchaser refuses to pay the amount bid by the purchaser for the property sold to the purchaser at a sale under execution, the officer may again sell the property at any time to the highest bidder, and if any loss is occasioned by the subsequent sale, the officer may recover the amount of the loss, with costs, from the bidder refusing to pay, in any court of competent jurisdiction. The person refusing to pay the costs that have accrued by reason of the unpaid bid is guilty of contempt of court and may be punished accordingly.