Procedure on Default of Payment.

In default of payment of the full amount of the purchase money within the period mentioned in the last foregoing section, the deposit referred to in section 79 shall after defraying the expenses of the sale, be forfeited to the Government and may, if the Collector so directs, be applied in reduction of the arrear, and the property shall be re-sold and the defaulting purchaser shall have no claim to the property or to any part of the sum for which it may subsequently be sold.