The Big Six...

Here are the Big Six Reasons Why People Abandoned Their Properties or Don’t Cure Their Foreclosure by Selling or Borrowing:

Because Owner has
1. Substance Abuse Problem (drugs and/or alcohol)
2. Skipped
3. In Jail
4. Severe Mental and/or Emotional Problems
5. Is Senile
6. Is Dead

CA CC § 2924J-K addresses the treatment of Surplus funds (excess proceeds from overbids).

A junior lienor is entitled to make a claim for the surplus of a senior encumbrance taken to non-judicial trusteee sale in the order of recording of their lien. Thus, a 2nd TD or involuntary lienholder is entitle to claim the surplus from t-sale of the 1st TD to satisfy their obligation, then the 3rd takes a bite, if any left to bite, etc. in a pro-tonto order of application of funds. No Lone Ranger jokes, please (unless exceptionally funny).

I guess the real question becomes: Do you want to perfect title in order to own the property or make a transactional profit? My approach would be different as to the Play, tactics, etc.