(1) If the property sold on credit sells for more than necessary to satisfy the execution, costs and commission, the officer making the sale shall take a bond payable to the defendant, the owner of the property, but otherwise similar to and having like force and effect as that provided for in KRS 426.490, for the excess.
(2) If the property is sold for cash, any excess after satisfying the execution, charges and commissions shall be paid over by the officer to the defendant whose property is sold.