According to Oklahoma State Statute 68
§ 3135, the County Treasurer may sell any property
acquired by the County at Resale. This is subject to
approval of the Board of County Commissioners at its
discretion. The Board of County Commissioners has the
power to reject any and all bids. Bids must first be presented in
writing to the County Treasurer’s Office.
Each bidder should research the
records and inspect the property which he/she is
considering prior to entering a bid. Some Federal, State
and City liens may still exist and be valid against the
property.
Upon receipt of the bid, the Treasurer’s
Office researches the property, taking into
consideration, the location of the property, current
market value, and any delinquent taxes that were due at
the time the County acquired the property. Upon
completion of research tentative approval or disapproval
will be given. This procedure is used to save the bidder
the publication costs if commissioners do not wish to
sell the property or do not feel the price is sufficient.
If permission to proceed is given, the
Treasurer’s Office will then prepare the official
bid request. The bidder has an option of paying the full
amount of the bid in cash or completing an affidavit and
paying 10% of the purchase price in cash with the
remaining balance to be paid by personal check. The
Treasurer will collect an additional $100.00\$150.00 in
cash for estimated publication cost and recording fees.
If a portion of the payment is by check or cashier’s
check, the deed will not be issued to the successful
bidder until proof the check has cleared is presented.
The Treasurer then sets the date, time
and place for auction, and notice for publication is
prepared. Said notice will include the legal description
of the property, the amount of bid and the name of such
bidder, stating that on that date and time, sale of said
property so listed shall be made at such price and to
such bidder. Subject to the approval of the Board of
County Commissioners, unless higher bids are received at
such sale.
On the date of the sale, said property
will be sold by the County Treasurer to the highest
competitive bidder or to the original bidder if there be
no higher price offered. The successful bidder is
required to tender at least 10% of the final sales price
plus costs and fees in cash, with the option of paying
the balance by personal check, cashiers check or cash.
Again, if the balance is paid by any means other than
cash under no circumstances will the deed be issued until
proof the item has cleared is received. The sale in any
event shall be subject to the approval of the Board of
County Commissioners in its discretion.
Successful bidder not having money,
Procedures as to awarding to the next highest bidder if
this happens.
Treasurer’s Office then prepares
"County Treasurer’s Transcript of
Proceedings" and accompanying documentation for
presentation to the Board of County Commissioners for
official action.
If approval is given, the Chairman of
the Board of County Commissioners will execute a deed
conveying title to the purchaser of such property.
Upon receipt of the executed deed the
County Treasurer’s Office will file the deed. After
the deed is recorded, the deed is returned to the County
Treasurer. The Treasurer will then contact purchaser of
the property to pick up the deed.
If there is excess publication money,
it is refunded to purchaser after deed is filed.