Instructions for Bids on County Owned Property Acquired at Resale

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.

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 will pay the full amount of the bid. The Treasurer will collect an additional $75.00 for estimated publication cost and recording fees.

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 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 County Clerk will mail the deed to the purchaser.

If there is excess publication money, it is refunded to purchaser after deed is filed.

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