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
$120.00 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.