Foreclosure of Property
- Circuit Clerk will offer to the public property designated by the Circuit Court to sell at auction.
- Circuit Clerk will sell the designated property to the highest bidder.
- All sales will be in the Quorum Courtroom at the Washington County Courthouse on the second floor.
- Bidders must qualify under the TERMS OF SALE as prescribed by the law.
- The TERMS OF SALE are:
- The purchaser will pay the full purchase price the day of the sale; or
- Pay 10% of the purchase price, non-refundable, with the balance due to the Commissioner, plus 10% interest per annum from sale date until paid, within three (3) months (unless otherwise specified) from the sale date.
- Prior to the sale, any individual who desires to bid on the real estate shall inform the Commissioner that he/she will pay the full purchase price of the real estate in cash or shall present a letter of credit or a bond as required by law to the Commissioner and shall receive pre-approval by the Commissioner to secure the payment of the remainder of the purchase price within ninety (90) days (unless otherwise specified). The Commissioner shall retain a lien on the real property until the balance is paid in full.
The Letter of Credit shall
- Be on letter head of the Lending Institution
- Have the current date
- State the amount of money available to the bidder
- Not state contingencies such as: “Will loan money if certain contingencies are met."
Doe Lending Bank
RE: John Smith (Borrower's Name)
To Washington County Circuit Clerk, Kyle Sylvester
Please be advised that Doe Lending Bank has made a commitment to John Smith to purchase property being sold on (date of sale). This commitment is good for the purchase price of up to $200,000.00.
Foreclosure Sale Guidelines
- The Circuit Clerk’s office does not perform title/lien searches.
- The individual interested in designated properties needs to complete title/record search on their own or hire a title company to perform a title/lien search.
- Property is sold as is with no warranty.
- The Circuit Clerk’s office, Circuit Clerk or member of the clerk’s staff does not provide legal advice regarding property designated for sale.
Foreclosure Sale Schedule
September 27, 2016
10:00 a.m. CV15-1925 5930 Wells Circle Springdale, AR
10:05 a.m. CV15-1482 117 N. W Street Lincoln, AR
11:30 a.m. CV15-1936 17991 Broadview Drive Springdale, AR
October 4, 2016
11:00 a.m. CV16-1090 602 Sedgwick Drive Prairie Grove, AR