Property Foreclosures

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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
(Letter Head)

Current Date

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.

Signed

 

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

Date               Time         Court Docs     Address                                                                                                     Parcel

Dec. 4, 2019      10:00 a.m.   72CV-19-1732     300 W. Thurman St. Prairie Grove, Ark. (+Lots 16& 17)                                            805-19518-000 & 805-19519-000                                                                                                                                                                                       

       

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