Sale typeWhat you actually buy. A lien sale gives you a claim on the property and the owner keeps it for now; a deed sale transfers the property itself. A redeemable deed transfers ownership but still gives the former owner time to pay you back. See the full glossary for more terms.
deed
68 O.S. 3131
Interest / penaltyWhat you earn when the owner redeems. Interest is a rate paid over time; a penalty is usually a one-time percentage of the tax or redemption amount. A rate that is bid down during the auction is still interest. See the full glossary for more terms.
interest 1.5% per month (18%/yr) on delinquent taxes until paid
68 O.S. 2913
RedemptionHow long the former owner has to repay the debt and keep the property after the sale. Your money stays tied up until this window closes, so a long period can mean a multi-year wait on a lien. See the full glossary for more terms.
redeemable only before county resale (taxes 3+ years delinquent per 68 O.S. 3105); none after resale
68 O.S. 3125
Bid methodHow the winner is chosen: bidding the interest rate down, bidding a premium above the amount owed, a random or rotating draw, or simply buying at the minimum bid. See the full glossary for more terms.
public auction to highest bidder; minimum bid = lesser of 2/3 of assessed value or total taxes/penalties/interest/costs
68 O.S. 3129
Sale timingWhen sales are typically held. Many counties publish sale lists only a few weeks ahead, and some sell continuously or on their own schedule. See the full glossary for more terms.
June (second Monday; day-to-day continuation set by treasurer)
HybridWhether the sale is online, in person, by sealed bid, or a mix. The format decides how you register and whether you can react to other bids. See the full glossary for more terms.
1.If real estate remains unredeemed, the county treasurer sells it at resale, held on the second Monday of June each year in each county, or, if conducted through an online auction, started on a date and time set by the county treasurer during normal business hours within the full week of the second Monday of June (68 O.S. 3125)
2.On the advertised resale day the county treasurer offers the property for sale at the office of the county treasurer between the hours of 8 a.m. and 5 p.m. and continues the sale from day to day until all the real estate is sold (68 O.S. 3129(A))
3.Bid at the public auction; the real estate is sold at public auction to the highest bidder for cash or certified funds, and online auctions may accept online payments (68 O.S. 3129(A))
4.Alternatively, the county treasurer may hold the June resale through an online auction instead of the in-person process, during regular business hours and following all other requirements of the resale auction (68 O.S. 3129(B))
5.No property may be sold for less than two-thirds of its assessed value or the total amount of taxes, penalties, interest and costs due, whichever is lesser (68 O.S. 3129(C))
6.If no bid equals or exceeds the required sum, the county treasurer bids the property off in the name of the county (68 O.S. 3129(C))
RegistrationSigning up as a bidder before the sale. Counties set the deadlines and paperwork, which may include an application, identification, and a no-delinquent-taxes statement. See the full glossary for more terms.
Required: UnknownUnknown
Not verified from a source yet.
DepositMoney you must post before or at the sale, often a flat amount or a percentage of your bid. It is usually applied to the purchase price if you win and is often non-refundable if you fail to pay. See the full glossary for more terms.
Required: UnknownUnknown
Not verified from a source yet.
FormsPaperwork a county may collect before you can bid, such as a bidder ID card or a W-9 for tax reporting. See the full glossary for more terms.
Bidder ID card: UnknownW-9: Unknown
EligibilityRules about who may bid. Some counties restrict non-residents or bar anyone who owes delinquent taxes from participating. See the full glossary for more terms.
PaymentHow and when you must pay after winning. Certified or cleared funds are common and personal checks usually are not; missing the deadline typically forfeits your deposit. See the full glossary for more terms.