Ark. Code Ann. § 16-66-414: Default of bidder

(a) If any person refuses to pay the amount bid for any property struck off to him or her, the officer making the sale may again sell the property to the highest bidder. If any loss is occasioned, the officer may recover the loss by motion before any court or justice of the peace, if the amount of the loss does not exceed his or her jurisdiction.

(b) The court or justice shall proceed in a summary manner and give judgment and award execution therefor forthwith.

(c) The same proceedings may be had against any subsequent purchaser who refuses to pay. The officer may forever thereafter refuse the bid of the person refusing to pay for property purchased by him or her.