{"data":{"id":"us-ok/okla.-stat.-tit.-46-46-46","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 46, § 46-46","heading":"Sale of property - Postponed, continued, changed or","body":"relocated sale.\n\nA. On the date and at the time and place designated in the\n\nnotice of sale, the mortgagee exercising the power of sale shall\n\ncause the property to be sold at public auction to the highest\n\nbidder. To determine the highest bidder, any mortgagor present at\n\nthe sale may suggest in writing the known lots, parcels, or\n\ndivisions of the property in which the property should be sold. The\n\nmortgagee shall conditionally sell the property under each\n\nsuggestion, and if the mortgagor offers no suggestion, then in such\n\nlots, parcels or divisions as may be determined by the mortgagee,\n\nand in addition thereto, shall sell the property as a whole. The\n\nmortgagee shall determine which conditional sale or sales result in\n\nthe highest total price bid for all of the property. An attorney\n\nfor the mortgagee may conduct the sale, and act at such sale as the\n\nauctioneer for the mortgagee. Any person, including the mortgagee\n\nor mortgagor may bid at the sale. Every bid shall be deemed an\n\nirrevocable offer, until the sale is completed and the sale shall\n\nnot be deemed completed until the purchaser pays the price bid in a\n\nform satisfactory to the mortgagee. If a purchaser other than the\n\nmortgagee, when required by the mortgagee, fails to post cash or\n\ncertified funds equal to ten percent (10%) of the amount bid for the\n\nproperty within twenty-four (24) hours of the sale, excluding\n\nSundays and legal holidays, or otherwise fails to complete the sale,\n\nthe mortgagee may proceed with the sale and may accept the next\n\nhighest bid. The party that fails to make such payment shall be\n\nliable to any person who suffers loss or expenses, including\n\nattorney's fees, occasioned thereby and the mortgagee may thereafter\n\nin any sale of property reject any bid of such person. The ten\n\npercent (10%) deposit shall be placed in escrow by the mortgagee and\n\nheld in escrow pending completion of the sale. In the event a\n\npurchaser wrongfully fails to complete the transaction of sale\n\nwithin ten (10) days of the sale or a longer reasonable time\n\npermitted by the mortgagee, any deposit shall be applied first to\n\nthe expenses of the sale and the balance to the debt, and the\n\npurchaser shall be liable to any person who suffers loss or\n\nexpenses, including attorneys fees, occasioned by the resale of the\n\nproperty.\n\nB. The person conducting the sale, for any cause deemed in the\n\ninterest of the mortgagee, the mortgagor, or both, may postpone or\n\ncontinue the sale or change the place of the sale to another\n\nlocation permitted by law, by giving notice, including the new time\n\nand place, by public declaration at the time and place last\n\nappointed for the sale and in any other manner reasonable under the\n\ncircumstances which shall include publication one time at least ten\n\n(10) days prior thereto of a notice of the new date, time and place\n\nof sale, such notice to be directed to the same persons as the\n\noriginal notice of sale, and proof of publication then to be filed\n\nin the office of the county clerk of each county wherein the\n\nproperty to be sold is situated any time before the recording of the\n\nmortgagee's deed executed pursuant to the sale under this act. No\n\nother notice of the postponed, continued, changed or relocated sale\n\nis required.","path":["OK Code","Title 46"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os46.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"69dd3b501b1311036c39898571aa25f3b5fc00876fe7d24c349e9cf994c49994","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-46-46-45","next":"us-ok/okla.-stat.-tit.-46-46-47"},"notice":"GroundRules: Original legal text. Not legal advice."}