The method of sale used here can best be described as a written auction. Some call it a candle sale or sale by candle. It is much like an oral auction except that instead of voice bids, written bids are submitted; and, instead of having to travel to attend the bidding, you can submit your bid by mail or via computer and increase your bid by either mail, fax or from your computer on the internet from your home or office.  Bidding will take place over a couple of weeks or until the property is sold. You can find out when new bids come in and what the high bids are by calling a 24- hour recorded message or from our web page at www.auctionrp.com/ar under "View the auction".

2.      Bidding in General

Bids will be received until a high bid is awarded. All bids are irrevocable for 60 days from the date of receipt by the Government. The bid that represents the best price to the Government will be considered for acceptance. The Government reserves the right to reject any and all bids at any time for any reason.

3.      Bidder ID Numbers

Once the bid deposit is received, a bidder ID number will be assigned. The number will be sent by return mail or by return Fax if requested or e-mail. This number is needed for the bid form and for bidding over the Internet. The bidder ID number will be used to identify the bidders on the recorded information and on the auction web page.

4.      Daily Bidding Results

The present high bid at any time is available (24 hours a day) by calling the recorded message at (800) 833-4317, or by viewing the auction at www.auctionrp.com.

5.      Increasing Your Bid

If you learn from the recorded message or from the web page that your bid was not the high bid, you can submit a higher bid until such time as bidding is closed. Increases in previously submitted bids are welcome and the bid deposit from your first bid will apply to subsequent increased bids. The fax number (24 hours a day) for increased bids is 817-978-2063. Bidders can increase their bids over the Internet following the on-line instructions or they can submit bids by Fax. If your bid is not accurately shown on the web page, then you must call us at 817-978-2331. By submitting your bid through our web page, you are agreeing that your Internet bid is a binding offer.

6.      First Call for Final Bids

Once bidding slows down, a date will be set for the receipt of final bids. That date will be announced on the web page and on the voice mail recording. On that date, if no increased bid is received by the stated time, Central, then bidding will close at the stated time and consideration will be given to selling the property to the high bidder. If an increased bid is received between those times, then bidding will be held over until the next business day on the same terms. When bidding stops, the sale will close at the stated time on the next business day.

7.      Final Bids and Ending the Sale

Once bidding stops and a high bid has been determined, the high bidder will be considered for award of sale and the sale will be ended. There is no guarantee that the Government will accept the high bid. The Government reserves the right to stop or discontinue the sale for any reason without award and start a new sale at any time. The Government may resolve bidding conflicts by determining who is the high bidder and high bid and re-open bidding until bidding stops as described above.

8.      Terms of Payment

Bids to purchase the property must be on an all cash basis.  All deposits shall be payable in United States dollars.