The tax sale consists of a public auction where the home is sold to the highest bidder. (Ark. Code § 26-37-202). The winning bid must be at least as much as the amount of delinquent taxes, penalties, interest, and the costs of the sale. If no one bids this amount, the Commissioner may negotiate a private sale. (Ark. Code § 26-37-202).
How to Redeem Your Home After a Tax Sale in Arkansas
Again, you can redeem your home before certification and at any time up until the sale. Also, under Arkansas law, you can redeem within ten days—excluding Saturdays, Sundays, and legal holidays—after the sale. After the Commissioner sells the home at either an auction or a negotiated sale, it must notify you of your right to redeem and get the property back. (Ark. Code § 26-37-202).
To redeem the property, you must pay all taxes, penalties, interest, and costs due. If you don’t redeem, the Commissioner transfers the title to your home to the person or entity that bought it at the sale. (Ark. Code § 26-37-202, § 26-37-203).
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