Assignment of Bid at sheriff sale

[Taylor Holden]

Hey all, 

I recently was too busy bidding on another property to notice that a property I did like as well went on the block before I lost the one I went to buy. A wholesaler bought it. He has since approached me saying he has too many deals and would like to Assign the bid to me. I like this because I get the property at his price and he wants this to continue a synergy between our business's. 

In oklahoma when you have the winning bid you have deposit 10% of funds to court clerk in 24 hours. usually this is recorded on ODCR. I have actually not heard of a time it wasn't. Well this sale happened a few weeks ago. Wholesaler is saying he put 10% down but its not showing on ODCR. He wants to assign the bid to me for me to go deposit what is due at the court clerk which he is saying is due noon on Monday, even though I can see the motion to confirm isn't until Thursday at 2:30 pm. I feel like we have to have documents stating this first if its even possible.Second I think you loose the sale if you don't deposit in 24 hours the 10%. Which I don't think he has but he says he did I'm asking for a receipt but he has yet to prove one. 

Basically my questions are

1. Can you assign a winning bid at the sheriff sale?

2. what documents would you like to see?

3. How likely is it he didn't deposit the 10% and doesn't have the deal?

4. how would you feel about this deal? The house is great but alot is strange in the behind works.

[Lisa Williams]

Taylor Holden, I would proceed with caution. I would be very surprised to learn that Tulsa County would allow assignable contracts.Typically, if a winning bidder does not want to proceed with the purchase, the next bidder would be contacted and have the opportunity to buy. You can contact the clerk and find out what the status is, and if you are the next highest bidder, you might be able to purchase without involving a wholesaler. Also, make sure you check for liens with the clerk while you are talking.