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Washington County

Posted: Jan 27, 2015 10:26 AMUpdated: Jan 27, 2015 3:06 PM

Sheriff's Property Sale Completed

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Charlie Taraboletti

Fourteen Washington County properties were up for sale Monday as part of Sheriff Rick Silver's property auction.  Sutterfield Financial picked up three tracts in downtown Bartlesville.  Tract one at 116 West Frank Phillips went for $170,000, tract two at 200 SE Frank Phillips went for $399,000, and tract three at 201 SE Cherokee and 320 E. Frank Phillips went for $257,000.  The three tracts appraised for a total of $1,192,550.  The buildings were the subject of foreclosure action.

Of the 14 properties up for sale, two were withheld from the sale and one was a no-bid, no-sale.  State statutes require that a property can only be sold for at least 2/3 of its appraised value.  The properties were sold to pay the outstanding amounts on mortgages and unpaid property taxes.

Central National Bank filed suits in October against ROI Capital Holdings and Union State Bank.  The land is being used as the site of a former auto dealership, Union State Bank, and Indian Coffee Company.

ROI secured the mortgages in July, August, and November of 2012.


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