(1) Sales by
public auction under this chapter shall be conducted under the
direction of the department or by its authorized representative.
The department's representatives are referred to as auctioneers.
(2) On or before the time specified in the notice of sale
each bidder shall deposit with the auctioneer, in cash or by
certified check, cashier's check, or postal money order payable
to the order of the department, or by bid guarantee in the form
of bid bond acceptable to the department, an amount equal to the
deposit specified in the notice of sale. The deposit shall
include a specified amount of the appraised price for the
valuable materials offered for sale, together with any fee
required by law for the issuance of contracts or bills of sale.
The deposit may, when prescribed in the notice of sale, be
considered an opening bid of an amount not less than the minimum
appraised price established in the notice of sale. The
successful bidder's deposit will be retained by the auctioneer
and the difference, if any, between the deposit and the total
amount due shall on the day of the sale be paid in cash,
certified check, cashier's check, draft, postal money order, or
by personal check made payable to the department. If a bid bond
is used, the share of the total deposit due guaranteed by the bid
bond shall, within ten days of the day of sale, be paid in cash,
certified check, cashier's check, draft, or postal money order
payable to the department. Other deposits, if any, shall be
returned to the respective bidders at the conclusion of each
sale.
(3) The auctioneer shall deliver to the purchaser a
memorandum of the purchase containing a description of the land
or materials purchased, the price bid, and the terms of the sale.
(4) The auctioneer shall at once send to the department the
cash, certified check, cashier's check, draft, postal money
order, or bid guarantee received from the purchaser, and a copy
of the memorandum delivered to the purchaser, together with such
additional report of the auctioneer's proceedings with reference
to the sales as may be required by the department.
[2005 c 155 § 118; 1982 1st ex.s. c 21 § 28. Formerly RCW 79.90.220.]