(a) Purchase.

1. (1) Buyer and seller shall be responsible for their respective closing costs.
2. (2) As soon as practical after closing, the deed shall be filed by the department receiving the real property in the proper county clerk’s office.

3. (3) Departments are encouraged to review:

   1. (A) Arkansas Code § 26-60-601 regarding exemptions from revenue stamps;
   2. (B) Arkansas Code § 22-5-411 regarding the filing of a deed with the Commissioner of State Lands; and
   3. (C) Arkansas Code § 25-16-706 regarding seller’s responsibility regarding purchase of a title commitment.

(b) Sale.

1. (1) The Real Estate Services Administrator may assist departments in coordinating the closing of property.
2. (2) Buyer and seller are responsible for their respective closing costs.
3. (3) Closing is expected to be within thirty (30) days of the bid opening or acceptance date.