REO / BANK OWNED PROPERTIES BID PACKAGE

REO / BANK OWNED PROPERTIES BID PACKAGE

You are bidding on a Bank Owned Property, the Sale is Subject to Final Approval of the

Bank.

There will be a 5% Buyers Premium charged to the buyer in escrow as a closing cost.

Once the bank approves your bid you will have 7 days to review the existing inspections

and complete any and all additional inspections you deem necessary. Deposits will be

returned if the sale is cancelled during the inspection contingency period.

West Coast Realty Group is an agent of the seller.

Pacific Auction Exchange will act as agent for the High Bidder / Buyer

Bidding is done by submitting your bid at or submitting an

offer directly through Pacific Auction Exchange, Bidwell Properties Inc. (530-230-4939)

When you register to bid at epaxonline you are sent an email immediately, if it does not

show up in your inbox right away then you will probably find it in your spam waste,

make sure you tell your email software that this sender is OK. Many providers

automatically spam auction emails.

On the following pages you will find an Auction flyer, a sample purchase agreement,

REO advisory, buyers premium agreement, the terms and conditions, and instructions on

how to bid.

Good Luck, hopefully you can win the bid!

-Stephen Ostrowski

Pacific Auction Exchange

1163 East Ave. Suite 101

Chico, CA 95926

530-230-4939

Stephen@



REO / BANK OWNED AUCTION

Place Your Bid

Internet AUCTION

Stunning ¡®04 Built Home

3 BED 2 BATH

Built in 2004 - This home is

a MUST SEE, upgraded

everything with travertine

and granite throughout. 9¡¯

and 14¡¯ ceilings, 6¡± floor

moldings, Huge master

suite with GIANT walk in

closet. Someone is going to

get an incredible deal!

FINANCING IS OK!

230-4939

6133 Guilford Cir * Magalia, CA 95954

Online Bidding Ends Nov. 20 th

Preview Dates:

Saturday, Nov. 15th from 10:30am to 12:30pm

Tuesday, Nov. 18th from 4:00 to 6:00pm

Last day to bid on this property is Thursday Nov. 20th.

For more Auction Information, Property Details & to

Request a Bidders Packet Go To

Mag1

Agent/Broker Co-Op Welcomed

Each office is independently owned & operated. Offers may be subject to seller approval.

PAX Bidwell Properties Team

530-230-4939

EPAX Online Terms & Conditions of This Auction

PACIFIC AUCTION EXCHANGE, In conjunction with WEST COAST REALTY GROUP will offer the property for auction on the EPAX

Auctions LLC, internet website according to the following terms and conditions:

This property is currently REO (Real Estate Owned) and the sale is subject to lender/bank approval. You must preview the property in order to bid. Once a

sale is approved there will be a 7-day inspection contingency period. Announcements and information, provided on the EPAX website will take precedence

over printed material. THE PROPERTY IS SOLD ¡°AS IS,¡± AND ALL SALES ARE FINAL. The SUCCESSFUL BIDDER ACKNOWLEDGES THAT THE AUCTIONEER,

THE SELLER AND WEST COAST REALTY GROUP HAVE MADE NO IMPLIED WARRANTY OR REPRESENTATION OF ANY TYPE AS TO THE PROPERTY

CONDITION AND THAT THE PROPERTY IS SOLD WITHOUT ANY WARRANTIES WHATSOEVER, EXPRESSED OR IMPLIED AND SPECIFICALLY THERE IS NO

WARRANTY OR MERCHANTABILITY AND NO WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE. Though all descriptions and information are believed

to be correct, in no event shall auctioneer, listing broker or seller be held responsible for having made or implied any warranty of description, genuineness,

condition etc. The property is open to thorough public inspection at the published property preview dates. The property will be made available to the

buyer¡¯s inspectors for 10 days following the sale approval. Auctioneer reserves the right to withdraw any item before or during the auction. Only registered

bidders may bid on the property being sold, any exceptions to this requirement shall be within the sole discretion of PACIFIC AUCTION EXCHANGE

BIDWELL PROPERTIES INC. Pacific Auction Exchange reserves the right to bid. No allowances, adjustments or rescission of sale will be allowed based

upon failure of the property to correspond to a particular need. The registered bidder will be responsible for any purchase made with his or her unique

EPAX identity and password.

A BUYER¡¯S PREMIUM OF FIVE PERCENT (5%) OF THE SUCCESSFUL BID WILL BE PAID THOUGH ESCROW AS A CLOSING COST FROM

THE BUYER. Bidder acknowledges that a deposit of $2,500.00 is required within 48 hours upon being declared the winning bidder; this

money will be returned immediately if the sale is not approved by the lender/bank, otherwise it will be deposited into escrow.

RESPONSIBILITY OF BIDDER AND INDEMNIFICATION: Bidder agrees to assume the defense of and indemnify and hold harmless PACIFIC AUCTION

EXCHANGE BIDWELL PROPETIES INC. for all claims, loss, damage, injury and liability of every kind, directly or indirectly caused by acts of bidder and/or

it¡¯s agents in connection with this auction or the use of the property by the successful bidder.

If the foregoing conditions or any other applicable conditions are not complied with, in addition to other remedies available to PACIFIC AUCTION

EXCHANGE BIDWELL PROPERTIES INC., West Coast Realty Group and the Seller by law, including, without limitation, the right to hold the successful

bidder liable for the bid price. PACIFIC AUCTION EXCHANGE BIDWELL PROPERTIES INC., as its option may either (a) cancel the sale, retaining as

liquidated damages all payments made by the successful bidder or (b) resell the property publicly or privately and in such event, the successful bidder shall

be liable for payment of any deficiency plus all costs, including the holding costs of the property, the expense of both sales and PACIFIC AUCTION

EXCHANGE BIDWELL PROPERTIES INC. COMMISSION (which is equal to the Buyer¡¯s Premium) and incidental damages. In any action to enforce and/or

recover damages pursuant to this document PACIFIC AUCTION EXCHANGE BIDWELL PROPERTIES INC. shall be entitled to recover its attorney fees,

expenses and all cost of suit incurred in such action.

BROKER PARTICIPATION INVITED: Subject to established PACIFIC AUCTION EXCHANGE BIDWELL PROPERTIES INC. guidelines.

All information in this brochure was derived from sources believed correct, but is not guaranteed. ALL PROPERTY MEASUREMENTS ARE APPROXIMATE. It

is Buyer¡¯s responsibility to verify all permits, property use and property specifications within the 7-day inspection period contingency.

WEST COAST REALTY GROUP is agent of seller.

How Do I Bid?

1.

2.

3.

4.

5.

6.

7.

8.

9.

Request a Bidders Packet from the website: Mag1

Read all information in the Bidders Packet

Register as a Member on the () website (It¡¯s FREE)

An email will be sent to you (Yahoo users may experience technical difficulties)

Activate your membership by clicking the link in the email

Go to a Property Preview

Ask PAX BIDWELL PROPERTIES any Questions about the Auction you may have

Secure Approved Financing so you know your Bidding & Buying Power

Log into the website with your secure Username & Password, Select the

Property you are interested in

10.Click on Watch This Item for the Property you like so you can be notified by

email of any changes in the bidding

11.Submit your bid (remember that your maximum limit will not be revealed to

others unless another bidder pushes the bid higher. Your bid is in confidence

until it is matched

Have Fun & Good Bidding!

CALIFORNIA

RESIDENTIAL PURCHASE AGREEMENT

AND JOINT ESCROW INSTRUCTIONS

For Use With Single Family Residential Property ¡ª Attached or Detached

(C.A.R. Form RPA-CA, Revised 11/07)

Date

, at

, California.

Chico

1. OFFER:

A. THIS IS AN OFFER FROM

(¡°Buyer¡±).

High Bidder

B. THE REAL PROPERTY TO BE ACQUIRED is described as 6133 Guilford Cir, Magalia CA 95954

, Assessor¡¯s Parcel No. 064-210-002

, situated in

, County of

, California, (¡°Property¡±).

Magalia

Tehama

C. THE PURCHASE PRICE offered is

.

Dollars $

D. CLOSE OF ESCROW shall occur on

(date) (or

Days After Acceptance).

2. FINANCE TERMS: Obtaining the loans below is a contingency of this Agreement unless: (i) either 2K or 2L is checked below; or (ii) otherwise

agreed in writing. Buyer shall act diligently and in good faith to obtain the designated loans. Obtaining deposit, down payment and closing costs is not

a contingency. Buyer represents that funds will be good when deposited with Escrow Holder.

2,500.00

A. INITIAL DEPOSIT: Buyer has given a deposit in the amount of . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $

to the agent submitting the offer (or to

), by personal check

(or

), made payable to

,

which shall be held uncashed until Acceptance and then deposited within 3 business days after Acceptance

(or

), with

Escrow Holder, (or

into Broker¡¯s trust account).

B. INCREASED DEPOSIT: Buyer shall deposit with Escrow Holder an increased deposit in the amount of . . . . . $

Days After Acceptance, or

.

within

C. FIRST LOAN IN THE AMOUNT OF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $

(1) NEW First Deed of Trust in favor of lender, encumbering the Property, securing a note payable at maximum

interest of

% fixed rate, or

% initial adjustable rate with a maximum interest rate

of

%, balance due in

years, amortized over

years. Buyer shall

pay loan fees/points not to exceed

. (These terms apply whether the designated loan

is conventional, FHA or VA.)

(2)

FHA

VA: (The following terms only apply to the FHA or VA loan that is checked.)

Seller shall pay

% discount points. Seller shall pay other fees not allowed to be paid by Buyer,

not to exceed $

. Seller shall pay the cost of lender required Repairs (including

those for wood destroying pest) not otherwise provided for in this Agreement,

not to exceed

$

. (Actual loan amount may increase if mortgage insurance premiums, funding

fees or closing costs are financed.)

D. ADDITIONAL FINANCING TERMS:

Seller financing, (C.A.R. Form SFA);

secondary financing, . . . . . . . . . . . $

(C.A.R. Form PAA, paragraph 4A);

assumed financing (C.A.R. Form PAA, paragraph 4B)

(2,500.00)

E. BALANCE OF PURCHASE PRICE (not including costs of obtaining loans and other closing costs) in the amount of . . $

to be deposited with Escrow Holder within sufficient time to close escrow.

F. PURCHASE PRICE (TOTAL): . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $

G. LOAN APPLICATIONS: Within 7 (or

) Days After Acceptance, Buyer shall provide Seller a letter from lender or mortgage loan

broker stating that, based on a review of Buyer's written application and credit report, Buyer is prequalified or preapproved for the NEW loan

specified in 2C above.

H. VERIFICATION OF DOWN PAYMENT AND CLOSING COSTS: Buyer (or Buyer¡¯s lender or loan broker pursuant to 2G) shall, within

7 (or

) Days After Acceptance, provide Seller written verification of Buyer¡¯s down payment and closing costs.

I. LOAN CONTINGENCY REMOVAL: (i) Within 17 (or

) Days After Acceptance, Buyer shall, as specified in paragraph 14, remove

the loan contingency or cancel this Agreement; OR (ii) (if checked)

the loan contingency shall remain in effect until the designated loans are

funded.

J. APPRAISAL CONTINGENCY AND REMOVAL: This Agreement is (OR, if checked,

is NOT) contingent upon the Property appraising at no

within 17 (or

less than the specified purchase price. If there is a loan contingency, at the time the loan contingency is removed (or, if checked,

) Days After Acceptance), Buyer shall, as specified in paragraph 14B(3), remove the appraisal contingency or cancel this Agreement.

If there is no loan contingency, Buyer shall, as specified in paragraph 14B(3), remove the appraisal contingency within 17 (or

) Days

After Acceptance.

K.

NO LOAN CONTINGENCY (If checked): Obtaining any loan in paragraphs 2C, 2D or elsewhere in this Agreement is NOT a contingency of this

Agreement. If Buyer does not obtain the loan and as a result Buyer does not purchase the Property, Seller may be entitled to Buyer¡¯s deposit or

other legal remedies.

L.

ALL CASH OFFER (If checked): No loan is needed to purchase the Property. Buyer shall, within 7 (or

) Days After Acceptance,

provide Seller written verification of sufficient funds to close this transaction.

3. CLOSING AND OCCUPANCY:

A. Buyer intends (or

does not intend) to occupy the Property as Buyer's primary residence.

B. Seller-occupied or vacant property: Occupancy shall be delivered to Buyer at

AM

PM,

on the date of Close Of Escrow;

on

; or

no later than

Days After Close Of Escrow. (C.A.R. Form PAA, paragraph 2.) If transfer of title and

occupancy do not occur at the same time, Buyer and Seller are advised to: (i) enter into a written occupancy agreement; and (ii) consult with their

insurance and legal advisors.

Buyer's Initials (

)(

)

The copyright laws of the United States (Title 17 U.S. Code) forbid the unauthorized

reproduction of this form, or any portion thereof, by photocopy machine or any other

means, including facsimile or computerized formats. Copyright ? 1991-2007,

CALIFORNIA ASSOCIATION OF REALTORS?, INC. ALL RIGHTS RESERVED.

Seller's Initials (

Reviewed by

)(

)

Date

RPA-CA REVISED 11/07 (PAGE 1 OF 8) CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA-CA PAGE 1 OF 8)

Phone: (530) 230 - 4939

Fax: (971) 228 - 3072

Agent: Stephen Ostrowski

Prepared using WINForms? software

Broker: Pacific Auction Exchange - Bidwell Properties Inc. 1165 East Ave. Suite 200 Chico, CA 95926

6133 Guilford Cir

95954

Property Address: Magalia, CA

Date:

C. Tenant-occupied property: (i) Property shall be vacant at least 5 (or

) Days Prior to Close Of Escrow, unless otherwise agreed

in writing. Note to Seller: If you are unable to deliver Property vacant in accordance with rent control and other applicable Law, you may

be in breach of this Agreement.

OR (ii) (if checked)

Tenant to remain in possession. The attached addendum is incorporated into this Agreement (C.A.R. Form PAA,

paragraph 3.);

OR (iii) (if checked)

This Agreement is contingent upon Buyer and Seller entering into a written agreement regarding occupancy of the Property

within the time specified in paragraph 14B(1). If no written agreement is reached within this time, either Buyer or Seller may cancel this Agreement

in writing.

D. At Close Of Escrow, Seller assigns to Buyer any assignable warranty rights for items included in the sale and shall provide any available Copies

of such warranties. Brokers cannot and will not determine the assignability of any warranties.

E. At Close Of Escrow, unless otherwise agreed in writing, Seller shall provide keys and/or means to operate all locks, mailboxes, security systems,

alarms and garage door openers. If Property is a condominium or located in a common interest subdivision, Buyer may be required to pay a

deposit to the Homeowners¡¯ Association (¡°HOA¡±) to obtain keys to accessible HOA facilities.

4. ALLOCATION OF COSTS (If checked): Unless otherwise specified here, this paragraph only determines who is to pay for the report, inspection, test

or service mentioned. If not specified here or elsewhere in this Agreement, the determination of who is to pay for any work recommended or identified

by any such report, inspection, test or service shall be by the method specified in paragraph 14B(2).

A. WOOD DESTROYING PEST INSPECTION:

(1)

Buyer

Seller shall pay for an inspection and report for wood destroying pests and organisms (¡°Report¡±) which shall be prepared

by

, a registered structural pest

control company. The Report shall cover the accessible areas of the main building and attached structures and, if checked:

detached

garages and carports,

detached decks,

the following other structures or areas

. The Report shall not include roof coverings. If Property is a condominium

or located in a common interest subdivision, the Report shall include only the separate interest and any exclusive-use areas being transferred

and shall not include common areas, unless otherwise agreed. Water tests of shower pans on upper level units may not be performed without

consent of the owners of property below the shower.

OR (2)

(If checked) The attached addendum (C.A.R. Form WPA) regarding wood destroying pest inspection and allocation of cost is incorporated

into this Agreement.

B. OTHER INSPECTIONS AND REPORTS:

(1)

Buyer

Seller shall pay to have septic or private sewage disposal systems inspected

.

(2)

Buyer

Seller shall pay to have domestic wells tested for water potability and productivity

.

(3)

Buyer X Seller shall pay for a natural hazard zone disclosure report prepared by

.

(4)

Buyer

Seller shall pay for the following inspection or report

.

(5)

Buyer

Seller shall pay for the following inspection or report

.

C. GOVERNMENT REQUIREMENTS AND RETROFIT:

(1)

Buyer

Seller shall pay for smoke detector installation and/or water heater bracing, if required by Law. Prior to Close Of Escrow, Seller

shall provide Buyer a written statement of compliance in accordance with state and local Law, unless exempt.

(2)

Buyer

Seller shall pay the cost of compliance with any other minimum mandatory government retrofit standards, inspections and

reports if required as a condition of closing escrow under any Law.

.

D. ESCROW AND TITLE:

(1) X Buyer X Seller shall pay escrow fee 50 / 50 Split

.

Escrow Holder shall be Fidelity Title and Escrow

.

(2) X Buyer X Seller shall pay for owner¡¯s title insurance policy specified in paragraph 12E 50 / 50 Split

.

Owner¡¯s title policy to be issued by Fidelity Title and Escrow

.

(Buyer shall pay for any title insurance policy insuring Buyer¡¯s lender, unless otherwise agreed in writing.)

E. OTHER COSTS:

(1)

Buyer X Seller shall pay County transfer tax or transfer fee

.

(2)

Buyer

Seller shall pay City transfer tax or transfer fee

.

(3)

Buyer

Seller shall pay HOA transfer fee

.

(4)

Buyer

Seller shall pay HOA document preparation fees

.

(5)

Buyer

Seller shall pay the cost, not to exceed $

, of a one-year home warranty plan,

issued by

,

with the following optional coverage:

.

(6)

Buyer

Seller shall pay for

.

(7)

Buyer

Seller shall pay for

.

5. STATUTORY DISCLOSURES (INCLUDING LEAD-BASED PAINT HAZARD DISCLOSURES) AND CANCELLATION RIGHTS:

A. (1) Seller shall, within the time specified in paragraph 14A, deliver to Buyer, if required by Law: (i) Federal Lead-Based Paint Disclosures and

pamphlet (¡°Lead Disclosures¡±); and (ii) disclosures or notices required by sections 1102 et. seq. and 1103 et. seq. of the California Civil Code

(¡°Statutory Disclosures¡±). Statutory Disclosures include, but are not limited to, a Real Estate Transfer Disclosure Statement (¡°TDS¡±), Natural

Hazard Disclosure Statement (¡°NHD¡±), notice or actual knowledge of release of illegal controlled substance, notice of special tax and/or

assessments (or, if allowed, substantially equivalent notice regarding the Mello-Roos Community Facilities Act and Improvement Bond Act of

1915) and, if Seller has actual knowledge, an industrial use and military ordinance location disclosure (C.A.R. Form SSD).

(2) Buyer shall, within the time specified in paragraph 14B(1), return Signed Copies of the Statutory and Lead Disclosures to Seller.

(3) In the event Seller, prior to Close Of Escrow, becomes aware of adverse conditions materially affecting the Property, or any material

inaccuracy in disclosures, information or representations previously provided to Buyer of which Buyer is otherwise unaware, Seller shall

promptly provide a subsequent or amended disclosure or notice, in writing, covering those items. However, a subsequent or amended

disclosure shall not be required for conditions and material inaccuracies disclosed in reports ordered and paid for by Buyer.

Buyer's Initials (

)(

)

Seller's Initials (

)(

)

Copyright ? 1991-2007, CALIFORNIA ASSOCIATION OF REALTORS?, INC.

Reviewed by

Date

RPA-CA REVISED 11/07 (PAGE 2 OF 8)

CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA-CA PAGE 2 OF 8)

Guilford REO

 ................
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