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How is a CalVet repossession sold?

Each property is initially offered for sale through a sealed offer advertising period which is a competitive bid process.  A "for sale" advertisement will appear in a local newspaper which services the area where the property is located.  This advertisement will be listed for a period of at least fourteen (14) consecutive days.  The property will also appear in the local MLS (Multiple Listing Service).  An asking price will be stated in the advertisement, but all offers will be considered.  Only sealed offers are accepted during this period.

To submit a sealed offer, download CalVet's , Offer to Purchase Repossessed Property form or you may use the standard California Association of Realtors Offer to Purchase.  Please contact the Listing Agent shown in the property's detail page or fact sheet for beginning and ending dates of the sealed offer period and to submit an offer. 

If the property does not sell as a result of the sealed offer advertising process, it will remain listed for sale and open to offers until such time as it is sold.

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How is a CalVet repossession sold?