(a) Bidders shall submit an offer (bid) on a repossessed property in writing, in a sealed envelope, to the Division Of Farm and Home Purchases district office serving the area where the property is located. The envelope shall have on its outside only the local address of the property and the words “Sealed Offer” printed thereon. No other marks shall be permitted.

(b) If the offer is being mailed, then the bidder shall place the offer envelope inside of the mailing envelope.

(c) The offer shall specify the bid price, the property address, the name of the bidder, the bidder's address, plus any terms and conditions proposed if the bid price is less than an offer to purchase for the full cash value.

(d) The bidder shall personally sign the sealed offer.

(e) If an offer is accepted from a bidder who is a veteran as defined in Section 980 of the Military and Veterans Code, that bidder shall pay a minimum down payment of 3% of the price offered for properties valued up to $60,000, or a minimum down payment of 5% of the price offered on all properties valued over $60,000. All other accepted bidders shall pay a minimum ten percent (10%) down payment.

(f) The bidder shall submit a down payment in the form of a cashier's or certified check or money order to the district office within 14 days from the date of the district office's written “Offer Acceptance and Request For Down Payment” letter.