Large NorCal Community Bank Launches Online Auction to Sell REO Properties

Newport Beach, CA – July 18, 2011 – (RealEstateRama) — North Valley Bank has launched an online auction featuring a portfolio of OREO assets on the Freedom Realty Exchange, a leading online real estate auction platform. Operated and managed by the auction marketing professionals at the LFC Group of Companies, the online auction presents builders, developers and real estate investors with an incredible opportunity to conveniently purchase REO property through a transparent, fair and open bidding platform. The properties, which include residential land parcels, finished lots and retail/office condos, located in various parts of northern California, have a combined suggested value of nearly $13 million.