The bidder - a local businessman-has offered $40 million for the 2,700-acre property. Two other bidders on the other hand want to turn the ranch into a location for music concerts and an attraction.
"His goal is for the place to be used to help children in a serene setting recover from the trauma of sexual abuse," said a source.
The property was home to an amusement park and some animals such as orangutans, a lion, snakes, horses and elephants.
Michael Jackson's 16-year-old daughter Paris still frequently visits the ranch, travelling 100 miles from her family's home in Calabasas. She has even planted a Zen garden where a ferris wheel once stood.
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