(a) The court shall prescribe the contents of the notice of sale, which shall include a description of the property, the time and place of sale, and a statement of the principal terms of sale. In place of the principal terms of sale, the notice may refer to an order of the court or to a written statement containing such information which may be inspected at the place of business of the referee or the referee’s attorney.
(b) A notice of private sale shall state a place where bids or offers will be received and a day on or after which the sale will be made.