Pamela Anderson Malibu Mansion in Escrow

Pamela Anderson is just about to say bye-bye to the 'bu ... she's found a buyer for her beautiful estate and is leaving L.A. for good -- or at least, for now.

The 'Baywatch' star has a buyer for her 4-bedroom pad in the super-exclusive Malibu Colony. She was asking $14.9 million and, although we don't know what the buyer is paying, we do know this -- the Colony is blazing hot and in many cases, homes are selling way above the asking price.

Our sources say the deal still has some contingencies, so it's not a lock ... at least not yet, but it's on the road to closing.

Pamela's soon-to-be-former place is 5,500 square feet ... the estate is decked out with a pool, sauna, outdoor bar, fire pit, retractable glass walls and we haven't even gotten to the guest house. Tomer Fridman has the listing.

The guest home comes with its own lounge, and the bedroom suite features a fireplace, spa tub and sweeping views of the mountains and lagoons.