How to Buy and Sell Real Estate Notes
I think this information will be of value to you, so read along and pay close attention.
Assuming there are no Junior Lien Holders...
In CA, I could find buyers willing to pay 75% of market value for an REO.
In CA, I could roughly buy non-performing notes aka real estate notes for 50% of market value.
So the act of taking a property to sale, and eliminating primarily the BK risk, is worth a full 25% of the homes value.