Good morning everyone!
So, I am just getting on a few mailing lists to receive tapes of performing, non-performing notes to bid on etc.... I got one the other day which puzzled me. It states that it has an REO to bid on. When I open up the excel sheet, the line that contains the REO has all the data as if it was a note: UPB, payment history etc.... The only difference is that under legal status it is listed as: REO.
When looking at this item, should a bid be made based on what I would pay for the real estate itself and leave all the note related items out of the equation?
You are correct, it's real estate at this point. The note details are no longer of concern.
Mike is correct - you bid based off value of property
That's what I figured! Thank you