REO in a note tape for bid

[David Hite]

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?

Thanks

Dave