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