"Note" Buyers

I have come accross two different contacts that have tried to sell me the same property. I looked their companies up and they buy real estate notes. This property is a piece of crap duplex that is about ready to fall down and they are trying to sell it to me for peanuts. I guess my question is what the heck is this all about? One of my contacts is in Dallas and the other in Maryland or something. How can they both be trying to sell me the same damn thing? I just see “red flag” all over the place. Any input from anybody?

Someone probably decided to shop their note to different firms to see who can sell it first. Not shady, just tacky on the part of the noteholder for shopping it and on the part of the brokers for not making the noteholder disclose their other activities with it. :-X

So if I decide to go with firm “A”, then firm “B” is out? I guess I don’t completely understand how this works.

It is pretty much the same as a double close on a house they buy it for $5.00 and sell it to you for $10 Where as if you found the buyer first you could of had it for $2