Note Price vs Property Value - why sell the note?

[Chris Coleman]

I'm a newbie to Notes.  I own SF rental property, and am now exploring notes.  In doing my reading and studying, I started browsing LoanMLS to get an idea of what I'm looking at, terms, numbers, etc.  So here is the scenario and my question(s) in trying to understand buying notes only...

A Private Money Loan note (1st lien) has a Selling Price of $67K. The Loan Balance is $74K, term is 8.5%, 30 yr fixed. The Property Value is $150K. I think this looks pretty good, as its a 45% CLTV.

But am I understanding this correctly in that this Seller is selling a property worth $150K for only $67K? (assuming the property valuation is accurate).  Why would they do that? What am I missing here?