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They will sell property you are bidding on in group deal whenever they want
By gravatar DevonD (New User) - on Mar 21, 2014 - 03:42 | report
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This site has numerous ethical problems.
1. I purchased a property on it; then no followup from "coordinator" for many days followed by aggressive demands for documents and a check. I obtained a NY attorney; he initiated the concerns about their aggressiveness, then initiated a concern as they were wanting to... See Morerepresent me in the onsite closing at their office. Both these practices are highly unethical and, for them, risky legally. The attorney reviewed the contract document they sent and said, no way. Not only was the language a mess generally and not a standard foreclosure sale contract, but it placed a high level of risk and accountability on the buyer, which would be me. We backed out of that sale.
2. They are gouging the bid process by submitting false bids to compete with you; causing you to increase a bid to reach the actual real sale price you will easily listed on Trulia or . If you want to witness it yourself do what I did. I bid on a property with no bids yet and it was close to the final hours for bidding; to my surprise another handle bid immediately following my bid, hit the reserve and won the sale. Surprise me not, it was relisted the next day for another week bidding process. The someone who bid against me and won the sale was most likely Hubzu.
3. I think the aggression and poor customer service is a significant sign they do not respect the buyer; thus they are working with the selling agent, which are banks, to make it appear you are getting a good deal, thus signing contracts fast without weighing the risks to you.
Just go with your gut and be slow and mindful in working with them if you choose to do so. You are never obligated to buy anything if you win the bid; be sure you have an attorney read the contract and not simply a realtor.
Good luck.
By gravatar BooS (New User) - on Feb 04, 2014 - 21:04 | report
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I started the process and placed an offer on Aug. 27th. I have submitted my earnest money and have been contacted by the title company. My close date is suppose to be on Oct. 16th and it's looking like we are on track. I was a little worried ... See Moreabout the process because of the complaints that I have read on this website, but so far so good. They are a little slow to respond, but they have responded to my questions and have made sure that the seller knew my concerns. One thing for sure is that you have to have patience working with them. In most cases you will not get a same day call back, but they are courteous when they do call.
By gravatar TiffanyB (New User) - on Sep 26, 2013 - 03:14 | report
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As a real estate agent this website is not user friendly. The homes that are for sale have been full of water in the crawl and basement. Mold and they do not do the Point of sale.
By gravatar LaurieK2 (New User) - on Sep 18, 2013 - 19:52 | report
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Hubzu is complete bs, a horrible nightmare! I found a property that was only on the market for 3 days, and it was cheap. I registered and clicked on the buy it now link. The opening bid was $30,000 and the buy it now price was $37,800, which... See Morewas still a good price. Immediately after I clicked buy it now there was a web fee and auction fee of $1,622. I got an email telling me that I had 48 hours to get them a signed contract, proof of funds, and a copy of the earnest money check of $1,890. I clicked buy it now on a Saturday morning at 9:30am. I sent them all of the documents, and called the transaction coordinator that was assigned to the deal. The guy will not return my phone calls, and emails for 48 hours. I paid $56 to fax the contract at the last minute, since I didnt get a reply on the email transmission. I then got an email finally, saying that they did not receive anything from me, and they would be so kind to give me a 24 hour grace period otherwise the seller would reject my offer. I called the customer service line if thats what you want to call it. Everyone there is not capable of answering any questions. They are all from India and barely speak English. In the contract, the listing brokers phone number is the customer service help line. There should be a class action suit filed against this company. Do not use for anything.
By gravatar LorenC (New User) - on Jul 09, 2013 - 01:19 | report
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Made an offer at $36,000 to find out later that the winning bid is $35,000
Made an offer at $53,000 to find out later the sold price is $52,199
There will be no a third offer on for me. Waste of time...
By gravatar CodyT (New User) - on Apr 14, 2013 - 15:19 | report
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Horrible experience!!!! If your the highest bibdder,cash offers, their terms
its still a problem. Customer service- What service? This site needs to be removed.
By gravatar EtoyP (New User) - on Mar 22, 2013 - 11:41 | report
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Nightmare. They have very limited resources, never pick up your phone, return your voicemail, rarely reply your email. Sounds like a remote company in India.
By gravatar EricL2 (New User) - on Mar 22, 2013 - 02:05 | report
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recently bid a house on Draper, UT, The property was only on market 3 days , then the company only accepted back up offers, later i found out my bid is even higher then the buyer.
By gravatar CathyC (New User) - on Mar 19, 2013 - 21:49 | report
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Hubzu is a waste of time and a potentially fraudulent website. I have been the highest bidder on a house that will need a lot of repair work. Hubzu counters my bid $35000 higher. There is NO way for me to make a reasonable counter to their terms.... See MoreI've been trying to buy this house for two months. The bidding process is a joke.
By gravatar ElizabethP (New User) - on Jan 22, 2013 - 02:56 | report
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Waited for auction to start. Made an immediate bid. My bid doesn't show up in history of bids. Within minutes, another user bid twice and increased second bid by $45,000 on a listed price of $15,000.

This is a complete scam.
By gravatar donna1965 (New User) - on Dec 14, 2012 - 04:46 | report
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Real Estate Auctions | Homes for Sale | Hubzu

Hubzu is a recognized leader in the online home auction space. The easy way to buy and sell homes online. Start to finish.

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