Hi Marcy,

Because many bidders may have experience with traditional auction formats, a Hubzu bidder may think they have won the right to purchase the property because they have the highest bid. This is not always the case. Reserve price is one factor that may prevent the highest bidder from winning the property. A reserve price is the minimum the seller is willing to accept for the property in an auction. If a bidder disagrees with the reserve, we encourage the bidder to still bid on the property for what they would be willing to pay. Because if an auction ends without the reserve price being met, and no selected bidder is declared a winner, then the seller reserves the right to accept a lower bid, negotiate with a bidder, or propose new terms to the bidders. It is important to note, it is also the sellers right to simply relist the property for auction again.

If there is anything else we can do to provide you with more information regarding auctions or assist you in future properties, please don't hesitate to contact us at customeradvocacyteam@altisource.com with your contact information and specific property details or Hubzu Customer Care at 855-882-1314. We thank you for the opportunity to respond to your concerns and hope to meet your expectations in the future.

Thanks,
Altisource Customer Advocacy Team

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