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Hubzu has a rating of 2.5 stars from 318 reviews, indicating that most customers are generally dissatisfied with their purchases. Reviewers complaining about Hubzu most frequently mention real estate, earnest money, and credit card problems. Hubzu ranks 97th among Real Estate sites.
If you have the money and a modicum of intelligence it can be a godsend for savvy real estate investors. I bought a great fixer-upper that I'm thrilled with. It was a little scary the first time. I'm still using Hubzu looking for my next property. Pay attention, ask questions and read the contacts! Get an agent or attorney if you don't understand!
Behind there is a broker that sells out of the MLS. I made my offer, the time of the auction ended. The system said: "congratulations! You are the winner" and two minutes after the system accept another offer $ 500 more higher. The web portal has its own offer to raise the price automatically In customer service they never answered my complaint.
I have purchased and sold multiple houses via Hubzu, Altisource, Owners.com. I have nothing but good to say about my expiriences.
There are a number of red flags with hubzu and I strongly suggest reading all the reviews and see what patterns emerge.
First, hubzu astroturfs reviews. Look at the posting dates of the reviews, bad ones will be at somewhat regular intervals of a few days to a couple of weeks apart. Good reviews get dumped all at once, they're all one sentence long, and they all sound identical - even down to the obvious "English as a second language" mistakes. Reputable companies don't Astroturf review sites.
Second, hubzu turns a blind eye to shill bidding. Although hubzu's terms and conditions prohibit shill bidding to run up a price, it's obvious from some of these reviews that shill bidding is rampant on hubzu. When a reserve price has already been met and a bidder repeatedly outbids their own previous high bid, that is textbook shill bidding. It's illegal, but hard to prove. Since hubzu charges a buyer's premium, there is a disincentive for hubzu to weed out shill bidding.
Third, hubzu fees are exorbitant. In addition to the 5% buyer's premium there is also a $1000 "technology fee" on top of the $1000 bid fee. All of those fees are on top of standard real estate costs like title searches, closing costs, etc. In the end, buying property on hubzu is likely to cost 10-20% above the hammer price.
Fourth, hubzu has a communication problem. Buyer's and sellers do not communicate directly, they must use hubzu as an intermediary. The problem with that is hubzu is based in Bangalore, India and their customer support staff barely speaks English. When dealing with legal matters, it is vital to be properly understood. Hubzu falls woefully short in this area.
Here's a direct quote from one of hubzu's planted reviews, "easy to use very helpful with getting code and also give phone number to contact and 24/7 service good". Be honest, are those the polished communication skills you want relaying your thoughts and concerns in a real estate transaction worth hundreds of thousands of dollars?
Like I said, lots of red flags. Hubzu isn't reputable, transparent, or cost effective. And while it's not an out and out scam, there's a lot of sliminess about hubzu.
Hi Jamil,
We are sorry to read that you have an issue with Hubzu. Unfortunately, we cannot work to resolve your issue as your review does not address any specific incident or concern. In regards to the reviews on Sitejabber, we appreciate all feedback provided by our customers. Please note that SiteJabber has its own method to prevent fake reviews. Also, Hubzu does not promote shill bidding in which the specified topic is addressed on our FAQ page: https://www.hubzu.com/about/faq#auctions. We agree that understanding the fees in any business transaction is important and an integral part of the purchase. We strive to be fair and transparent with any fee that you may occur when doing business with Hubzu. To understand our fees accurately, please contact us directly at Hubzu Customer Care via chat or phone at 1 855-882-1314.
We take our customer care very seriously and it is our goal to not only meet customer expectations but to exceed them. Please contact us directly at customeradvocacyteam@altisource.com so that we may address your concern in a more private and personal manner.
Thanks,
Altisource Customer Advocacy Team
2 great properties great prices too excuted very quickly will buy again as soon as the next good buy comes along
We won a bid and it was $267 now they are looking for another 72K to accept the deal. Have done multiple deals with Auction.com never had this issue.
Hi Neil,
We are sorry that your experience during the auction did not meet your expectations. 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 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
Great experience info was helpful people were knowledgeable and helped me with my situation
Thank You Hubzu
Hi Reggie!
We appreciate your feedback. We are glad to know that we have met your expectations. You may contact us at customeradvocacyteam@altisource.com if you have any other concerns.
Thanks,
Altisource Customer Advocacy Team
Bidding is a artificially inflated by Hubzu, shame on Wells Fargo for utilizing these foreigners to sell their foreclosed properties
Hi,
We appreciate you sharing your feedback with us. Rest assured we work very hard to ensure only legitimate and serious buyers are bidding in Hubzu auctions. Our Buyer Verification Program as well as our Bid Deposit Program were designed to address these concerns and protect all parties involved. In addition, we absolutely never place bids corporately or on behalf of the seller. To learn more about these protective programs, please visit our FAQ page https://www.hubzu.com/about/faq on Hubzu.com or feel free to contact Hubzu directly via phone at 855-882-1314. You may also reach out to us at customeradvocacyteam@altisource.com for any other concerns.
Thanks
Altisource Customer Advocacy Team
I placed a bid on the wrong property
Bid was cancelled... Deposit was returned.
No major problems..
Hi,
Thank you for sharing your feedback. Please do reach out to us at customeradvocacyteam@altisource.com if you have any questions.
Thanks,
Altisource Customer Advocacy Team
FRAUDULENT WEBSITE... ARREST THEM! THEY ARE THE SCUM OF THE EARTH AND DO NOT DESERVE THE TIME OF DAY.
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Hi,
Thank you for sharing your positive experience with us. Please do reach out to us at customeradvocacyteam@altisource.com if you have any additional feedback or questions.
Thanks,
Altisource Customer Advocacy Team