Hubzu

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.

You bid. You're the top bidder. You still don't get the property. It's happened to me and several other people I know. Customer service is non existent. Its honestly awful. DON'T do it to yourself or your money which they hold on to.

Hubzu should not be allowed to do business with honest people. They provide no service and feed you incomplete and inaccurate information. After a week of inquiries regarding a cash, as is bid, I grabbed my hat and ran. Just in time.

My clients appreciate the auction's bid transparency over a traditional sale. As with any real estate purchase, be sure to have buyer's attorney review title and do due diligence. A little effort equates to good value overall!

I've won the highest bid on a house in Georgia but then shortly after I received an email saying that my back up bid was below the sellers limit. I did not know what that meant so I called them and learned that they actually wanted $23,700 more for that property than the highest bid. This is the second time that the property has been auctioned. If they wanted more money, they should either disclose the lowest acceptable bid or they should start the bidding at a higher number. It was very disappointing. Specially, since I would never have known anything unless I had checked my email.
Also, knowing my interest in the property, speaking to human, could have worked out negotiation for that deal.
These people do not appear to know what they're doing and enjoy hanging onto those properties!

I'm trying to bid on a property, but right as it starts, someone bids 60K over asking. Why? This same person then changes his bid three times over the course of the next day. Clearly, this is a scam or an inside job, bidding against yourself. See photo attached!

Since when do you need to provide someone with your social security number to place an offer on a property? I am a licensed Real Estate Broker and find this absolutely absurd. I would never give out that information nor would i ever recommend my clients do. We live in a day in age with so much security fraud and this is what they request. There are plenty of ways to request identification how about ID to start off. So apparently if you feel uncomfortable providing this very personal and sensitive information you can't bid on a property. Ok good luck i guess other fools will have no problem in releasing this info

It has now been 11 business days since I bid unsuccessfully on a Hubzu listing. My $1,000 deposit has yet to be refunded in spite of numerous attempt via the "on line Chat" which of course if useless. While I am confident I will eventually receive my refund it should not be this hard. Obviously floating money is a profit center for Hubzu. Why else can I return a $10 item at Target and have my account credited the same day but a Hubzu refund takes an act of Congress.

I am both an agent and investor and I have either bought for myself or represented other investors on dozens of Hubzu deals. I see a lot of bad reviews here, but people don't always understand how Hubzu does things. They like to play games with the starting bids and reserve prices, but if you stick to your guns and let them bring their price to you, you can save a lot of money. Just be very careful with the closing process, as they have no qualms about giving out title with defects. Best to check with a R. E. attorney. Also, if they try to speed up your closing date much sooner than what you agreed to contractually, don't be intimidated. Either say, "no thank you, I will close on the contract date", or try to negotiate a few hundred bucks off the price in exchange for quicker closing. As for the 4.5% buyers premium and $299 website fee, they are obnoxious for sure, but if you get a good enough deal, it's just a cost of doing business.

Totally frustrating site. Forced to use it by the seller (bank) in spite of many attempts to talk the bank into just doing a regular real estate deal.
Also, there is a 5% buyer fee that doesn't cover any other costs. Rip off!

BUYER BEWARE! We submitted a bid for this property and "won" but then found out it's not what you think. Deed is a Commissioners Deed, which complicates matters. Entire contract is so thorough on all points to cover the Seller, it leaves you scratching your head as to why you'd ever want to do business with this company. Not to mention the property is currently occupied and, due to Covid, cannot be evicted. And since you would ‘own' the property, all liability falls to you. Our attorney said it would be difficult to insure. But wait: there's more! There is also a Right of Redemption that the property can be repurchased by the Seller within a year. So even if you bought the property, there is no guarantee it will ever technically be yours. This company is taking $1,500 each time they put it back out for bidding. It's been "awarded" at least four times since they got my $1,500. Sure seems like a scam!

I am a real estate agent and my buyer wanted to bid on a property in Euclid Oh on Upper Valley Dr. We put in our bid several times and he won the highest bid. Although he won the highest bid they did not honor his bid. This happened several times. They just re listed the property... why when buyer offered almost the reserve price? I tried contacting the listing agent over 22 times only to have him not return my calls. When i called the customer service number no one ever answers... you will be on hold FOREVER! The home was just re listed today and I will advise my clients to never do business with this company! The house has now been sitting empty for so long that it most likely has/will be vandalized! I have heard similar nightmare stories from other agents. The 5 stars reviews are fake and written by them.

I learned the hard way about Hubzu. I bid, met the reserve, then won against competition. The customer service posted number directed me to an answering machine that did not return my call. Hubzu, next sent an email that said it was allowing others to make final offers. Finally, the property came back up on a new 6 day auction. Who wants to deal with that garbage?

Had COE set for 30 days out but we got it closed a week ahead. Not bad at all. Only downside- the title reps and closing agents are all overseas-thick accents etc etc. Other than that, we were impressed with the streamline process. Cash only folks otherwise it will drag on.

I purchased my childhood home in Little Rock, Arkansas through Hubzu.com. I'm no investor and had never heard of Hubzu. I called my realtor friend to inquire. She said that she had used them before and all went well. The reserve amount was the starting bid amount. I was the only bidder. I bid ONE TIME and won. Within a week or less we closed with there title company and had no issues. I could always reach someone on the phone. Every call and email was returned promptly by the same person. They were very helpful in the process. My childhood home was luckily still in excellent condition. I would recommend this site to anyone.

Terrible business they have here. I tried bidding on a cash only house. No bids for over 30 hours last 15 minutes within 2 bids it sky-rocketed to the conveniently over priced reserve. This is a such a scam dont waste your time with this site

Won auction on foreclosed house. Had it inspected after winning, and found a major oil spill from tank and major foundation issues. This all happened within 48 hours of so. Did not sign contract. Spoke to an attorney at hubby who said they would return the $1000, and then sent me over to a person at hubzu. They kept telling me that yes, they would return the money... I had to call every month. Then finally they acted like they didn't know what it was all about. Never received the $1000 back. Bad company!

I have been trying to get register on this site for over 3 months but the authentication process keeps rejecting me. I go back and forth with the customer service and support until they finally give up and stop responding to me. At first they told me it was a problem on their end, then they would have me go through the process several times repeatedly which doesn't work. This experience was a huge waste of time. It should be taken down immediately. Customer support doesn't know what they are doing. Other sites are available that work better.

Dishonest - Very poor customer service - They set reserve prices with absolutely No Intent of selling the house at that price. They place ghost bids on properties to run up the price, They intentionally stall and cause delays so they can charge You huge fees when the sale does not settle on time. Customer service reps seem to be in place just for the illusion of a legitimate business, and they all sound as if they are off-shore, difficult to understand, and have absolutely No knowledge of what is going on. How are these people still in business?

Not one but two bad experiences with this company and its affiliates. First, the title company does not process title searches for defects on buyers behalf even though they say they do. Misleading information provided throughout the process and seller pushing closing date then come to find out they had the land resurveyed to include less land than advertised. Tricky part is with it being the end of the year the new parcel of the land split isn't showing and wont until 2018. Premium title is covering up by adding exceptions in the ALTA statement thinking buyer would just sign for it to be over with. Shame on the company and all their affiliates, I strongly encourage all buyers and buyers representation to hire their own title and attorney to represent them or it'll cost you more in the long run to figure out you've bought less than what you thought.

I was highest bidder on same property 4, yes 4, times. Each time received message from hubzu that bid not accepted and property went back to auction. My realtor and I Left messages by voice and email for the seller agent- no replies. Can't get hold of anyone at Hubzu directly, they don't return calls. One would think that I've proven to be an interested cash buyer (maybe they want me to finance through them?) and they would at least reach out to me? Auction ended again yesterday and once again I was highest bidder... but alas it was not accepted (no explanation) and property is back to auction. I've killed a month chasing this property, but Hubzu doesn't seem to want to move it.

They are trying to do biz in Florida without being registered to conduct business in Fl. On top of that, their Foreign Profit Corporation shows dissolved in 2017 and revoked in Georgia. Smart people will steer clear.

The property does not exist and the company is a phony. No actual prices. Dont fall for this trap. Its set up to take 4.5% and a technology fee counting on people to back out when a property is available. To cover their shady business they must have some legit ones sometimes.