Hubzu

They leave you on hold forever and after so long the just hang up. I was the winning bidder and it's been almost 2 weeks but I haven't heard from anyone

They start out with a low bid. They dont show any bad photos at all. Once the buyer shows interest the jack up the price. Plus lot of bull$#*! service fees.

My wife and I have been bidding for this property that has been on the market for over 3 months. We had the highest bid and allegedly the bank declined our offer. The realtor company assigned to the property doesn't know what he is doing. I heard lies after lies on people going to bid higher. That never happened and the house is back on the market. DO NOT WASTE YOUR TIME ON THIS SITE. I find it hard to believe that the bank won't take the offer made especially when you have a 5% premium and 3% fee for your realtor and other cost that drives the price higher. This home I'm talking about is SEA BREEZE WAY in Menifee.

While Hubzu is a legitimate site to auction site to purchase properties well below market value buyers should be aware of aspects that are troublesome above the normal auction process

~ Bid deposits can be taken even if you did not win in this instance the buyer did not win the bid initially but nearly 2 months later the winning bid fell through and the deposit card was charged and days later they were offered the house on the condition we could close in 15 days which was impossible at this point). It took 2 more months and a credit card dispute to get the deposit back

~ Customer service is terrible: On various instances it has been extremely hard to get into contact with a representative

~ Closing are slow: I have seen this many times, quick closing take months and the buyer is left with the decision to press on or loss the earnest money

~ Information on the property is incorrect / misleading: As with any property (auction or not) I would strongly suggest viewing the property in person prior to biding. The posted pictures will not include obvious damage

With that said, if you can deal with those aspects go ahead and bid away... it could save you a bunch of money

Buying a home through hubzu has been a frustrating experience to say the least.
The house did not close on time and we are currently on our third extension.
Somehow they're getting extensions signed by the seller, but they can't get the deed signed by the seller which seems like fraud. At this point we don't even know if we will be able to close.
If we don't close, as buyers there is a huge loss of money because of the way the contract is written initially, even though it is completely hubzu's fault that we have not closed.
We are getting no detailed responses. The responses we do get our only half the time and they are very late.
And for all this trouble the home appraised at exactly the price that were paying so it's not even a discounted deal. With all the extra fees were actually paying more than we should for this house, if we're even able to close at all.
Also everything is outsourced and there is no realtor to communicate with or to hold accountable when something goes wrong, which puts all the liability and loss on to the buyer.

After purchasing 80 properties online on behalf of the company I work for, once again, HUBZU takes the prize as the WORST online auction platform. The four other online companies we deal with are much better by varying degrees.

Customer Care never answers the phone - and does not return my calls
Emails are not responded to (3 emails to customer care last week never even got a courtesy reply)

Their people are difficult to deal with - It is impossible to get a simple corrections to a contract.

I will keep dealing with HUBZU as my job requires it, but I cringe at the thought of going through another HUBZU ordeal.

HUBZU - LEARN FROM YOUR COMPETITION!
Polite and knowledgeable staff and fast courteous service is the norm elsewhere.
I speak from experience:
70 mostly pleasant purchases from your competition
10 very frustrating purchases from HUBZU.

I know you can do better - the question is, will you?

I have never bought a home before and this whole process was easy as pie. It was a cash deal on a foreclosure. I bid on the property, it was below the reserve price, when the auction ended I had been the only bidder and I was counter-offered the "buy it now" price a few hours later. I accepted since it was a screaming deal. Everything was done through prompt, very easy to read emails and their representatives called every time a new step happened to check in. I found them very friendly, happy to answer questions, knowledgeable and respectful. Yes, they are not from this country, but business is business and they are GREAT at what they do. When I would email for clarification about anything I would get a response within MOMENTS. All of my paperwork was scanned and returned, I didn't have to go to a settlement company, I used the one they provided and everything went perfectly. All the funds I wired easily using their instructions. I was really worried from all the bad reviews but I am glad I took the chance, from my experience I would buy from them again in a heartbeat. My closing was 24 days from auction win, I had everything ready to go and so did they so we bumped it up a day from 25. I love Hubzu and when I am ready to buy again I would have no hesitation perusing their inventory. My experience was based on a cash transaction, so I have no experience when a lender is involved and I never attempted to contact them by phone since their initiative through calling me/emailing me never gave me cause

They stole money out of my account. You have to register and pay $1k in order to bid on the property. I won a bid on a home. But I had to cancel the contract due to the fact that the home had unauthorized work done to the roof. Hubzu couldn't tell me who authorized or did the work. The pictures on the website do not represent the actual status of the home. When I won the bid this roof work had not been done. This roof damage was over $30k. So my buyer canceled the purchase and Hubzu would not return my bid deposit. They actually took it right out of my account without my consent or knowledge. I am still fighting with them to get it back.

I first though that Hudzu was a scam but it's actually well structure, good customer service 24 hours a day. Easy to navigate on their website and placing bids.

Magically 10K Below the last starting bid... I got an email stating that my bid deposit will be returned in 7 days... But I'm going to Cancel the card on them anyway!

Once you win the bid they move quickly and efficiently. If you don't use there title company you'll have to pay for there closing cost. So naturally you will pick to use theirs. They however will not do a Municipal search which means you could be buying a huge problem not just the home. I recommended that if you do this you pay a title company you know extra to do the Municipal search on your behalf. By then they have collected your Earn Money Deposit and you are going to have to fight about these liens or permit issue that they never disclosed. They will proceed to say they were unaware of any issues pertaining to the matter furthermore, you are purchasing AS IS! SO BE CAUTIONS TO SAY THE LEAST. Do your research while your bidding go downtown and get any information on the property you are looking to buy. LOOK OUT FOR YOURSELF. Hubzu is not looking out for you and your not protected if you need contract carefully.

Beware they keep auctioning a condemed home at 8 arakelian dr in billerica mass. It just keeps going on. The roofs caveing in from last years snow. Theres no heat or running water. And the owner passed. Leaveing leins on top of leins. So buyers beware of there money grabing scam!

Thank you for the way HUBZU responded to my inquiries! Keep up the good work! The site is an innovative and practical option to finding great real estate deals.

First off, make sure you understand that your "bid" may include a premium (e.g., 4.5 percent of the bid amount for the bank-owned property I bid on) that significantly increases the amount you ultimately pay. It essentially is the entire real estate commission being shifted to the buyer. Hubzu does adequately inform you about this amount before you submit your bid, but just be aware. Second, for a bank-owned property, the buyer is accepting all the risk regarding a property's condition/defects, so make sure you view the property and get a home inspection before you buy. Third, beware the auction process and the manipulations that occur. For example, I "won" one bidding session, but the reserve wasn't met. So all the bidders were given a chance to submit their "best" bid with the bidding starting at what was obviously the reserve price ($50,000 higher than my winning bid). No problem--I had essentially made an offer and it was rejected. However, the next two Hubzu auctions for this same property suddenly terminated with hours supposedly still left for the auction period. Then I get emails notifying me of some high mystery bid being made, but that I could still submit a "back-up bid" with the bidding starting at (you guessed it) the same reserve price as before. In other words, don't expect to get a bargain in the auction process. Lastly, if all the other complaints I read are true concerning how difficult it is to complete a sale and deal with property defects, you're probably better off if your bid is not successful..

If you're prepared to pay all cash for a house that is as is, you might get through the closing. Everything is handled through India, so be prepared for a lot of apologies but no results.

At the closing you will find that there are a whole bunch of sewer and water and utility charges that are still unpaid on the day of closing.

I had an attorney handle the closing, and they refuse to pay these outstanding charges at the closing, but send you assurances that they are being paid. They never pay.

They give you excuse upon excuse, and you can't have your water turned on until they do, so I had to pay them myself to get water.

After 3 months my house went into tax sale for the $800 in sewer charges. I spoke with 4 different agents in India and finally got one on the phone who told me the following:

"Presently the preservation team has confirmed that the payment is already processed and our post closing team is waiting for the proof of payment. We will try our best to get this issue resolved on priority."

What the hell does that mean after 3 months? What is a preservation team?

As I told them, if my issue was not resolved immediately, I was reporting them to the Department of Banking, who controls real estate transactions. This company should be investigated.

Do not waste your time even looking at any properties listed on Hubzu! Got awarded the highest bidder with the reserve met, then... I tried to get ahold of an agent who's number was disconnected. When i emailed her I recieved a form email stated that "until further notice she cannot be reached. Any questions call Hubzu." When i finally spoke to a rep they could not offer any information other than what is on their site. Then 2 days later i was emailed saying "sorry your bid has been refused" So i was highest bidder, reserve was met, it was an all cash deal with NO contigencies and magically my bid was refused with no reason. Spread the word... DON`T EVEN LOOK IF IT'S LISTED ON HUBZU!

HUBZU has their "5 easy steps" process. None of the people who works for them has no clue! The next investment that I run across with HUBZU attached to it I will run as fast as I can. VERY UNPROFESSIONAL, NO ONE HAS A CLUE, AND NO ONE ANSWERS when you reach out to them. THEY WANT YOU TO FOLLOW THEIR INSTRUCTIONS AND RULES, but yet they do not to abide by their on processes.

First off, to Hubzu, please don't put the same canned response to this post that you do to every bad review (i. E., sorry for your experience Blah blah, please call customer service blah blah) I did all that, it does not help, and it is really insulting.

Here's the reality. Hubzu has a price they want for the property (aka the reserve) This is not an actual auction bid site, although they pretend to be. I too have won several auctions, only to be told my bid is not accepted... hmm, should I then charge hubzu $1000 because they reneged on the deal? How come it does not work both ways?

They will then just keep relisting the property over and over (I was the high bidder on one property THREE times and they still would not sell.)

Save yourself the aggravation, there are plenty of options to buy real estate. I hope hubzu spends the $1000 they took from me well, because I'll never deal with them again, and I am an active real estate investor. Very short sided policy and not great to deal with. Adios.

The staff at Hubzu were knowledgeable and very helpful, concerned about your issue. They couldn't help me with my problem, but heard me out, and directed me to a company that could.

Jaycee was great but would like your website better if it was realtor friendly. Wish you protected the realtor from their customers placing bids without them.

I called to ask for help in updating my new real estate license information. The representative was very patient. Walked me step by step on what I needed to do. Very helpful!

This is the third house my client has purchased through Hubzu. The past twice our experience was very good. Company reps were very professional. We are hoping for the same this time.

Not worth your time. Five times I won a bids five time they came back with a new offer way higher than the original bids. As far as I am concerned this is pure scam or close to it.