HubzuReviews 318

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.

Stay away dont waste your time. This company is fraudulent they have their own people bid on homes so you can beat the price. I won on a home 10 Honnis place, newark nj. The amount of 149k was met, and I won at 189k. I wasted my time to place bids. At the end they never conatcted me I had to contact them and at that point they said they dont know why but the seller rejected it ( no answers at all). This was 3 months ago the property is still up for sale at this point. At 149K these people are stupid. Do not get fooled by these people.

Recently won the bid on a property. Had a title search done out of my own pocket because hubzu/altisource/premium title/OCWEN are all affiliates of one another. SHADY!

Made MULTIPLE attempts to contact hubzu's listing broker (unsuccessful), made multiple attempts to contact hubzu's document processor (unsuccessful). Hubzu electronically emailed the Purchase Sale Agreement with the WRONG owner listed as the "seller" of the property. RED FLAGS!

So I questioned the name being given versus the actual deeded owner, got no response. Sent them proof that there was an outstanding lien for $21K, finally someone emailed me back, they stated "seller will pay", then they followed up with another email several days later saying "seller will not pay".

BIDDERS BEWARE - there are disclosures in the PSA stating that hubzu has the right to KEEP your escrow $ even if THEY cancel the sale.

THIS ENTIRE COMPANY IS A SCAM! Do your homework and read reviews prior to bidding - they're accurate (wish I had done this prior to bidding). :(

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!

I was a cash buyer and I was the only bidder, I watched the particular property go through 2 auction cycles and bid on the 3rd. I did not meet the reserve they were looking for, they emailed me with their counter bid which I accepted. It then took them 5 days to actually confirm that I was in fact getting the house, all the time the house was still being offered for counter offers with no personal communication, I realised my bid was probably going through when I saw the listing as withdrawn on realtor.com, it took them 2 more days to email me that I was going to close on the property. They then called me and arranged to close on a particular day of my choosing, but they never sent me the paperwork on time, it came a couple of days later with no explanation or apology. They do seem very focused on making you sweat at every stage of the process, they email you in the middle of the night and expect you to jump when they say jump, but it certainly doesn't work the other way round. I did find that they answered my email questions and also a couple of phone calls too, so I personally had no problem with communications.
I have been watching a few properties go through several cycles of bidding, It seems fairly easy to work out what the reserve the banks are looking for, by a simple search on zillow to find out what the bank actually paid at auction. So that gives you a ballpark figure.
Altogether not a horrible experience, because I was a cash buyer, but I can imagine throwing in a financial institution into the mix would make it even more fraught.
I did in the end get my house, now I have to get the previous owner to leave...

Aug. 2017 I bid on a property, Hubzu countered and I rejected the counter. Three or four days later I placed another bid on the same property. Hubzu countered with my identical offer and I accepted. After waiting for a week and a half for the sales agreement to arrive I received an email stating that my offer was rejected and the property was being re-listed. This is a very deceptive business and I would recommend staying away from them.

As a Active Licensed Realtor, I won a bid on a property, acting as the buyer and principle, requesting a referral/commission, which they agreed to pay. However, the problem came when they wanted me to buy a property without obtaining a PA, county required Certificate of Occupancy Certificate prior to closing, due to uncooperative owner occupants. However a "no inspection contingency", with a "do disturb the occupants" but the county says that the Certificate of Occupancy Certificates will be obtained prior to closing. When I could not get the occupants to cooperate with the occupancy inspections, they wanted me to close without the inspections. When I said no, I will not do that, they became upset and threatened to keep my earnest money deposit, however, due to me know how to articulate the fact of the occupancy certificate and inspection, they decided to suspend my account for three (3) months because I refused to close without obtaining the certificate occupancy inspection. Once I provided supported documentation and justification for not closing on the property, they sent my earnest money back, however, they did suspend my account. I think they need to remove all of the occupants prior to placing the properties on the market and not expect buyers to assume the responsibility of evictions and/or occupancy inspections.

As i bid on the same property twice winning the first but reserve was not met, I understood that, but when I won the next auction on the same property and the reserve was met I waited 9 days (they said up to a week) for the review process and they put it up for auction again with no contact from anyone to explain their reasoning. We are cash buyers, gave them realtor information and were forced twice to jump thru their hoops. We are unable to have a conversation with the assigned listing agent--only reach girls who answer the phones and forward messages. Hiding behind technology programs and not having human contact is frustrating for real people trying to buy a real home (we are not flippers). This is why houses are sitting and going to seed from neglect--very incompetent process.

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

The reserve amount is set to high in the bidding process by the banks. You can bid and bid but never reach the bank reserve price. So the bank tries lowering the initial/starting bid level to acquire more bidders. However, the bank reserve is not changed.

Note: The property fee of 4.5% is charged by the listing agent to pay for the sellers and buyers real estate agents. It can be negotiated and at 4.5% is too high for REO properties.The lowest property tax fee, is 3% (1.5% - Seller Agent and 1.5%-Buyer Agent).