HubzuReviews 318

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.

Same house 3 auctions. 1st auction my client was the high bidder with 5 people bidding and price value topping out, 2nd auction started $1000. 00 less than topped out price in auction #1. Not one person bid. 3rd auction went back to starting bid way below value. 5 bidders went back to $2000. 00 below highest bid on 1st auction. Site said researve not met again so unsuccessful. Now starting auction #4 (4th week) back at $1000 less than highest bid. We think that hubzu site see's the auto bid limit, bids it up, because we have been successful on auction 1 and 3 within $2,000 of our auto bid but have not met the researve. This is a scam! So many red flag's.

On the 8 arakelian dr home in billerica mass. I did some research.the house sank. Its now the only one in the hood with cinder blocks holding it up. The roof was pushing the walls out. So someone thinks putting.in steel beems will hold it up. Wrong. Whats. Under that house? Try 100 feet deep petemoss. It all ready sank and was raised with the cinderblocks. Yoo hoo its sinking again. So keep putting in more weight. You have to start poring in tons of cement under that house to settle it. Hubzu should at least show there so called homes. Or there. Bottomless pits.

Hi, I just closed my third deal with hubzu. They are a great company. I consider myself experienced in dealing with them. Most people who write these bad reviews do so out of frustration because they don't understand hubzu 's procedures. I do, and i can save u thousand, plus will even show u how to get the house looked at and inspected for free. I charge $25.00 PayPal. If I can't save u at least 2000. 00 I will return your money. Email me. Rnldcch.,, at Gmail

We were in escrow on a House within a gated community which has an HOA. After a month in escrow, the seller was trying to force us to close even though the sellers escrow had not delivered the HOA docs for buyers review, including the HOA demand. After another week of complaining, the Sellers rep said that this was taking too long and we needed to close with or with out the HOA docs. Lol, the escrow company cant even create an estimated closing statement without the HOA info.

After another couple days of back and forth emails, the seller unilaterally canceled our deal. My buyer was devastated.

We were interested in buying a home Hudzu had listed in our town. We worked to win the auction on this one home for 4 months. Every time we thought we were the highest bidder we were told that our bid didn't meet the reserve or that we were outbid by what we believe to be their straw bidder. The auction went back on again and again with no resolution. We know for a fact that were not outbid on this last auction and we even set out a backup bid for an additional $3000. We were told on our last phone call that the property contract had started with another bidder. Last auction a week ago concluded in the same way and the Auction restarted again as before. I believe that they are just a scam in search of a reason to exist. My sister-in-law is a Realtor in Kansas City Metro Area who flips houses and she warned us when we first started bidding that this is the way Hudzu operated. Don't bother bidding on their site, it is a complete waste of your time.

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.

My client won a bid in Columbus OH. We immediately received email after email pushing us to complete everything electronically. Of course it was 3 am! Next morning we signed everything and sent the earnest money to Premium Title in Atlanta GA. We kept on receiving emails that they needed the earnest money, 21 days went by, calling them and dealing with people in India who have no idea of what is going on! The earnest money was lost, a month has passed by and still nothing from the earnest money. They cancel the sale because they "didn't receive the earnest money" and today I receive an email from HUBZU warning me of my suspension from the site! I replied to that email, and NO response. They DO NOT exist!

If I could give them less than 0 I would! The property we were interested was up for auction and we were the high bidder, great you think to yourself but then here comes the "submit your best and highest bid" starting at $20,000 more than what your "winning" bid was! Well we didn't bite, so up it goes for auction again, we don't bid and neither does anyone else. 4 days in the auction is pulled and then it goes to a "preview" and bidding will begin again at 10pm EST. Well this goes on for 4days and nothing happens the bidding start date just keeps changing then BAM, it goes up for a traditional sale! We are thinking this is great, no buyers premium just closing costs. So we put in a reasonable offer and wait 3 days and they send an email with a counter offer $15,100 higher then our offer and give us (according to their own instructions) 40 hours but no less then 24 to either accept, reject or counter. After 3 hours just before we can counter they take the listing down and put it back up for auction! If I knew who we could contact to shut these folks down I would do it in a heart beat! They play by their own rules, obviously no one is monitoring their activities and I find it questionable that someone has a brokers license in every state except one and you will NEVER be able to speak to that listing agent, I'm not even sure they exist. Our advise, just RUN!

I won a bid with hubzu. Nice house, great price. Paid for a inspection, Appraisal wiring fees etc. 1 1/2 week til my closing date I received a email after business hours stating that they were canceling the contract because of title issues. Hubzu houses are not checked for clearrd titles before placing them on their site. I was devastated I as well as my family became emotional attached. They gave me no options no explanation and no fluent English so I could understand what's going on. This would have been my first time purchasing a house therefore I was devastated. This site is a disaster! Before purchasing please make sure in writing that the home you're trying to purchase has a clear title! Please stay away from this site I'm out of 1000 dollars. Please read your contract thoroughly there's things listed to protect hubzu from there mistakes which end up costing you!

This is one of the worst real estate auction sites hands down! They have a "last 15 min" rule, which basically means bidding keeps going on and on, in 15 additional minute intervals, if anyone places a bid in the last 15 minutes... plan on staying up until midnight in some cases. Then they set the reserves so high that even when we were the highest bidder we didn't get the property and then they send out a "back-up bid", to ALL bidders, saying what they really want for the property... thx again for a complete waste of time! The only reason I gave them a ZERO is because they don't have negative numbers or a button I can push to simply blow up their site on the internet with after dealing with these morons.

I placed a bid on a home and with over six hours left in the bidding was outbid by a few hundred dollars. Mind you the reserve was not met. I went to place another higher offer and got a message that the bid had closed with no winners. I asked my real estate agent to check and was told even though the reserve was not met that the contract went to the second person that bid. No explanation as to why the bidding stopped early. I am a very seasoned buyer and deal with these type of sites all the time. This site should be shut down and not be allowed to list properties. I have been scammed and will never use this site again. I am registering a complaint with the Real Estate Commission of Kentucky. I would suggest that everyone else that has had or are having issues do the same within their own state.
Frank