HubzuReviews 318

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 went against better judgement and tried to buy a property on hubzu. I was the winning bidder. Tiume to celebrate right? Not so fast. I received an email about every other hour asking me for my deposit. I didnt even have the docs yet. I received docs and signed them and i get 3 emails a day asking for the deposit. I call back and ask them to please answer my questions and let me review the clear title work. They do not answer any questions, tell me they do not have title work and once I give them more cash, they will run a title check. I asked them to show me in writing that if there are title issues, my emd would be returned. They demanded my EMD another 7-10 times via email and never supplied me with what i asked for. I send them a nice email saying I am uncomfortable proceeding to do business with them since they could not answer a question nor supply me with title work for review. They send me a nasty email saying they will charge my credit card for the buyers premium because i didnt close. LOL. Who in their right mind would close on a house with this company? They would not even provide a clear title when asked on a number of occasions.

So i won the bid. Was told via automated email the next day that the bank will be reviewing my offer and that it could take "several weeks" to get back to me. Great. Well, "several weeks" went by and nothing. Reached out to Hubzu and they are greasy in how they answer... they are basically worthless with zero info. Reached out to Listing Agent/Asset Manager and they never replied back with anything. And then they sold the property to someone esle. Wow... just wow. Pathetic. Never again will i waste my time and tie up my credit card hold while they string you out with zero communication. Great customer service Hubzu and bank!

The auction is a scam... worthless. Not a legitimate auction.,. Even if you win. Hubzu. Will most likely not let you buy it. What they do is after you are the high bidder. Hubzu. Tells the other bidders what your winning bid and then asks them to bid above that with. Secret high bid. No matter who bids or what they bid the 2nd time. Hubzu will decide if they want to accept it. What the hell kind of legitimate buying auction is this. Most hubzu properties. Are sub prime. Derelict properties. They won't disclose if their are known defects,. And most likely they all have substantial defects. Thats why they are not being sold by realtors. TOTAL SCAM. MOST LIKELY ILLEGAL.

People from Hudzu bid against you if sell price is not where they want the house to go at. They try to hide major problems with the house. I have seen this in person. I was bidding on a house. On one visit I looked into the well head. You could see the pump the pressure tank. Looking closer you could see the pipes were split from being frozen. After a bidding war with Hudzu workers the house was under contract ( as they say but not really) this has happened 3 times and it goes back on auction. I went back to look at the house. Looked into the well head. They filled in well head with sand right over pump and the cracked pipes. The pump can not run with sand over it. So beware of this company!

They are forcing the price to sell at $300,000 instead of $195,000. If you look at the numbers they can afford to pay the taxes on the house for a year or 2 at less than $4000 a year. At a higher sell price they make up taxes.

Since they have control of the bidding if they don't like the sell price Hudzu will bid against you to push the price up. They will win the bidding. Say the house is under contract and the next month it will go back on the market.

The house I was bidding on this has happened 3 times with them trying to hide the frozen pipes the last go around.

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.

I bid on a couple of houses using hubzu. At first, they seemed fine.

However, when in a bidding war with another buyer, I made the mistake of putting a maximum bid that I would place in their settings. If they still have that, DON'T USE IT. Anyway, the other guy have up, about 10-15k short of my max. I was happy, until the auction closed. Then they added that 10-15k to my bid.

After trying to talk to customer service, I pulled out of the offer, even though it was still a great deal in the long run, but what they did was downright dishonest.

The only redemption was the house ended up selling for 20k less.

3rd time this property is up for auction in the last month. I get it, first time it didn't meet the reserve. 2nd time it met the reserve and then 6 days later it's back up for auction. Keep in mind the 1st auction was won at $719,000 and the 2nd auction was won at $759,000. The really strange thing is the bid to start the 3rd auction. There's no normal variance here! Check the images I'm attaching. You can not convince me that they don't have bots bidding to drive up the price. You want me to believe that someone out bid themselves by $50k during the first hours of a week long auction. Laughable!

I was the highest bidder for a property that had No Reserve Shown, neither was there a symbol on the website that alerted me as to any mention of reserve not being met after I was the highest final bidder. I received an email stating that I was the highest bidder, my offer was under review and it could take up to a week to hear back whether my winning bid was accepted. After many calls and contact with agents, I still had no answer from Hubzu. I called my bank today and had all credit card transactions frozen through Hubzu, wouldn't you know I finally heard back from Hubzu today as well. Again both things happened in the same day, this does not sound like a coincidence, more like fraud. They held the hold on my account and never let me know what was happening for almost 4 weeks.
This message came today 8/7/20
We're sorry to inform you that your bid for property ID *******1853 has been rejected by the seller.
SIgned.
Disgusted with HUBZU

I was under contract to buy a home at 706 Saulsville Mtn Rd WV. I won the bid, sent my earnest money in early April. I received an email from REO settlement services (the people selling the house) stating the title had came back clear and we were ready to go. It said that if I wanted to pay for a Municipal title search I could at my expense. My lender however had Larricks Law Office complete a title search on my behalf and found an old lien from 2004 for $114,000. I notified the parties involved and we canceled the purchasing agreement. Larrick's Law office had attempted to contact the sellers but the seller would not return any calls or emails.
The house has since been re-listed and they are going to try to sell it knowing that there's a lien on this home. I am blessed to have a lender that looked out for me and Larrick's Law Office to do a great job researching this home. I worry about whomever comes after me purchasing this home based on the sellers title search. If you take their word on the title search you will end up with a home you can never sell. Be careful and if you do buy a home like this, don't take their word on anything. Pay to have it completed yourself. As for me, I will never even look at another house that is listed on Hubzu.
On a positive note, I did receive my earnest money back and the communication was always pretty good between me and the sellers agents. I usually received a response within a few of days if not sooner.

Hubzu is possibly the most dishonest company I have ever dealt with and if I can persuade one person to avoid dealing with them then writing this review will have been time well spent. I decided to buy a foreclosed home from them earlier this summer and did everything I was supposed to do, including wiring the earnest money. Then after they had my money, and the deal was done, they reneged. They didn't even bother calling to let me know. I had to make repeated calls to their hotline, my banker, and their law firm to get my money back. I never could actually reach anybody at their company, only their outside law firm. Who knows if they'd have given me the money back if I hadn't been so aggressive. Hubzu sucks. Avoid them at all costs.

There was problems from the get go! I went to look at this property May 25th. We went to see inside a couple days later and wanted to put in a bid and was told the auction ended and they weren't taking any more bids ok. Well a couple weeks later it was back on auction but you couldn't bid on it there was problems with the bidding process so it had to be resubmitted. Then it was back up again. I was the highest bidder and the auction ended on Thursday, June 25th. MLS *******. My realtor submitted my info that night. We were told we would hear something in a couple days if the offer wasn't accepted. Nothing-but it shows on all the realtor sites under review, under contract, contingent. My realtor reached out to Real Homes rep and said it was under review at the bank and she would forward it to supervisors and approval might be as long as a week that was Friday, July 10th. I call customer service Thursday, July 16th for a status and was assured I would hear something, anything within 24-48 hours. But usually he said it would only be a couple hours. Called yesterday left a message, called today left a message. It's been 48 hours absolutely no response.

We put in a cash offer, reserve was met, with a quick closing date. What is the hold up on a house that has been vacant for over 6 months. Do you want to sell the home or not?