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Hubzu Reviews Summary
The company has garnered a mixed reputation, with some customers appreciating the potential for value in real estate investments and the transparency of the auction process. However, significant concerns dominate the feedback, particularly regarding communication and customer service. Many reviews highlight frustrations with unclear bidding processes, unexpected fees, and a lack of responsiveness from support staff. Customers frequently express disappointment over perceived deceptive practices, including bid rejections and inadequate disclosure of terms. Overall, the sentiment leans towards skepticism, suggesting a need for improved clarity and ethical standards in their operations.
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I reviewed this company earlier. I will add that after submitting the high offer, which they rejected, they accepted a lower offer following two more auctions. I would question not only the ethics of this organization, the business acumen. If this is how the bidding process is handled, one can guess any additional dealings with purchase agreements etc would be handled in a similar, unprofessional manner.
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!
Hi Caryn,
Thank you for your feedback. We previously provided you with the reason why we could not process the refund. Should you have questions about the decision, you may contact us directly at [email protected]. We thank you for the opportunity to respond to your concerns.
Thanks,
Altisource Customer Advocacy Team
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.
Hi Diego,
We are sorry that your experience during the auction did not meet your expectations. Without knowing the details of your situation, it sounds like you may have experienced our “15 minute rule” in which auctions will be extended by 15-minute increments until 15 minutes have passed without bidding activity. This rule is in place as a protection measure to prevent a practice called auction sniping, which is the act of placing bids at the last moment in the hope of denying other bidders time to place a higher bid. To learn more about this, please visit our FAQ page https://www.hubzu.com/about/faq on Hubzu.com.
It is our goal to make your experience as easy and stress-free as possible. If we can provide further assistance at this point, please contact us at [email protected] with your contact information and specific property details. We thank you for your business and hope to meet your expectations in the future.
Thanks,
Altisource Customer Advocacy Team
Be prepared even if you're not the winning bidder to wait and wait to get your deposit back and good luck trying to talk to anyone when you need help.
The auction I was participating ended last week, my bid was 20K below the winning bid, my offer is not valid any longer and yet I can't get my deposit back. Was trying to understand why they're doing this? The only logical explanation is hundreds of $2,500 deposits daily and they keep them for weeks unlawfully... free money?
Hi Aleksander,
Thank you for sharing your experience with us. We have forwarded your concern to the appropriate department for assistance. Feel free to reach out to us [email protected] if you have any additional feedback or questions.
Thanks,
Altisource Customer Advocacy Team
Long story short... They are dishonest, and I won't do business with them again, regardless on how the deal goes from this moment on.
Hi Tom,
We are sorry to read that you have an issue with Hubzu. Unfortunately, we cannot work to resolve your issue as your review does not address any specific incident or concern.
We take our customer care very seriously and it is our goal to not only meet customer expectations but to exceed them. Please contact us directly at [email protected] so that we may address your concern in a more private and personal manner.
Thanks,
Altisource Customer Advocacy Team
They don't respect what was on the bid site; I included a 10 days inspection and their contract didn't have the contingency. I emailed back and forth with the rep, but they won't bulge. Their contract saying "buying waived the right to inspect" which is absolutely false. The premium is supposed to financed but the final contract omitted this. They will not turn utilities on for the appraisal saying is buyer responsibility but then if something happens to the property, during turning utilities on, buyer will be charged the price of repairs. After their contract was sent, I made sure I read everything and mentioned to them what was omitted/missing. The rep said he is changing it to resent to me: it wasn't. They used to be a good company to deal it but no more. Now they are just crooks trying to get the last money you have. Beware when bidding on that site. Very dishonest people. Horrible company
Hi Nafi,
Thank you for sharing your experience with us. We have forwarded your concern to the appropriate department for assistance. Feel free to reach out to us [email protected] if you have any additional feedback or questions.
Thanks,
Altisource Customer Advocacy Team
There are a number of red flags with hubzu and I strongly suggest reading all the reviews and see what patterns emerge.
First, hubzu astroturfs reviews. Look at the posting dates of the reviews, bad ones will be at somewhat regular intervals of a few days to a couple of weeks apart. Good reviews get dumped all at once, they're all one sentence long, and they all sound identical - even down to the obvious "English as a second language" mistakes. Reputable companies don't Astroturf review sites.
Second, hubzu turns a blind eye to shill bidding. Although hubzu's terms and conditions prohibit shill bidding to run up a price, it's obvious from some of these reviews that shill bidding is rampant on hubzu. When a reserve price has already been met and a bidder repeatedly outbids their own previous high bid, that is textbook shill bidding. It's illegal, but hard to prove. Since hubzu charges a buyer's premium, there is a disincentive for hubzu to weed out shill bidding.
Third, hubzu fees are exorbitant. In addition to the 5% buyer's premium there is also a $1000 "technology fee" on top of the $1000 bid fee. All of those fees are on top of standard real estate costs like title searches, closing costs, etc. In the end, buying property on hubzu is likely to cost 10-20% above the hammer price.
Fourth, hubzu has a communication problem. Buyer's and sellers do not communicate directly, they must use hubzu as an intermediary. The problem with that is hubzu is based in Bangalore, India and their customer support staff barely speaks English. When dealing with legal matters, it is vital to be properly understood. Hubzu falls woefully short in this area.
Here's a direct quote from one of hubzu's planted reviews, "easy to use very helpful with getting code and also give phone number to contact and 24/7 service good". Be honest, are those the polished communication skills you want relaying your thoughts and concerns in a real estate transaction worth hundreds of thousands of dollars?
Like I said, lots of red flags. Hubzu isn't reputable, transparent, or cost effective. And while it's not an out and out scam, there's a lot of sliminess about hubzu.
Hi Jamil,
We are sorry to read that you have an issue with Hubzu. Unfortunately, we cannot work to resolve your issue as your review does not address any specific incident or concern. In regards to the reviews on Sitejabber, we appreciate all feedback provided by our customers. Please note that SiteJabber has its own method to prevent fake reviews. Also, Hubzu does not promote shill bidding in which the specified topic is addressed on our FAQ page: https://www.hubzu.com/about/faq#auctions. We agree that understanding the fees in any business transaction is important and an integral part of the purchase. We strive to be fair and transparent with any fee that you may occur when doing business with Hubzu. To understand our fees accurately, please contact us directly at Hubzu Customer Care via chat or phone at 1 855-882-1314.
We take our customer care very seriously and it is our goal to not only meet customer expectations but to exceed them. Please contact us directly at [email protected] so that we may address your concern in a more private and personal manner.
Thanks,
Altisource Customer Advocacy Team
I "won" the bid until they wrote back that I needed to submit a final offer. Nobody bids and then, as soon as you bid a mystery bidder apppears!
Will never go back, try auctions.com... they seem to be serious
Maxx
Hello Maxx,
We are sorry that your experience during the auction did not meet your expectations. Because many bidders may have experience with traditional auction formats, a Hubzu bidder may think they have won the right to purchase the property because they have the highest bid. This is not always the case. Reserve price is one factor that may prevent the highest bidder from winning the property. A reserve price is the minimum the seller is willing to accept for the property in an auction. If an auction ends without the reserve price being met, and no selected bidder is declared a winner, then the seller reserves the right to accept a lower bid, negotiate with a bidder, or propose new terms to the bidders. It is important to note, it is also the sellers right to simply relist the property for auction again.
If there is anything else we can do to provide you with more information regarding auctions or assist you in future properties, please don’t hesitate to contact us at Hubzu Customer Care at 855-882-1314. We thank you for the opportunity to respond to your concerns and hope to meet your expectations in the future.
Thanks,
Altisource Customer Advocacy Team
First I was the high bidder but they did not disclose after I saw the house the kitchen was stolen. They said it was not there responsibility to tell anyone even the winning bidder. I cancelled the sale and they agreed
Most of the time the banks play games and do not take the highest bid.
They also try to hide there is a 5% added fee to the highest bid. That is a lot of money on most houses. Then there seems to be no shortage of bidders that have no idea why they are over bidding.
Hi Doug,
We are sorry you were not able to acquire the property you were bidding on. We understand that you are frustrated at some aspects of our process. Hubzu has a “Disclaimer” section on its property details page. It is indicated in the section that “The property information and any photographs provided here are for reference only, and are not guaranteed to be accurate.” It is always advisable to visit the property first prior to bidding.
Because many bidders may have experience with traditional auction formats, a Hubzu bidder may think they have won the right to purchase the property because they have the highest bid. This is not always the case. Reserve price is one factor that may prevent the highest bidder from winning the property. A reserve price is the minimum the seller is willing to accept for the property in an auction. If an auction ends without the reserve price being met, and no selected bidder is declared a winner, then the seller reserves the right to accept a lower bid, negotiate with a bidder, or propose new terms to the bidders. It is important to note, it is also the sellers right to simply relist the property for auction again.
We agree that understanding the fees in any business transaction is important and an integral part of the purchase, thus, the fees are indicated in the “Property Fees” section of the Hubzu property details page. We also address this specific topic on our FAQ page: https://www.hubzu.com/about/faq#auctions.
If there is anything else we can do to provide you with more information regarding auctions or assist you in future properties, please don’t hesitate to contact us at [email protected] with your contact information and specific property details or Hubzu Customer Care at 855-882-1314. We thank you for the opportunity to respond to your concerns and hope to meet your expectations in the future.
Thanks,
Altisource Customer Advocacy Team
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
Hi Roshonn,
We are sorry that you were not able to acquire the property that you were bidding on. We understand that you are frustrated at some aspects of our process.
Bid deposit is one of the steps Hubzu takes to help ensure that the bidding pool is comprised of serious bidders. The 'Bid Deposit' is a credit card hold that is released once we receive confirmation from the third party escrow agent that your earnest money deposit (or EMD) was received within the time frame set forth in the purchase and sale agreement. If you are the selected bidder and you fail to deliver your earnest money deposit within the required time frame or backs out from the deal, the hold will be converted into an actual charge on your credit card. If you are not the selected bidder the hold will be removed within 4-7 business days after the auction cycle has ended. It is important to note that bid deposit is a not a “debit and credit” but a “hold and release” hence, it will not be shown as a credit or charge in the account.
In regards to the closing, the process may require additional steps to proceed with the closing thus, some transactions may take some time for the property to close. As for the information on the property, the “Disclaimer” section of the Hubzu page states that “The property information and any photographs provided here are for reference only, and are not guaranteed to be accurate.” It is strongly suggested to visit the property prior to bidding.
If there is anything else we can do to provide you with more information regarding auctions or assist you in future properties, please don’t hesitate to contact us at [email protected] with your contact information and specific property details or Hubzu Customer Care at 855-882-1314. We thank you for the opportunity to respond to your concerns and hope to meet your expectations in the future.
Thanks,
Altisource Customer Advocacy Team
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.
Hi Rie,
Congratulations on your winning bid. We are sorry your experience after the win did not meet your expectations. Based on what you’ve written, it appears your winning property may have required additional steps in order to close. Sometimes this takes longer than we would like. We address this specific topic on our FAQ page: https://www.hubzu.com/about/faq#closing.
It is our goal to make your experience as easy and stress-free as possible. If we can provide further assistance at this point, please contact us at [email protected] with your contact information and specific property details. We thank you for your business and hope to meet your expectations in the future.
Thanks,
Altisource Customer Advocacy Team
We won a bid and it was $267 now they are looking for another 72K to accept the deal. Have done multiple deals with Auction.com never had this issue.
Hi Neil,
We are sorry that your experience during the auction did not meet your expectations. Because many bidders may have experience with traditional auction formats, a Hubzu bidder may think they have won the right to purchase the property because they have the highest bid. This is not always the case. Reserve price is one factor that may prevent the highest bidder from winning the property. A reserve price is the minimum the seller is willing to accept for the property in an auction. If an auction ends without the reserve price being met, and no selected bidder is declared a winner, then the seller reserves the right to accept a lower bid, negotiate with a bidder, or propose new terms to the bidders. It is important to note, it is also the sellers right to simply relist the property for auction again.
If there is anything else we can do to provide you with more information regarding auctions or assist you in future properties, please don’t hesitate to contact us at [email protected] with your contact information and specific property details or Hubzu Customer Care at 855-882-1314. We thank you for the opportunity to respond to your concerns and hope to meet your expectations in the future.
Thanks,
Altisource Customer Advocacy Team
Don't trust this altasorse Hubzu action side it is a big scam
Don't trust there information about the property
That don't disclose actual property conditions
If you have any problem with them sue them as I'm doing
You can replay to my review and I can give you the attorney information that is handling my case
To bad I cannot give-5 starts if I can I will don just that
Hi Peter,
We are sorry to read that you have an issue with Hubzu. Unfortunately, we cannot work to resolve your issue as your review does not address any specific property. In regards to the property information provided on the website, they are for reference only and are not guaranteed to be accurate as indicated in the “Disclaimer Section.” It is also important to note that part of the disclaimer states that “It is the buyer’s responsibility to independently verify all information and inspect the property” and that “properties are sold in “as is” condition without warranties.”
We take our customer care very seriously and it is our goal to not only meet customer expectations but to exceed them. If we can provide further assistance at this point, please contact us at [email protected] with your contact information and specific property details. We thank you for your business and hope to meet your expectations in the future.
Thanks,
Altisource Customer Advocacy Team
We participated in one of their online auctions through our Realtor (1st mistake as you as buyer cannot see what's going on, only Realtor had access). They disclose next to nothing about the property, even when it's legally required to do so. And then when auction ends and you discover the glaring issues with the property and get out of the deal, they relist it again and repeat the same game, still not disclosing the major fault with the property that made us walk away. We have watched the same property go through 2 more cycles now without hitting the price they want, and still not seeing the Report thats on file with the Town listed in the attachments to the listing.
Very deceptive business practices in my opinion.
Hi,
We are sorry that your experience during the auction did not meet your expectations. Properties may relist with new auctions for a variety of reasons. Some reasons may involve the property listing itself and new information that needs to be included. The most common reason is that there was not a winner on the previous auction. It is important to understand that there is a reserve price. We address this specific topic on our FAQ page: https://www.hubzu.com/about/faq#auctions. It is also important to note that properties are sold in “as is” condition without warranties as indicated in the “Disclaimer section” of the property details page on the Hubzu website. With that said, it’s always ideal to visit the property before making a bid or offer.
It is our goal to make your experience as easy and stress-free as possible. If we can provide further assistance at this point, please contact us at [email protected] with your contact information and specific property details. We thank you for your business and hope to meet your expectations in the future.
Thanks,
Altisource Customer Advocacy Team
It is impossible to get anyone to answer questions or get in contact with you. We have been in closing limbo for close to 2 months now. Every time we think we are going to close, they hit us for another extension. This has been an enormous headache and is still not over.
Hi Leah,
Congratulations on your winning bid. We are sorry your experience after the win did not meet your expectations. Based on what you’ve written, it appears your winning property may have required additional steps in order to obtain a clear title. Sometimes this takes longer than we would like. We address this specific topic on our FAQ page: https://www.hubzu.com/about/faq#closing.
It is our goal to make your experience as easy and stress-free as possible. If we can provide further assistance at this point, please contact us at [email protected] with your contact information and specific property details. We thank you for your business and hope to meet your expectations in the future.
Thanks,
Altisource Customer Advocacy Team
In my opinion this company is not really trying to sell any foreclosures threw the auction process. They already have a price in mind and all they do is keep re-listing the properties in the hopes that somebody gets into a bidding war and overpays. Just a TOTAL waste of time you're better off looking elsewhere and after reading some other reviews here I am really convinced its not worth my time. Proceed with caution my friends.
Hi Charles,
We are sorry that your experience during the auction did not meet your expectations. We understand your frustration regarding the property’s reserve price. It is important to note that Hubzu.com gives full discretion to the Seller on how the auction will be setup. For more information regarding the reserve price, you may visit our FAQ page: https://www.hubzu.com/about/faq#auctions.
If there is anything else we can do to provide you with more information regarding auctions or assist you in future properties, please don’t hesitate to contact us at [email protected] with your contact information and specific property details or Hubzu Customer Care at 855-882-1314. We thank you for the opportunity to respond to your concerns and hope to meet your expectations in the future.
Thanks,
Altisource Customer Advocacy Team
I have been a real estate broker for 16 years and I have NEVER dealt with a company like this one. The guy I worked with was John J and even though we needed LITERALLY needed a week extension to close he refuses to do so. Why? Because they took 6k of earnest money on an 84k deal. So even though we have an approval and due to TRID guidelines can not close they have shown absolutely no mercy. Every deal I have work with this particular guy on has been a mess and all I can say is beware because sue it seems they just want to steal the earnest money and sell the house to someone else.
HI Timmothy,
We are sorry your experience after the win did not meet your expectations. We have routed your concern to our support for assistance and we will notify you as soon as we get a response. It is our goal to make your experience as easy and stress-free as possible. If you have further questions, please contact us at [email protected] or Hubzu Customer Care at 855-882-1314. We thank you for the opportunity to respond to your concerns and hope to meet your expectations in the future.
Thanks,
Altisource Customer Advocacy Team
Went to review some townhouse etc. they are selling at West New York. Placed some pics on the website, but upon view of the area and house, it did not quite resemble the pics. People around told me that the place is deserted for 2-3 years. Rough estimate of some local contractors is - over $250K gut renovation is required to make the place livable. If you add that to the so called "good deal" + 5% commission etc., it's actually much higher than well maintained and renovated similar properties across the street! Strange this site managed to sell so many properties. It feels like another nationwide housing trouble in the making!
Hi Andy,
Thank you for your valuable feedback and also for bringing this matter to our immediate attention. Please contact us at [email protected] with your contact information and specific property details so that we can conduct a thorough investigation. We will go ahead and have our vendor inspect the property once we have the information.
Thanks,
Altisource Customer Advocacy Team
Buyer beware this is a horrible auction site seems to use straw bidders to raise the bids will not give access to view property and gives false lock box codes or no keys inside boxes will list active auction while negotiating on the side with past bidders the mls needs to kick Hubzu off its listing site the whole process is a scam don't waste your time customer service is based outside of USA don't waste your $ or time on this fraudulent business practice SCAM SCAM SCAM better off just throwing you $ out the window
Hi,
We are sorry your experience during the auction did not meet your expectations. For us to better assist you and investigate the matter, please contact us at [email protected] with your contact information and specific property details. We thank you for your business and hope to meet your expectations in the future.
Thanks,
Altisource Customer Advocacy Team
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.
Hi Anthony,
Because many bidders may have experience with traditional auction formats, a Hubzu bidder may think they have won the right to purchase the property because they have the highest bid. This is not always the case. Reserve price is one factor that may prevent the highest bidder from winning the property. A reserve price is the minimum the seller is willing to accept for the property in an auction. If an auction ends without the reserve price being met, and no selected bidder is declared a winner, then the seller reserves the right to accept a lower bid, negotiate with a bidder, or propose new terms to the bidders. It is important to note, it is also the sellers right to simply relist the property for auction again.
In regards to the bid deposit, this is one of the steps Hubzu takes to help ensure that the bidding pool is comprised of serious bidders. The 'Bid Deposit' is a credit card hold that is released once we receive confirmation from the third part escrow agent that your earnest money deposit (or EMD) was received within the time frame set forth in the purchase and sale agreement. If you are the selected bidder and you fail to deliver your earnest money deposit within the required time frame, the hold will be converted into an actual charge on your credit card. If you are not the selected bidder the hold will be removed within 4-7 business days after the auction cycle has ended. It is important to note that bid deposit is a not a “debit and credit” but a “hold and release” hence, it will not be shown as a credit or charge in the account.
It is our goal to make your experience as easy and stress-free as possible. If we can provide further assistance at this point, please contact us at [email protected] with your contact information and specific property details. We thank you for the opportunity to respond to your concerns and hope to meet your expectations in the future.
Thanks,
Altisource Customer Advocacy Team
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Hi Gina,
We are sorry that your experience during the auction did not meet your expectations. Without knowing the details of your situation, it sounds like you may have experienced bidding on a property under "Special Servicing Conditions." This means that a third party financial institution is involved and that bid approval is not guaranteed and may take longer than usual as indicated on the disclaimer section as well as in our FAQs section: https://www.hubzu.com/about/faq.
If there is anything else we can do to provide you with more information regarding auctions or assist you in future properties, please don’t hesitate to contact us at Hubzu Customer Care at 855-882-1314. We thank you for the opportunity to respond to your concerns and hope to meet your expectations in the future.
Thanks,
Altisource Customer Advocacy Team