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What sets the minimum bid?

asked by Clifford H. on 6/11/19

2 Answers

Hi Clifford,

We appreciate your interest on Hubzu. We also apologize for the late response. The starting bid amount is set by the seller prior to the auction period. This is normally a percentage, but definitely lower than the seller's reserve price. The reserve is the undisclosed amount that seller has in mind to sell the property for. It is not shown to bidders but it will be indicated on the property page if the reserve is met. Please keep in mind that the bid amount that can be submitted online may not be lower than what is currently indicated on the listing whether it is the "starting bid amount" or the "current highest bid amount".

Should you need further assistance or need more information regarding auctions and how it works, please don't hesitate to contact us at customeradvocacyteam@altisource.com 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

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FRAUD COMPANY STAY AWAY, YOU WILL LOOSE YOUR MONEY AND THEN POTENTIALLY ALL YOUR OWN POSSESSIONS, WATCH YOUR BANKING INFO

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