I've won the highest bid on a house in Georgia but then shortly after I received an email saying that my back up bid was below the sellers limit. I did not know what that meant so I called them and learned that they actually wanted $23,700 more for that property than the highest bid. This is the second time that the property has been auctioned. If they wanted more money, they should either disclose the lowest acceptable bid or they should start the bidding at a higher number. It was very disappointing. Specially, since I would never have known anything unless I had checked my email.
Also, knowing my interest in the property, speaking to human, could have worked out negotiation for that deal.
These people do not appear to know what they're doing and enjoy hanging onto those properties!
I bid some property on Hubzu behalf of my client. It is pretty simple but lot of people don't understand how does it work? They keep bidding and messed up. End of the day they never got approved finance or not capable to complete the transaction. Hubzu clearly mention on website that cash or conventional loan accepted. There is a lot of fees beside your bid price including buyer premium, technology fees, inspection or city inspection fees etc. These fees don't count on bid. Lot of bidder think only bid price is final price no other charge like traditional sale. Most of property has buyer premium 5% on bid amount. You must send deposit once you become selected bidder. You can't do any work or change on property if appraisal required to get mortgage. FHA loan always needs to do something including electrical or plumbing related work.
Hubzu is a waste of time. First and foremost, bidding means absolutely nothing. Even if you are the highest bidder, they can pick someone else so don't keep bidding on a house. Also, hubzu will bjd against you just to raise the bid. It also takes forever to get any reply. Try to call Hubzu and see how much information you get. We were the highest bidder. We got a call after 3 weeks saying they had a lower all cash offer. They asked if we wanted a "back up offer" which we declined. Literally in less then 48 hours, the house went back up for auction. Hubzu also has outrageous "fees". Save yourself a headache and bypass anything that uses Hubzu.
We placed a back-up bid on a property that ended up taking over three months to close and required multiple renewals of the bid. In responding to inquiries about the status of the property for the purpose of renewing the bid, listing agents Drew Hershey and Neven Spralja gave us misleading information and then stopped responding altogether when they apparently realized that the existing escrow would close and back-up bids were no longer needed. The Hubzu team seems to have no problem stringing a back-up bidder along so long as it is expedient to the end goal of having a ready buyer. I will never bid on a Hubzu property again. The team sorely lacks basic ethics and communication skills.
This is a fake auction! The auctions are not real auctions! They listed a property for $60,000. The property was on Hubzu for six days. They had 1100 views but I was the only person that bid. At the end of the auction I was the highest bidder but they declined my bid. There was no note of any reserve. They just decided they didn't want to accept my bid even though they put it for sale for $60,000. After rejecting my bid they put it back on the site for 67,000. Why would anybody bit again when it's bait and switch they keep raising the price. It's a total scam!
This company bidding prosses is ghost bidding. As soon someone bid then suddenly someone show up with bid with big differences which you see no where and later it come back again inches system without purchasing
Hello Shiblee,
We understand as a bidder, this may be a frustrating experience. Hubzu has a Buyer Verification Program and a Bid Deposit program to ensure only legitimate buyers are bidding in our auctions and we absolutely do not allow shill bidding. If we identify instances of suspicious bidding activity, we will take action as appropriate to the circumstances. Hubzu is committed to providing a fair and transparent experience for our more than 1.8 million registered users. If you encounter any problems while bidding or have any questions about the bidding process, please contact us immediately at customercare@hubzu.com or call us at (855) 882-1314. We will be happy to assist you through the process!
I purchased a property through this site using a real estate broker. I have never been in an auction where the closing time kept getting extended. In this case over 8 hours. Then Altisource takes over with the most incompetent staff ever to do the closing. Their constant errors led to a 6 week delay in closing. Stay Away!
I have been the high bidder for 7+ auctions, they have dropped the price $500,000 over the listing so far, pictures are not of the property, they are of a lot miles away.
The home is not permitted and 1/2 the property has an easement with the neighbors septic.
No wells, no septic for the home listed,
9688 Barnett Valley Road, *******
I have called hubzu, the listed broker, the bank who owns the property and withen 200 miles of this property this Nevin agent does the same scam on all his listing.
It actually got worse... After I won the bid. They sent me the following email...
Ningshen, Tonrei S
Mon, Aug 17,2020, 4:51 PM
To me, Tonrei, Christopher
Hi Jessiah,
I do apologize. I just received an instruction from seller that we need to cancel this contract due to legal issue.
Seller did not share me more information on what exactly the issue is but property cannot be sale at this time. The offer needs to be cancel.
Once again we apologize for the inconvenience caused.
Thanks,
Tonrei.
Tonrei Ningshen | Senior Specialist, Asset Management - Closing
I'm grateful to everyone that took the time to write an honest review about this scam of a company. I actually fell asleep while bidding and was out bidded. I woke up at 3am to learn that I won the bid? Additonally, I got suspicious when the I found the same property actively listed on a local real estate site. https://www.weichert.com/91115748/. I called my credit card immediately after reading all of these negative reviews. It looks like this is their business model. Getting over on people..
I am a broker and HUBZU charges a bid fee in order to bid but they do not tell you is that they will not negotiate the contract and there are no changes to the contract allowed and the contract is very one sided to the seller. They will not prorate what is typically done, they will not pay anything towards closing and they disclaim a lot. They only state they will issue a deed but do not state a warranty deed. This list just goes on and on and on. This is as bad as I have EVER seen and I have been at this for over 20 years. This is a very deceptive process at best.
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 customeradvocacyteam@altisource.com 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
You bid. You're the top bidder. You still don't get the property. It's happened to me and several other people I know. Customer service is non existent. Its honestly awful. DON'T do it to yourself or your money which they hold on to.
Hi,
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
My clients appreciate the auction's bid transparency over a traditional sale. As with any real estate purchase, be sure to have buyer's attorney review title and do due diligence. A little effort equates to good value overall!
Hi,
Thanks for sharing your experience with us, Anthony! Feel free to reach out to us at customeradvocacyteam@altisource.com if you have any other concerns or questions.
Thanks,
Altisource Customer Advocacy Team
Hubzu should not be allowed to do business with honest people. They provide no service and feed you incomplete and inaccurate information. After a week of inquiries regarding a cash, as is bid, I grabbed my hat and ran. Just in time.
I'm trying to bid on a property, but right as it starts, someone bids 60K over asking. Why? This same person then changes his bid three times over the course of the next day. Clearly, this is a scam or an inside job, bidding against yourself. See photo attached!
Hi,
We understand at times some auctions or bids may appear unusual to the bidder. Rest assured that we work very hard to ensure only legitimate and serious buyers are bidding in Hubzu auctions. Our Buyer Verification Program as well as our Bid Deposit Program (select states only) were designed to address these concerns and protect all parties involved. In addition, we absolutely never place bids corporately or on behalf of the seller. To learn more about these protective programs, please visit our FAQ page https://www.hubzu.com/about/faq on Hubzu.com or feel free to contact Hubzu directly via phone or chat. You may also reach out to us at customeradvocacyteam@altisource.com for any other concerns.
Thanks,
Altisource Customer Advocacy Team
Since when do you need to provide someone with your social security number to place an offer on a property? I am a licensed Real Estate Broker and find this absolutely absurd. I would never give out that information nor would i ever recommend my clients do. We live in a day in age with so much security fraud and this is what they request. There are plenty of ways to request identification how about ID to start off. So apparently if you feel uncomfortable providing this very personal and sensitive information you can't bid on a property. Ok good luck i guess other fools will have no problem in releasing this info
Hi Joe,
Thank you for your feedback on our authorization process. In today’s world, we certainly understand your concern. In fact, that is exactly why we implemented our Buyer Verification Program. Its purpose is to ensure that all bidders who are bidding on the Hubzu auction platform are legitimate and with intent to purchase the property. This program is designed to eliminate fraudulent activity, ghost bidding or non-serious bidders. By verifying each account, we can ensure each bidder has a unique identity which ultimately protects all parties involved. In addition, please note, we only use the last 4 digits of your social security number to verify your identity. It is not stored for future use and is transmitted over an encrypted connection. To learn more about the verification process, please visit our FAQ page https://www.hubzu.com/about/faq#registration on Hubzu.com or feel free to contact Hubzu directly via phone or chat. You may also reach out to us at customeradvocacyteam@altisource.com for any other concerns.
Thanks,
Altisource Customer Advocacy Team
It has now been 11 business days since I bid unsuccessfully on a Hubzu listing. My $1,000 deposit has yet to be refunded in spite of numerous attempt via the "on line Chat" which of course if useless. While I am confident I will eventually receive my refund it should not be this hard. Obviously floating money is a profit center for Hubzu. Why else can I return a $10 item at Target and have my account credited the same day but a Hubzu refund takes an act of Congress.
Hi Linda,
Your feedback is important to us. Please trust us that we will look into this. Could you please provide us with additional details about your concern and include your full name, email, address of the property that you bid on, phone number and the best time to contact you. Once we have all of this, we will aim to contact you in 2 business days. You can send your information to customeradvocacyteam@altisource.com
Thanks,
Altisource Customer Advocacy Team
Totally frustrating site. Forced to use it by the seller (bank) in spite of many attempts to talk the bank into just doing a regular real estate deal.
Also, there is a 5% buyer fee that doesn't cover any other costs. Rip off!
Hi Keith,
We appreciate your feedback and rest assured we will look into this. Could you please provide us with additional details about your concern and once we receive this please give us 2 business days to contact you with an update. We would also like to ask that you to send us your contact details including your complete name, preferred contact method, contact number and property number. You can send your information to customeradvocacyteamt@altisource.com
Thanks,
Altisource Customer Advocacy Team
I am a real estate agent and my buyer wanted to bid on a property in Euclid Oh on Upper Valley Dr. We put in our bid several times and he won the highest bid. Although he won the highest bid they did not honor his bid. This happened several times. They just re listed the property... why when buyer offered almost the reserve price? I tried contacting the listing agent over 22 times only to have him not return my calls. When i called the customer service number no one ever answers... you will be on hold FOREVER! The home was just re listed today and I will advise my clients to never do business with this company! The house has now been sitting empty for so long that it most likely has/will be vandalized! I have heard similar nightmare stories from other agents. The 5 stars reviews are fake and written by them.
Hi Kimberly,
We are sorry your experience after the auction did not meet your expectations. Based on what you have written, it appears that the auction ended without having the reserve being met. Reserve price is one factor that may prevent the highest bidder from winning the property. We address this specific topic on our FAQ page: https://www.hubzu.com/about/faq#auctions. In regards to the reviews on Sitejabber.com, we appreciate all feedback provided by our customers. Please note that Site Jabber has its own strict method to prevent fake reviews. You may want to check their FAQ section to learn more about how they prevent fake reviews from being posted on their website.
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 customeradvocacyteam@altisource.com 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
I learned the hard way about Hubzu. I bid, met the reserve, then won against competition. The customer service posted number directed me to an answering machine that did not return my call. Hubzu, next sent an email that said it was allowing others to make final offers. Finally, the property came back up on a new 6 day auction. Who wants to deal with that garbage?
Hi Jason,
Sorry that your experience during the auction did not meet your expectations. 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
Overview
Hubzu has a rating of 2.3 stars from 318 reviews, indicating that most customers are generally dissatisfied with their purchases. Reviewers dissatisfied with Hubzu most frequently mention real estate, earnest money and credit card. Hubzu ranks 31st among Real Estate sites.
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- Sitejabber’s sole mission is to increase online transparency for buyers and businesses
- Sitejabber has helped over 200M buyers make better purchasing decisions online
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- Sitejabber’s sole mission is to increase online transparency for buyers and businesses
- Sitejabber has helped over 200M buyers make better purchasing decisions online
- Suspicious reviews are flagged by our algorithms, moderators, and community members
Hello Ann Marie,
We take our customers’ feedback very seriously and Hubzu is committed to providing a fair and transparent experience. When an auction marketing cycle ends, the seller, and not Hubzu, determines if they wish to select a bid to proceed with. In some cases, the seller may opt to re-market the property in another auction marketing cycle if the reserve price (the minimum the seller is likely willing to accept for the property) was not met or a bid/offer did not meet the seller’s criteria. Or, the seller may accept a lower bid or negotiate with a bidder. However, please keep in mind that regardless of the bid/offer amount or whether the reserve price is met, the sellers can accept or reject any bid and have the legal right to approve or reject bids, including the highest bid based on all components such as financing type and requested closing date.
We apologize for any misunderstanding and we hope this information will better assist you in future bidding. If you have any additional questions feel free to contact us at customercare@hubzu.com or call us at (855) 882-1314.