Hubzu

As a Realtor, I sometimes get requests from clients to assist with the Hubzu site, and the few times that win, ask me to help review the paperwork.

The site itself is okay and fairly easy to use - the support (people) behind it are nothing short of stupid, inefficient and obviously know nothing about real estate transactions.

My latest deal, while I had a local contact person and local phone number, no one ever answered and I was always contacted via email. A couple times I received a return phone call, it was obvious that the call was being returned from and Indian call center.

Buyer beware, but even more importantly, SELLER beware if you are using these people (or one of their sister sites like OWNERS.com). These people are pathetically incompetent.

I just wanted to update my first review in May 2018. We won an online auction in July 2017, this was a cash deal so closing was only going to take 14-21 days. As of today September 7 2018 we still have not closed on this property. Altisource is the closing agent, with Ocwen Loan Servicing being the seller. I have email communication stating that the seller has title to mobile home placed on the property, only to find out the the seller does NOT have title to the mobile home. Please be very cautious when using hubzu and all businesses associated with this site. Do your homework prior to placing any bid. Make sure to check on unpaid taxes, title search, home inspection, so forth. The reason we have dealt with this so long is to keep another unsuspecting purchaser from being swindled into a shady deal.

I am only reviewing my first interaction with Hubzu. I found that the initial experience was very pleasant and efficient. No long hold times. I am a realtor working on behalf of my client. It can sometimes be very tedious to call third parties to get information on a property, so I was pleasantly surprised with my experience. I look forward to doing business with Hubzu in the future.

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

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

As i bid on the same property twice winning the first but reserve was not met, I understood that, but when I won the next auction on the same property and the reserve was met I waited 9 days (they said up to a week) for the review process and they put it up for auction again with no contact from anyone to explain their reasoning. We are cash buyers, gave them realtor information and were forced twice to jump thru their hoops. We are unable to have a conversation with the assigned listing agent--only reach girls who answer the phones and forward messages. Hiding behind technology programs and not having human contact is frustrating for real people trying to buy a real home (we are not flippers). This is why houses are sitting and going to seed from neglect--very incompetent process.

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

Nothing but a greedy, ignorant, rude, immoral, and unethical company looking out for nothing more than a few extra red cents. I would NEVER go through this company again. We had come out as the highest bid as the auction closed nearly an hour later than the anticipated closing time. Only to find out the next day that the auction was reopened to not just the top two but ALL participants to see who would bid even higher. If you clearly win a bid why open it up again the next day? Why waste the bidders time in saying that the auction is closed but it reopens the next day? GREED! This company should be ashamed of themselves. Would NEVER recommend and would advise others to STAY AWAY!

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!

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?