Got a question for those of you that have bidded on and purchased REO properties off of Hubzu.
When they have a "Own It Now" price displayed, if I was to win the auction for less (much less) than the Own It Now price, is their counter going to be a little less than that, or is that just going to be what they counter with regardless in your experience?
Just trying to get my numbers in order, as they are getting close to what I was targeting to purchase the property at.
I've had a very similar situation with hubzu. The countered when the auction was over but they only came down a couple thousand. From my experience, they don't come down much initially. However if no one is meeting the reserve amount, they will eventually keep lowering the price to get it sold. I actually bought a house recently through hubzu the started st 190k. After 3 attempts to sell and know one willing to pay, I was able to buy it at 152k in a months time. So sometimes you need patience with hubzu.
All the best
Yeah I've been waiting them out for a while now. Getting close!
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