Hubzu

4 Replies

I've bought a few houses before through Hubzu, and I am currently bidding on one right now.  The auction ends in about 4 hours.  The reserve has not been met yet and someone is bidding against me.  Of course, I know that their "system" may be making fake bids until the reserve is met.  But what about this idea - what would stop a 7 year-old kid in BF Egypt from making bids on this house?  Really, they don't require a Realtor to bid, don't require any proof of funds to bid, don't require any credit card hold to bid, or anything.  Has anyone else got any thoughts on this?

Your right Bryan, i have placed several bids over the past year to be out bidded by who I believed to be hubzu themselves and I also had concerns that the way the bidding process works you can easily get out bid by someone not as serious.

well, the list price on the MLS was 74. I went to 66 and still didn't meet the reserve. But it did end with me being the high bidder (only one other bidder, and who knows, it could have been a Hubzu robo-bidder).

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