Perfectly Nasty Hubzu Deal

3 Replies

Watching a Hubzu auction that ends tonight. Its base bid is too high so it will likely expire. The place is perfectly nasty to scare most away and I would like to have it at the right price.

Anyone ever try to contact the listing agent shown or even the bank to make an offer, post expired auction? How'd it go?

It's a road to nowhere... For the listings in my area, the MLS listings are posted by someone who I believe just posts the Hubzu houses only. I never see the company/brokerage (I think it's Real Property Services or something similar) ever involved in any other type of listings.

You'll likely get a canned response from the "listing agent" that all offers must be made through Hubzu. They'll just keep reposting the auction every week until there's a winning bid that meets the reserve or a winning bidder that accepts their counter-offer if the bid didn't meet the reserve.

Eh well, I'll give it a good effort, let my realtor see if he can find a good contact as well.

You can only buy those properties off HUBZU. You can't submit an offer any other way. They are pretty clear on that and the prices they will take on them. They handle thousands of properties all over the country and they set it up so they don't have to deal with agents and contracts. 

As it was mentioned, they will re list the auction if they don't get the right offer. If they don't get the right price they will slowly lower the price.  

Mark Ferguson, http://Investfourmore.com | [email protected] | http://investfourmore.com | Podcast Guest on Show #68

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