hubzu experience

[Mike Malicad]

hi bp members! has anybody got a success with hubzu.com? we just won a bid but our lawyer advise us not to deal with them...

[Kim Knox]

I have bought through hubzu.  They are fine, but it is not for the faint of heart.  Read the contracts carefully.  I pay for the home inspection before bidding, because you are not allowed an inspection period after executed.  Can be long closings because of deed issues, I have had them take 4-5 months to close.  During that time, if you are paying cash, you are not making any money on your cash, which is frustrating.   I can't remember if this one charges a 5% premium above your bid amount, but I think so.  

So, read the contract with hubzu carefully, and review the contract carefully.  =)

If you lack experience, hire a Realtor.  Hubzu pays Buyer's Agents.  I have seen them market homes prior to the right of redemption period ending on judicial foreclosures.  That can get complicated.