Updated almost 10 years ago on . Most recent reply
hubzu experience
Most Popular Reply
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.