Updated almost 3 years ago on . Most recent reply
Hubzu consecutive bidding by same bidder
Hubzu experts? What does it mean when the same bidder has bid consecutively on the same property? So for example $212 and $213k - makes no sense is this a novice bidder? Bank itself to drum up bids? These are also only bids. Lastly, I read MLS listing is reserve price is this correct?
Most Popular Reply
Elizabeth,
That same bidder is the guy who is controlling the deal. The bidder will make multiple bids on himself to jack the price up, if at the last minute no one tops him and he wins the bid, and put it back on the market the very next day. Also they have a reserve $ they want. So they will try to push it up to that amount. Hubzu is good, also auction.com and xome is good as well.
Auction.com has about 40% of their listings on the MLS, while the other sites have it mostly all on the MLS. Which is the reason why if you look up the address on some of the auction ones, you can see 0 views.
Hope that helped.