Has anyone used a HML (Hard Money) to purchase a Hubzu property?

1 Reply

I see a Hubzu property that I'd like to make an offer on.

***Now before we get into this, let me tell you that I have in fact researched Hubzu, heard about how tons of people hate it, and am aware of the buyer fees they charge.***

My Question: Can a one of these Hubzu "Cash only" properties be purchased using hard money? I have excellent credit + have spoken with a few hard money lender's, so I already know the lender I'd go with

- Does Hubzu allow a buyer to purchase the home using Hard Money?

- Will Hubzu honor a "approval letter" from the hard money letter?

- Do most Hard Money Lenders REQUIRE a full inspection, with access to interior of the house, before lending money?


... Basically, I'm trying to figure out if it's possible/makes sense to purchase a property on Hubzu using hard money.


I can speak for my experience:

- Does Hubzu allow a buyer to purchase the home using Hard Money? 

I put the bid in as a cash buyer and brought a hard money lender after I won the auction.

- Will Hubzu honor a "approval letter" from the hard money letter? 

I did not have to bring an "approval letter" - just gave them the lender's contact information and the two parties worked everything out

- Do most Hard Money Lenders REQUIRE a full inspection, with access to interior of the house, before lending money?

My hard money lender understood that auction properties might not be granted a full inspection, so they did a paper appraisal

... Basically, I'm trying to figure out if it's possible/makes sense to purchase a property on Hubzu using hard money.

It definitely is possible - the numbers will dictate if it "makes sense" :)

Hope this helps.

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