hubzu titles?

Question

if i win the bid , what if there are liens on the title?

will i be responsible to pay them , even i buy title insurance?

thanks!

Jean Norton · Answer

I've bought from Hubzu several times.  They will give you clear title.

John Moore · Answer

@Marci StWe have acquired properties through them and we always use our own title company as it provides us with a better sense of security.  It has always been a longer than usual process with no way to speed up the procedure.  Everything has always worked out without any glitches.

Jared Greene · Answer

I recently purchased a property through HUBZU, they did provide Title Insurance, however they did/do not provide a City, County Lien search (open permits, fines, etc).

Christine L. · Answer

I've seen posts that advises using your own title company.  Are any of you also using an attorney, plus your own title company, or are you using only your title company's attorney?

CK Hwang · Answer

Drew, I've previously bought a few properties from Hubzu before and from dealing with them, what I can tell is that Hubzu is a portal for the brokerage to list their properties as auction sales. Behind this portal is pretty much a standard real estate brokerage that has found its niche in selling REO properties. But either buying at a courthouse step or buying conventionally, wouldn't you want to do due diligence? Even a conventional sale could have a IRS lien or a chain of title broken.

Once you've purchased something through Hubzu, you'll go through a normal conventional buying process of using a standard purchase agreement (here in my market anyway), escrow company, title company, title insurance etc etc. You will still have a contingency period (although very limited), and one can't back out on the contingency based on the condition of the property. For my market, I've never seen them conduct foreclosure auctions i.e. like auction.com does.

But if worried why not just call them up and ask? customer service (855) 882-1314

Drew Wiard · Answer

@Jean Norton  - How can we be certain that they will give us clear title?  Perhaps I'm missing it, but their site does not state this, and many people here on BP suggest that said house needs full due diligence (especially in regard to title search), just as you would if you were buying at the courthouse steps.  Thoughts?  Thx!

Jennifer G. · Answer

the "as is" refers to the condition of the property.

Marci Stein · Answer

thanks, Jean...why does it say on the listing "as is ,no warentees". ?

does that refer to the house itself and not the title?

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