Hubzu - Paying in cash. How fast can I close? Tips?

3 Replies

Hello everyone, 

Before anyone mentions it I am aware of the tactics Hubzu can pull. However, there is a property that I do not want to let go. I am curious if anyone has experience with quick closings when paying in cash? If so how quick was your closing and which bank had the property?  I understand that we shouldn't use their title company. Thus, we intend on using our own title company to do the title search, etc. We don't want to wait for a 30 day closing. For us the quicker the close the better. We're in the state of Florida not sure if that matters but this will be the first time we use Hubzu. I hated that the bank chose them for this auction otherwise, we'd already have the property. 

Any tips anyone can give us regarding any part of the process, would be much appreciated. 

Thank you!

Patience....Hubzu pulls no tactics other than to meet the minimum of their seller.  I have no problem closing with their title company as long as I get title insurance.  Either way, the closing is going to take a few weeks and your title company may take longer 

You can't rush anything on Hubzu and if you want to win, you will need to use their title company. Other than fake bidders, I haven't had a problem with Hubzu. I've close a couple for clients on there, but as @Greg H. said, it's just about patience. Most buyers who walk away do so because they can't wait. It's not like a regular seller who can decide, there are several layers for everything to go through to close and trying to tell them you will close earlier will fall on deaf ears.

@Greg H. and @Jonathan Greene Thank you both so much! I certainly feel better hearing this. I've read so much about Hubzu on Bigger Pockets but most of the posts are 5+ years old. I figured that they may of been having some growing pains. I am fine with using their title company, if that's the best way to do it. I don't want to mess this deal up. The owner is US Bank. I haven't bought anything from them before but haven't seen anything negative from those buying US Bank properties. 

Of course, as humans we all want things immediately but the market is slim pickings right now. Therefore, if I have to wait it will be worth it. 

Thanks again, I truly appreciate your responses. Wish me luck! 😉🍀