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I learned the hard way about Hubzu. I bid, met the reserve, then won against competition. The customer service posted number directed me to an answering machine that did not return my call. Hubzu, next sent an email that said it was allowing others to make final offers. Finally, the property came back up on a new 6 day auction. Who wants to deal with that garbage?
Jason E.'s review of Hubzu earned 31 Very Helpful votes
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Hi Jason,
Sorry that your experience during the auction did not meet your expectations. Many bidders may have experience with traditional auction formats, a Hubzu bidder may think they have won the right to purchase the property because they have the highest bid. This is not always the case. Reserve price is one factor that may prevent the highest bidder from winning the property. A reserve price is the minimum the seller is willing to accept for the property in an auction. If an auction ends without the reserve price being met, and no selected bidder is declared a winner, then the seller reserves the right to accept a lower bid, negotiate with a bidder, or propose new terms to the bidders. It is important to note, it is also the sellers right to simply relist the property for auction again. If there is anything else we can do to provide you with more information regarding auctions or assist you in future properties, please don’t hesitate to contact us at Hubzu Customer Care at 855-882-1314. We thank you for the opportunity to respond to your concerns and hope to meet your expectations in the future.
Thanks,
Altisource Customer Advocacy Team