I bid some property on Hubzu behalf of my client. It is pretty simple but lot of people don't understand how does it work? They keep bidding and messed up. End of the day they never got approved finance or not capable to complete the transaction. Hubzu clearly mention on website that cash or conventional loan accepted. There is a lot of fees beside your bid price including buyer premium, technology fees, inspection or city inspection fees etc. These fees don't count on bid. Lot of bidder think only bid price is final price no other charge like traditional sale. Most of property has buyer premium 5% on bid amount. You must send deposit once you become selected bidder. You can't do any work or change on property if appraisal required to get mortgage. FHA loan always needs to do something including electrical or plumbing related work.