What a waste time. I was bidding on my neighbors house, and it was shown by real estate agents parallel to the auctions. HUBZU don't even follow their own rules. They state "due diligence before bidding", which is normal on any auction. Guess what, a non-winning bidder did a home inspection AFTER the auction ended, and made a higher offer than the winning bid AFTER the auction was over. HUZBU decided to take that offer in lieu of the highest bidder. The auction rules state the winning bidder needs to close within 30 days. To make things worse, it has been 3 months now, since that guy signed a contract, apparently he is lacking the money to close the deal.
So here comes this dumb ass buyer, with no money and no experience, promising to pay $100.000 more than the house is worth AFTER THE AUCTION ENDS, and the auctioneer pushes out every serious cash buyer. What a waste of my time! I know for sure the house will eventually go back to the auction, because the bank will never finance 110% of the value. I cancelled my account. I won't be wasting my time again. I am sure others might, until they find out how HUZBU operates.
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