Complaint Review: HUBZU - Atlanta Georgia

 Good Evening, I've been working hard to find someone who may be able to help me in my situation with Hubzu. I ran across your notice on RipOff Report and the purpose of this complaint is to notify Ripoffreport.com of my experience with Hubzu and Hubzu’s unfair online auction’s that caters to seller’s (Banks). HUBZU in my situation has allowed the banks to do whatever they want on their site with me the buyer. I've been stuck with strict terms and conditions by this site such as, Premium Fees associated with the purchase price of the properties listed on Hubzu.com. The fees Hubzu, and seller are asking me to pay are outrageous and I've asked why am I paying thousands of dollars for Premium fees and what the fees are put towards regarding the house of interest, they say it’s for running the auction. I didn’t realize it cost $7,500.00 plus a technology fee of $299.00, in my situation to run an online site. My experience with this site has been awful not only for me but for my family too. I first learned of Hubzu by being forced to go to hubzu.com to place an offer. I saw the property for sale on a real estate website (weichert.com which doesn't state anything about an auction, or HUBZU), and wanted to see it.

When I went to the property to see it, I was very interested in placing an offer on property. I asked my realtor to place an offer on it. He advised me at that point, in order to place an offer, I would have to go to Hubzu.com to Bid on the house. There was no other way to place an offer on the home of interest. I knew nothing about online auctions, or any fees associated with them. So, I decided to go for it since there was no other way of submitting an offer on property. After the 3rd time of bidding on the property and being the highest bidder all three times, I finally met the reserve of the bank of $166,000.00 but it showed a total of 173,769.00, plus a technology fee of 299. Which I didn't understand why I was paying thousands of dollars more than what I place my bid for. Once I met the reserve and advised my realtor of the results, my realtor asked me if there were any fees associated with this purchase. At First, I told him no because I was not aware that I would have to pay any fees associated with the property, especially since the seller sought out Hubzu’s services and was forced to their site to place an offer. I went back to Hubzu and asked them if the seller can pay the fees associated with the property. The seller which is the Bank said no and placed the property back on Hubzu at a much higher reserve amount than what they accepted from me.

I continued to bid on the property at least 3 more times being the highest bidder up until last week when I was shocked to see what Hubzu and the seller had done. Hubzu restarted the auction on this property which would make it my 7th time total being the highest bidder on this property. I had decided to place another bid on the property. The Auction started July 6, 2017 and was supposed to be over July 13, 2017 at 6pm. I was the highest bidder at the time once again, until Hubzu and seller decided July 12th to stop the Auction 1 day and 22hrs earlier. Hubzu sent me a message stating that I requested to have my bid withdrawn, cleared out by bidding history on the site, and 7 minutes later they restarted the time to 6 days and put it back on Hubzu starting the bid 22K lesser than my bid amount offered prior to. I made a call to Hubzu and advised them that I never requested to have my bid withdrawn and they tried blaming me stating, for a bid to be withdrawn I must call in and request my bid be withdrawn. I informed the customer service rep that I was at work and there could not be any possible way I could have called in to withdraw my bid. I totally believe Hubzu, and the seller have made the changes to my Bid history in my account on Hubzu.com to show no evidence of any bidding ever taken place. Which I have pictures to show prior bidding on the property, and generated a letter stating, per my request my bid has been withdrawn.

Hubzu is an awful company for allowing banks to take total advantage of buyers and doesn't deserve to be in business. Hubzu should be held accountable for unfair actions done against buyers trying to purchase properties through there site. Hubzu is not an auction site. I was always under the impression that an Auction is based on the highest bidder winning what is being auctioned with no kickback from the seller auctioning product. This is my family’s livelihood there playing around with. Not only mine but others who is experiencing some type of illegal and unfair treatment from this horrible company. This company should be investigated, I’m sure if they were people would see all the illegal actions they’ve done against them. It is not fair for banks along with Hubzu to walk all over hard-working people who are trying to find a safe place for their families to live. I totally believe everything stated about this company, especially regarding bids, and fees, it’s happened to me. I'm so frustrated, I hope to hear one day this business receiving the biggest lawsuit in history.