- Report: #1302170
Complaint Review: HUBZU.com - Internet
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Author Confirmed
Why?
HUBZU.com
Internet, USA
Web:
www.hubzu.com
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HUBZU.com SCAM ALERT! Internet
We bid on a house at 819 Azelia, Alamogordo, NM back in Feb of this year. We won the bid and met the reserve. Hubzu called us right away and wanted the earnest money of $23,000 within 48 hours. I read through the fine print of the terms of agreement of the contract and there was a clause that stated "no inspection" clause. We could not reach anyone at any of the contact numbers to tell us if that meant we could not have an inspection done of the house and even though we left messages, nobody called us back. I got a hold of the realtor who bid for us at auction and had to ask over and over to answer my direct question of "do we get our earnest money back if there are major problems found on the inspection". He finally answered and stated an inspection is not allowed at all and that we would lose our earnest money if we did not follow through with buying the house. When I told him that he told me that we could get our earnest money back under such circumstances prior to bidding, he stated "I mistakenly told you the wrong information". We have watched since and this same house has been "under contract" many times and then will go back to auction. I have a hunch that this auction house is only out to take one person's earnest money after another, knowing the house will not pass an inspection for a loan. With earnest money of $23,000 every couple months, they never have to sell the house and can continue to scam people. This auction company has changed its name several times. It is a scam in my opinion and should be considered a white collar crime on the magnitude of the stories that get exposed such as "American Greed". BE WARNED. Read the fine print. Don't give earnest money if the contract states "no" to the category of "Inspection Clause".
