Hubzu deal fell through - Grrr!!!

[Sarah Brown]

I'd like to vent about Hubzu. I'll keep this short and sweet. Recently I was the top bidder and the reserve was met. I received my email stating that I should receive their contract within a week. I did a happy dance. My agent kept in contact with the sellers agent who said, "It's coming. It's coming." Then 2 weeks after I won the auction I received a new email that said, "Another bid has been accepted. We will keep your bid as a backup." How shady! At first the sellers agent was surprised and then she stopped responding to my agent. How frustrating. Lesson learned about dealing with Hubzu.

[Joel Owens]

You have to find properties where there are not a lot of eyeballs on them and catch a motivated owners at just the right time and act fast.

Sometimes sellers do that where they (sit) on a good offer and make up BS excuses as to why it is taking so long. I know after 15 years in real estate when something is happening. They are hoping they get an excellent offer but do not want to lose yours. That is when a buyer can put a time limit on an offer where the offer goes away by  a certain time. You don't want an owner taking away time and energy from other owners who would have committed to you as a buyer.

It's a  cat and mouse game and sometimes you win and sometimes you lose but there are more properties in the future on the market and off the market to consider.