Hubzu question

[Kay Winters]

There is a house in the neighborhood in which I live....actually, a few houses from my home.  It has gone into foreclosure.  Normally in my area (near Charlotte, NC) the Hubzu auction properties are also listed with a local agent.  This is not the case with this property.  It is only showing on the Hubzu site. 

This house was vacant for at least 3 years. In fact, our HOA foreclosed and then eventually the bank holding the loan intervened. This is the odd part: The first listing on Hubzu showed it with the OCCUPIED status - you know the one: Don't bother people in the house; no showings; must buy without seeing interior. AND, as soon as it was listed on Hubzu - 2 cars were in the driveway. I thought at first neighbors were parking there but last night saw they have lights on in the house.

It almost feels like Hubzu put the people there.  I'm lost on what the advantage would be for them to do this.  I've had some good; some bad dealings with Hubzu but normally you can see the reasoning behind what they do. 

Curious if anyone has any insight on this.  The Hubzu auction is not producing a bid on the property.  I would like to bid on it but am being cautious about the status situation and the lack of seeing the interior.  (They also have the sq. footage 250 sq. feet bigger than other info - would like to confirm)...Thanks!

[Michael Bowman]

Hi Kay, 

As a local real estate agent/investor/and property manager, I have had a lot of experience with HUBZU. Though I have questioned some of their bidding practices from time to time, I think it is safe to say this home was occupied without the consent of HUBZU. They have thousands of homes all across America, and 1. do not have the time to do such a thing and 2. it is not in their best interests to sell an occupied home. Occupied homes such as this go for thousands less than the same vacant home. 

If you need any further insight or help bidding, please let me know :)