Hubzu offer (not auction with a premium) - how would you go about it?

[Greg P.]

I would like to devise a "strategy" of sorts to get a low offer/bid accepted with hubzu on a property listed at 56k

It has been on the market for 150+ days, started around 85k, bank bought it back at the auction for 132k. There have been a large number of small price reductions over this time in listing/asking price. The "minimum offer" is around 39k.

This property has a MAJOR issue with the property lines , where an outbuilding (good shape large metal shop on pad) and the house (marginal fixer/tear down) are encroaching onto another property according to the map. However the neighborhood has a history of legal battles over this, and some neighbors have won "adverse possession" cases in court due to existing fencing clearly defining what they believed the property lines were for years.

These are larger 2-5 acre parcels. This all happened because the old 1940's short plat started from one side of the "block"...and the guy who owned the far corner parcel (the other side of the block) subdivided his "20 acre parcel" and in order to account for the full 20 acres, they had to start measurements from the other side of the block. The parcel in question is several over but was affected.

I have watched this for awhile as offers come in with hubzu, it goes to pending, and then the buyer backs out...as they realize the extent of the issues. This has happened upwards of 10 times.

Please no recommendations to run far away due to issues, I have done my homework and have a use for the property. I would like to submit an offer (35-39k) that somehow indicates to the bank/real home securities and solutions/hubzu that I am aware of these huge defects already and offering cash with no conditions.

Their online offer process really does not have any possible way for me to get this very relevant info to the asset manager.

Any advice?

Thank you!