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Back to FAQs
How do I make an offer on a property?
In order to make an offer on properties marketed on Hubzu, you must register at Hubzu.com. Once you're registered, go to the property details page to enter your offer amount and click Place Offer. All offers must be submitted through the Hubzu website. Sellers will not consider faxed or emailed bids.
4 simple steps to buy homes
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Explore thousands of affordable homes
Keep taps on trending short-sale, foreclosure, and fixer upper property auctions by saving them to your favorites list. When you're ready to tour a home, effortlessly schedule a showing with one of our referral agents - or conveniently use your own.
Place a bid without the hassle
Submit an offer online without changing out of your pajamas or have an agent submit a bid for you. Hubzu can help you monitor the listing by sending property auction updates to your inbox.
Sign on the dotted line
Once your bid is selected the seller's representative will send you the purchase and sale agreement and related documents completed with the terms of the purchase. You will also receive detailed instructions about sending your earnest money deposit.
Close the deal
See what the closing process entails right on the property details page. Provided the seller allows it, you can coordinate with your agent and the listing agent to obtain an inspection. After the closing, you will get that sweet new home key to add to your chain.
How do I register with Hubzu?
Click "Register" in the upper right-hand corner of the page. Fill out the form and submit your information to get registered.
How do Hubzu Auctions work?
How does navigation work on Hubzu.com?
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https://image-prod.hubzu.com/about-hubzu-videos/hubzu-pdp-image https://image-prod.hubzu.com/about-hubzu-videos/support_mobile_pdp
I am being asked to provide Proof of Funds. What is this?
The Proof of Funds process requires prospective buyers to provide evidence that they possess the funds required to complete the purchase transaction. It provides a seller with evidence of a prospective buyer's ability to consummate the transaction.
What are the earnest money deposit requirements?
Most bank owned homes: The minimum required earnest money deposit is based on a pre-determined percentage of your selected bid/offer amount. The required deposit ranges from 1% to 7% but is never less than $1,000 or more than $15,000 and will be applied to the purchase price at closing. To view the earnest money deposit percentage for a specific property, visit the property's details page. Note: If you are unable to comply with the terms and conditions of the executed Purchase and Sale Agreement (PSA), your earnest money deposit may not be refunded. Properties with Special Servicing Conditions Apply (Special Terms): The minimum required earnest money deposit is calculated by the seller and is outside the control or discretion of Hubzu. This minimum amount will be specified in the PSA and may be held in a licensed real estate agent's escrow account or with an escrow company or closing agent.
What is a PSA? Which details are required for this?
Most bank-owned homes: The email you receive after you are the selected bidder in an auction or your offer is approved will contain a link that will allow you to digitally sign the Purchase and Sale Agreement (PSA). You must review, sign and confirm this digital version within 48 hours of receiving the link. For more information, see our FAQ section on eSignatures. Note: For certain bank-owned properties, you may receive an email with the PSA as an attachment instead of an eSignature link. In this case, you must review, sign and send back the PSA via Hubzu within 48 hours of receiving the email. A link to the upload page is included in the email. Short sales/properties with Special Conditions Apply (Special Terms), including some bank-owned homes: You'll receive notification of the next steps in the contract process
What is Auto Bid?
Bidders interested in a specific property can use the Auto Bid feature to remain competitive without constantly watching the auction. Bidders stipulate a monetary amount to increase their bid whenever a new, higher bid is posted by another bidder. The bidder also stipulates a ceiling amount they don't want to bid above during the auction.
How long is the bid deposit hold?
The bid deposit hold will remain in place for the duration of the auction cycle. Once the auction cycle ends, one bidder may be chosen by the seller as the "selected bidder" to proceed to contract. If you are the selected bidder, the bid deposit will be released once we receive your signed purchase and sale agreement (or PSA) and we receive confirmation from the third-party escrow agent that your earnest money deposit (or EMD) was received within the required time frame. Please allow 4-7 business days for the hold to be removed after the PSA and EMD are received. If you are not the selected bidder, the hold will be removed within 4-7 business days after the auction cycle has ended.