(Nov. 29, 2019) Cyber Monday hits the real estate market? It’s true, even real estate websites are offering marketing deals this holiday season to encourage online shopping for homes.
Hubzu.com, one of the leading online marketplaces for real estate auctions, is offering discounted properties starting Nov. 25 through Dec. 2, advertising savings of up to 40 percent off reserve prices on some properties.
If you’ve never visited Hubzu, it is a website that provides one of the largest online home auction marketing platforms.
Hubzu allows institutions to market their inventory directly to buyers and investors. Its numbers show 212,000 properties sold, 1.7 million users and 4,000 properties listed at any given time.
It has been on the web since 2009.
Its website handles foreclosures and REO properties (Real Estate Owned, meaning owned by a lender), as well as CWCOT (Claims Without Conveyance of Title, where the lender does not convey the property to HUD in exchange for insurance benefits) and short sales.
The online platform gives mortgage servicers, financial institutions and other sellers a place to liquidate properties online.
You can search for homes by city, state, zip code, county or property ID. Currently, Hubzu has one active property listing in Worcester County and Wicomico County, and five active property listings in Sussex County, Delaware.
When searching for homes on an auction website, it’s a good idea to use your local real estate agent as your buyer’s agent.
Your agent needs to be the one to register you to place bids, but they will be able to explain all of the important disclosures that come along with purchasing an auction property, such as buyers premiums and As-Is sales.
— Lauren Bunting is an Associate Broker with Bunting Realty, Inc. in Berlin.