Hubzu Auctions in Michigan (MI)

Hubzu is a real online real estate auction marketplace and the properties listed on it exist, but buyers should go in with clear eyes. Many listings carry a reserve, so the highest bid does not necessarily win, and a lot can go through several bidding cycles without selling. Buyer's premiums apply. Read the specific terms on each property rather than assuming the headline bid is the price.

Because most carry an undisclosed reserve. If bidding ends below it the seller is not obliged to sell, and the property returns in a later cycle. This is legal and disclosed in the terms, but it surprises buyers who expect an auction close to be binding the way an unreserved sale is.

The buyer's premium, whether a reserve applies, the occupancy status, and the title position. Occupied properties are common in this inventory and eviction is the buyer's problem. Get a title search done before bidding rather than after winning.