Hubzu

Hubzu is an online auction and listing marketplace for residential property, used by mortgage servicers, financial institutions and individual sellers to market homes and collect bids. Inventory spans bank-owned and foreclosure property, CWCOT and short sales, and conventional listings from sellers who choose the auction format.

Buyers register free, browse by state, city or ZIP code and bid online, with an auto-bid option. Individual properties can carry proof-of-funds, earnest money deposit and bid deposit requirements, and a technology fee applies on some purchases. Sellers run and monitor their own auctions through the platform, and the Signature Homes Program lets an individual owner list a property at auction. Some auctions are promoted with no buyer's premium or technology fee, and selected occupied properties carry cash credits at closing of $1,000 to $7,500.

Hubzu has been a business unit of Altisource since 2012. It says it keeps around 3,000 properties listed at any given time and reports more than $26 billion in real estate transactions through the platform. Hubzu is the marketing technology, not the owner: properties are listed by licensed brokers and sellers, and support runs on 855-882-1314 with a mobile app for browsing and bidding.

Terms, deposits and fees differ property by property, and the site quotes different registered-user totals on different pages. Read the individual listing terms and the purchase and sale agreement, and inspect the title position, before bidding.