With thousands of properties available, it’s easy to find an opportunity that is right for you on Hubzu.com. In this video, we’ll discuss the importance of doing your due diligence once you’ve identified a property you want to bid on. We encourage you to do your due diligence before placing your first bid on a property.
Start by reading through all the information available on the property detail page, including key features like number of bedrooms and bathrooms, lot size, and the property description. Keep in mind that many properties on Hubzu are Cash Only, however, some sellers will consider financing options. Make sure you identify this very important distinction. This information will help you provide the appropriate proof of funds needed if you decide to bid on the property.
Nearby schools and their rankings, property tax information, and the previous sale history can also help you with your review process. If you’re interested in a property as a possible rental. Check out the RentRange information which tells you what you might be able to rent the property for. Always review the Disclaimers & Additional Information section pertinent to the auction. This should not be overlooked. Everyone should carefully read this section as part of their due diligence!
As part of your due diligence, it’s always a good idea to research public records, including conducting a title search. You may also want to consult with an attorney. If the property is vacant, you should consider touring the property prior to placing a bid. Some properties may even have a self-showing lockbox allowing you to tour the property at a time that is convenient for you. However, if the property is occupied, you will not be able to tour the property. Please do not disturb the occupants as this may be considered trespassing.
Once you’ve completed your due diligence and you’re ready to bid, simply select the amount that you’d like to bid and click “Place Bid.” Remember to keep your eye on the countdown clock next to a particular property. This shows how much time is left before the auction ends. Don’t wait too long to place a bid for a property you like!
If you have any questions or concerns, you can visit our Support page for reach out to our Customer Care team. Ready to start bidding? Head over to Hubzu.com and get in on the auction!
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