Hubzu presents as a legit real estate auction site but is actually a rigged sellers only site. When you bid you will be actually bid up mysteriously at the last minute and if you selected auto bid in your bid profile for the property you will be bid up to that amount and more until auction expires. As the highest bidder then you are contacted with a counteroffer higher than your bid and with a short amount of time to respond. When you reject the higher counter offer your previous highest bid then is set as the minimum for a brand new auction.
What is likely the case here is that there was no real alternate bidder against you. The competing bidder, with all your HUBZU profile and autobid info! Is the website administrator and their offshore workforce. All the cards are stacked in their favor and you are mislead to believe you have an honest auction underway but you do not. If the site was clear that it is solely for the purpose of the seller's agent securing the highest price and if there were no phantom and privileged seller administrator, aka buyers agent involved then it would be legit. It is deceptive for sure.The inside bidders for sellers have the same user ID's on other properties in different cities and states. It is such a SCAM the bidding process with insider bidding for the seller at the last 10 minutes of the auction. Another tatic is the website goes down mysteriously the last day of bidding. Then they extend the auction 24-48 hours to allow more bids to come in. Such fraud.
Kent
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