• I had a client buy a property through Hubzu, we listed, went to close and there were over $200,000 of federal tax liens that were not released.  Has been in over a year, but should be getting clear title soon.  I would suggest your buyers get a local title company for title!!

  • I agree with George, most of Hubzu/Ocwen properties have title or occupancy issues. This is definitely a Buyer Beware situation.

  • I had one where they strung us along for many months while they tried to re-foreclose and then terminated us, saying it was taking too long. Recently they relisted it at 3x the price in spite of a couple of years of further deterioration. Perhaps they just want to play around with it and generate web traffic since they can't sell it? I have seen others close, though, with the usual delays.

  • I typically have a couple of Altisource/Ocwen listings at any given time. The properties don't often have title issues that need addressed. They close on time if the Buyers closing company is on top of things.

  • In 12 years I have never had one actually close on "Time" ever with Altisource/Ocwen.  The reason they service these reo's for other banks(BOA, Deutsche etc..) is because they have title issues.  I always tell the buyers to expect 90+ days before closing.  

  • We closed on a property in 2014 thru HUBZU with a cloud on Title that we were unaware of as the Sellers Title Company showed it clear. Not. The property has been in litigation

    for over 2 years now. The case is now at the California Supreme Court now waiting to be heard. Their

    Title company dropped the ball. The Sellers Title company is paying legal fees to represent my clients the buyers in lawsuit. Meanwhile my buyers are counter suing the the Sellers Title Company. Yeah its a mess. 

    • I'd ask my buyer do pay for his owb title search during the inspection period, if any.
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