GENERAL TERMS AND CONDITIONSTable of Contents: · Art. 1. Definitions
· Art. 2. Applicability
· Art. 3. Publication and conduct of auctions and listings
· Art. 4. How to participate and submit bids
· Art. 5. Irrevocable purchase offer
· Art. 6. Principal's obligations
· Art. 7. Buyer’s Premium
· Art. 8. Costs
· Art. 9. Security Deposit
· Art. 10. Payments
· Art. 11. Transfer of ownership
· Art. 12. Warranties
Art. 1 Definitions: GOBID INTERNATIONAL AUCTION GROUP S.r.l.: Owner and operator of the online auction website http://www.gobidreal.it, with registered office in Milan, Via P.O. Vigliani, 19, VAT No. and Tax Code 09441470961, authorised to conduct auctions under Licence No. 13/2008 issued by the Milan Police Commissioner on 9/04/2008.
gobidreal.it: Registered trademark owned by GOBID INTERNATIONAL AUCTION GROUP S.r.l.
www.gobidreal.it: The website operated by GOBID INTERNATIONAL AUCTION GROUP S.r.l. for the sale of real estate on behalf of the Principal.
Principal: Person responsible for the proceedings
Agent:GOBID INTERNATIONAL AUCTION GROUP S.r.l.
Proceedings:insolvency proceedings declared by a court or a sales mandate granted by private parties
Auction: Competitive online sale of real estate published on
www.gobidreal.itListing: Publication of a notice concerning the sale or collection of offers/expressions of interest in real estate, published on
www.gobidreal.itLot: An asset or group of assets offered in an Auction or Listing
Registered User: A user registered on www.gobidreal.it
Auction Registration: Authorisation requested by a Registered User to participate in a specific
AuctionBidder Number: Registered User identifier
General Terms and Conditions: These terms and conditions
Specific Terms and Conditions: Specific terms and conditions of the Auction
Deposit: Amount to be paid to participate in the Auction.
Starting Price: Starting price of the individual lots
Reserve Price: Minimum price which, once reached, authorises the provisional award of the lot
Current Price: Current price of the Lot, resulting from the bid(s) placed by users
Static Bid: Amount entered by the user to increase the current price of the lot
Maximum Bid: (proxy bid) Maximum amount the user is willing to pay for the lot
Minimum Bid Increment: Predetermined amount added to the current price, required to place a static bid.
Extra time : Extension of the time available for placing bids in the auction (see Extra time section)
Provisional Award: Notice sent to the highest bidder by GOBID INTERNATIONAL AUCTION GROUP S.r.l.
Award Price: Amount of the award for the lot, excluding any Buyer’s Premium due and any additional tax or other costs
Buyer's Premium: Fee due to the agent, calculated on the taxable amount of the award price
2. Applicability: These terms and conditions apply to the use of the website www.gobidreal.it and, in particular, to the publication and conduct of auctions and listings, as well as to the terms and conditions governing user participation.
2.1. Specific Terms and Conditions Where applicable, Specific Terms and Conditions will be published for each auction or listing, setting out all specific information relating to the auction or listing itself and its lots.
These terms and conditions apply unless otherwise specified in the Specific Terms and Conditions for each individual auction or listing
3. Publication and conduct of auctions and listings Auctions and listings will be published on the website www.gobidreal.it, indicating their dates and the lots available and, where applicable, the general and specific terms and conditions.
GOBID INTERNATIONAL AUCTION GROUP S.r.l., in agreement with the Principal, reserves the right to cancel, extend or suspend the auction or listings.
4. How to Participate and Submit Bids.4.1 Listing User participation in the listing procedure will be governed by the specific terms and conditions, where applicable.
4.2 Online Auction4.2.1 Registration processTo participate in the sale, the user must register on the website
www.gobidreal.it, enter their personal details, request registration for the auction and accept its terms and conditions.
The details entered by the person when registering on the website and for the auctions will be those to which the award may be made and in whose name the property will be registered. All payments required, both before and after the sale, must be made by the registered persons. Any powers of attorney or authorisations may be considered subject to the Principal's approval.
The user must pay the required security deposit by bank transfer to the account specified in the specific terms and conditions of sale and on the registration page.
Where indicated in the specific terms and conditions of sale, the deposit may be paid online by credit card.
The user must specify the auction number they intend to participate in and simultaneously send a copy of the bank transfer receipt to
[email protected] The security deposit must be credited before the auction closes, unless otherwise indicated in the specific terms and conditions of sale.
In addition to paying the security deposit, to be authorised to participate in the auction the user must provide the following documents by uploading them in the "My Documents" section or sending them to
[email protected] - IF AN INDIVIDUAL:
- Copy of a valid identity document of the person in whose name the property will be registered (the property cannot be registered in the name of a person other than the person who signs the registration, according to the procedure described in section 5.1)
- Copy of the tax code
- If the bidder is married under the statutory community property regime, the corresponding details of their spouse must also be provided, together with a copy of their identity document (this document is not required for authorisation but will be required in the event of an award)
- IF A COMPANY OR ORGANISATION:
- Up-to-date company registry extract or certificate from the Chamber of Commerce, Industry, Crafts and Agriculture
- Copy of a valid identity document of the person who signed the bid on behalf of the company and, if that person is not the legal representative, a copy of the document evidencing their relevant powers
- Copy of the tax code of the person who signed the bid
- Any duly legalised translation of the company registry certificate, if the company is not Italian
- Special power of attorney received or authenticated by the notary, in the event of participation through a representative
Where provided for by specific terms and conditions, additional documents will be required, to be added to those mentioned above.
5. Irrevocable offer to purchase 5.1 Procedure for completing bids at the starting price
The combined effect of payment of the security deposit, formal registration for the auction – with express acceptance of the general and specific terms and conditions of sale published online at www.gobidreal.it – and the user's submission of all the required supporting documentation, as specified above in section 4.2.1, shall be deemed equivalent to an irrevocable offer to purchase at the price set as the starting price for each sale attempt and shall itself constitute a binding purchase commitment on the part of the user.
This offer will be formalized on the platform directly by the Agent by placing an online bid on behalf of the first user to complete the procedure described above.
If there are several participants who have formalized their irrevocable offer to purchase in the manner described above, and none of the bidders places a higher bid on the Platform, the highest bidder and, therefore, the provisional successful bidder shall be the person who, first in chronological order:
- has completed the above-mentioned procedure.
The Agent shall inform all bidders by any means whether or not they are the highest bidders when the above-mentioned irrevocable offer to purchase is formalized.
5.2 Submission of bids to increase the starting price. Placing higher bids The bid formalized by the first bidder may be surpassed by higher bids placed by any authorized user.
To be recognized as the highest bidder (and therefore the provisional successful bidder), a user must have placed the highest bid at the end of the online auction.
Clearly, if several participants place higher bids on the starting-price bid, the user recognized as the "first bidder" may also compete to win the lots by placing higher bids on the current price.
To win the lot(s) for sale, users will be invited to increase the price indicated in the auction (and therefore to place at least one higher bid) as follows:
5.2.1 Static bid A "static bid" means a bid at the price published online, plus a predetermined minimum increment.
5.2.2 Maximum bid (Proxy Bid):
A "proxy bid" means a bid up to a maximum amount. This is the maximum amount the user is willing to offer for each lot. Each bidder enters the proxy bid amount manually.
Until the user's maximum bid is surpassed by a higher bid, that user will remain the highest bidder and, therefore, the provisional successful bidder.
The current price will automatically adjust according to the predetermined bid increments, up to the amount set as the "maximum bid".
The amount of a user's maximum bid (proxy bid) will not be visible to other users.
5.3. Validity of bids In all cases (static bid – maximum bid – free bid), bids will be considered valid only if submitted during the auction period.
5.3.1 Extra time If a winning bid is placed in the 5 minutes before the auction closes, the time available to place another bid will be extended by a further 5 minutes from the last bid received. This will continue in the same way for every winning bid received within the 5-minute extra-time period, until the available time expires.
In the event of extra time, 5 minutes must pass without any additional bid being recorded after the last bid received before the auction can be considered definitively closed.
Automatic bid increments in the event of a maximum bid (proxy bid) will also be considered winning bids.
5.4. Awarding of lots At the end of each auction, following a review phase, the highest bidders will be sent confirmation of provisional award pursuant to Article 107 of the Bankruptcy Law, and will be required to make payment by the deadline specified in the specific terms and conditions of sale.
The provisional award will be made to the bidder who submitted the highest bid for each lot or, if no further higher bids are placed, to the bidder recognized as the first, in chronological order, to have completed the procedure for submitting an irrevocable offer to purchase described in section 5.1.
In the event of an award, the full purchase price must be paid by bank transfer to the account in the name of the proceedings, within the deadlines specified in the specific terms and conditions, on pain of forfeiture and definitive loss of the security deposit.
The deed of sale will be executed by notarial deed in accordance with the procedures established by the Principal (described in section 11, Transfer of ownership)
Submitted bids are binding and constitute a formal purchase commitment. If the successful bidder fails to pay the amount due within the deadlines specified in the specific terms and conditions of sale, or if the award is revoked, the sale shall be automatically rescinded and the security deposit shall be retained in accordance with the procedures set out in the "Security Deposit" section. In that case, the award will be made successively to the next highest bidder who has completed the procedure described in section 5.1 or placed a higher bid, as set out in section 5.2.
5.5 Other provisions Where permitted by law, the Principal, in its capacity as the party responsible for the sale procedure, may exercise the option provided for in Article 107, fourth paragraph, of the Bankruptcy Law and suspend the sale if it receives an improved irrevocable offer to purchase for an amount no less than ten percent of the price offered
In any event, GOBID INTERNATIONAL AUCTION GROUP S.r.l. reserves the right to suspend the auction or the award of the lots in agreement with the Principal.
6. Obligations of the PrincipalPursuant to Article 107 of the Bankruptcy Law, the Principal undertakes to notify each mortgage creditor or creditor otherwise holding a preferential claim at least 20 days before the date set for the conclusion of each sale attempt, and to inform the Delegated Judge and the Creditors' Committee of the outcome of each sale attempt, filing the relevant documentation with the Court Registry.
The Principal declares that any registrations relating to rights of first refusal, registrations of attachments and precautionary seizures, and any other encumbrances affecting the real estate offered for sale, will be cancelled pursuant to Article 108 of the Bankruptcy Law once the sale has been completed and the price has been paid in full. Unless otherwise provided in the specific terms and conditions of sale, all formalities for cancellation will be carried out at the successful bidder's expense.
7. Buyer’s Premium
The fee payable to the Agent shall be borne exclusively by the buyer and is referred to as the Buyer’s Premium. It will be calculated on the property's award amount, in accordance with the procedures specified in the specific terms and conditions of sale.
8. Costs The following shall be borne by the buyer: notarial fees, statutory taxes, and all expenses relating to the sale, whether tax-related or otherwise. The Principal must provide details of the exact amount of the costs and their proper breakdown as soon as possible.
In this regard, the Principal must take into account tax treatment of the transaction and any tax benefits the buyer intends to claim. The Principal will therefore be required to verify whether the transaction is subject to VAT or registration tax and, where the relevant conditions are met, to specify whether it intends to apply the reverse charge mechanism.
At the end of the sale, the Agent will also ask the successful bidder whether they intend to claim the first-home benefit or another tax benefit and will inform the Principal accordingly, so that the Principal can calculate the exact amount of taxes the buyer will be required to pay.
The successful bidder must pay the expenses no later than the deadlines indicated in the specific terms of sale.
9. Security Deposit Participation in the auction is conditional upon payment of a mandatory security deposit specified in the specific terms of sale.
Before being authorized to participate in the auction, participants must pay the amount specified above by bank transfer or, where provided for in the specific terms, by credit card through the platform. Payments must be made as set out in the specific terms of sale.
The security deposit must in all cases be credited before the auction closes.
For payment by bank transfer, it is recommended to make a BIR transfer (high-value bank transfer).
If participants in the auction do not win any items, the security deposit will be refunded within 20 working days of the auction closing, without interest.
If one or more lots are won, the security deposit will be refunded after the buyer has completed the transfer of ownership of the real estate purchased at auction by means of a notarial deed, subject to authorization from the Principal. In such cases, at the Principal's discretion, the security deposit may be retained to cover any costs attributable to the Proceedings or to cover any other services provided by the Agent.
If the security deposit is paid by credit card, it will be charged to the Agent's bank account, and the Agent will refund the amount retained in this way in accordance with the procedures described above.
If the buyer wins at least one lot at auction, the Agent may, in agreement with the Principal, deduct the security deposit from the total amount due from the buyer.
If, after paying the security deposit, the bidder does not complete the purchase within the deadlines set out in the specific terms of sale, including payment of both the winning bid price and the Buyer's Premium, as well as any additional charges, the sale will be automatically terminated and the security deposit will be retained as compensation by way of a penalty.
10. Payments The provisional successful bidder for one or more lots must comply with the specific terms of the auction, which specify the deadlines for payment of both the lots won and the Buyer's Premium due, as well as any additional charges, and the related compensation clauses in the event of failure to comply with those terms.
All payments must be made in full exclusively by bank transfer, unless otherwise specified in the specific terms. The bank details will be provided when the user receives confirmation of the provisional winning bid.
If the amounts due are not paid in full within the established deadlines, the sale will, in agreement with the Principal, be automatically terminated, and the security deposit will be retained as compensation by way of a penalty, with the successful bidder consequently forfeiting the award.
11 . Transfer of Ownership Ownership will be transferred only after full payment of the winning bid price and expenses, as provided for in the specific terms of sale, by means of a notarial deed in accordance with the procedures established by the Principal, unless otherwise specified in the specific terms of sale.
In judicial sales, the Principal will also notify the Delegated Judge so that the Judge may arrange for the cancellation of any prejudicial registrations on the properties being transferred pursuant to Art. 108 of the Bankruptcy Law, as indicated in Art. 6.
After the payment deadlines set out in the specific terms of sale have expired, if the transfer of ownership is not completed, the sale will be automatically terminated and the amount paid by the successful bidder as the Buyer's Premium will be retained by the Agent as compensation by way of a penalty. The amount paid by the successful bidder as a security deposit will instead be retained in accordance with the rules set out in the Security Deposit section.
12. Warranties GOBID INTERNATIONAL AUCTION GROUP S.r.l. is not responsible for any discrepancy or partial discrepancy between the descriptions of the lots offered at auction or in advertisements published on the platform and the actual lots.
For all matters not covered by these general terms or the specific terms, the provisions contained in the Terms of Use of the website
www.gobidreal.it shall apply.
The registered user acknowledges the possible objective and subjective issues arising from the use of an online auction or online advertisement conducted via the internet, for which GOBID INTERNATIONAL AUCTION GROUP S.r.l. cannot be held liable.
GOBID INTERNATIONAL AUCTION GROUP S.r.l. shall not be liable for direct and/or indirect damage or liability, except in cases of willful misconduct or gross negligence on its part. Under no circumstances shall GOBID INTERNATIONAL AUCTION GROUP S.r.l. be liable for: actions directly taken by the user that may damage or cause the system to malfunction; inability to view and/or use www.gobidreal.it; unlawful use of www.gobidreal.it; or any event occurring after the auction has ended.
For all matters not expressly covered by these general and specific terms, reference is made to the provisions of the Code of Civil Procedure and the Bankruptcy Law.
The sale of real estate is a compulsory sale (Art. 2919 of the Italian Civil Code). The properties are sold as seen and accepted, in their actual and legal condition as they stand. In a compulsory sale, no warranty is provided for defects in the property. The sale may not be challenged on grounds of damage (Art. 2922 of the Italian Civil Code).
The Agent shall have no liability whatsoever with regard to the existence of third-party rights over the assets being sold (Art. 2920 of the Italian Civil Code).
The real estate is sold in its actual and legal condition as it stands, together with all appurtenances, additions, rights and claims, and active and passive easements. The sale is of the property as a whole and not by measurement, and is made without any warranty for defects or other deficiencies.
UNAUTHORIZED WORKS, VIOLATIONS, ENCUMBRANCES, COMPLIANCE WITH CURRENT REGULATIONS
For further information regarding any unauthorized works, violations, encumbrances or non-compliance with current regulations affecting the lots for sale, please refer to the attached appraisal.
The lots are sold as seen and accepted, in their current condition.
Viewing the lots offered at auction is strongly recommended. GOBID INTERNATIONAL AUCTION GROUP S.r.l. and the Principal disclaim all liability for any errors, omissions or inaccuracies in the photographs, descriptions or any other details provided for the auction or in the advertisements. For this reason, viewing the lots is strongly recommended in order to verify the actual condition of the assets offered at auction. No warranty is given by GOBID INTERNATIONAL AUCTION GROUP S.r.l. or the Principal.
By accepting these terms, the buyer releases GOBID INTERNATIONAL AUCTION GROUP S.r.l. and the Principal from all warranties and third-party claims.
In the event of any dispute concerning the interpretation of the provisions contained in the general and specific terms published on the platform, which may have been translated into other languages, the Italian version of the text shall prevail.
Unless otherwise specified, the times stated in the specific terms and on the platform refer to the time zone indicated by the server time published on the website