GENERAL TERMS AND CONDITIONSTable of Contents: · Art. 1. Definitions
· Art. 2. Applicability
· Art. 3. Publication and conduct of auctions and listings
· Art. 4. Methods of participation and submission of bids
· Art. 5. Irrevocable purchase offer
· Art. 6. Obligations of the Principal
· Art. 7. Buyer's Premium
· Art. 8. Charges
· 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 manager of the online auction site http://www.gobidreal.it, with registered office in Milan, Via P.O. Vigliani, 19, VAT No. - Tax Code 09441470961, authorized for auction sale with License issued by the Milan Police Commissioner no. 13/2008 dated 9/04/2008.
gobidreal.it: Registered trademark owned by GOBID INTERNATIONAL AUCTION GROUP S.r.l.
www.gobidreal.it: The website managed by GOBID INTERNATIONAL AUCTION GROUP S.r.l. for the sale of real estate on assignment conferred by the Principal.
Principal: Responsible for the Procedure
Agent: GOBID INTERNATIONAL AUCTION GROUP S.r.l.
Procedure: insolvency procedure declared by the Court or sale assignment conferred 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 on real estate published on
www.gobidreal.itLot: Asset or set of assets present, subject to Auction or Listing
Registered User: User registered on www.gobidreal.it
Auction registration: Authorization requested by the registered user to participate in the individual
AuctionBidder Number: Identifier of the Registered User
General Conditions: these terms and conditions
Specific Conditions: Specific terms and conditions of the Auction
Deposit: Amount to be paid for participation in the Auction.
Base Price: Starting price of individual lots
Reserve price: Minimum price the reaching of which authorizes the provisional award of the lot
Current price: Current price of the Lot, resulting from the bid(s) made 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 intends to pay for the lot
Minimum Increment: Predefined amount added to the current price required to formalize the static bid.
Extra-time : Extension of the time available to place bids in the auction (see Extra-time section)
Provisional award: Communication addressed to the highest bidder by GOBID INTERNATIONAL AUCTION GROUP S.r.l.
Award price: Award amount of the lot, net of any Buyer's Premium due and any additional fiscal and non-fiscal charges
Buyer's Premium: Fee due to the agent calculated on the taxable amount of the award price
2. Applicability: These conditions apply to the use of the site www.gobidreal.it and, in particular, to the publication and conduct of auctions and listings, as well as the terms and conditions of user participation.
2.1. Specific Conditions For each auction or listing, where provided, the Specific Conditions will be published, indicating all specific information relating to the auction or listing itself and the lots
These conditions apply unless otherwise indicated by the Specific Conditions of each individual auction or listing
3. Publication and conduct of auctions and listings Auctions and listings will be published on the site www.gobidreal.it with indication of the dates of conduct and the lots present and, where provided, 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 interrupt the auction or listings.
4. Methods of Participation and Submission of Bids.4.1 Listing User participation in the listing mode will be governed by the specific conditions, where present.
4.2 Online Auction4.2.1 Registration processTo participate in the sale, the user must register on the site
www.gobidreal.it, entering their personal data, request auction registration, accepting its terms and conditions.
The data entered by the subject during registration on the site and for auctions will be the same to which the award may be attributed and to which the property will be registered. All payments required, before and after the sale, must be made by the registered parties. Any powers of attorney or delegations may be considered subject to authorization by the Principal.
The user must pay the required security deposit by bank transfer to the account specified in the specific sale conditions and on the registration page.
Where indicated in the specific sale conditions, payment of the deposit may be made online by credit card.
The user is required to specify the auction number for which they intend to participate and send at the same time an accounting copy of the transfer made to the address
[email protected] The deposit must be credited strictly before the end of the auction, unless otherwise indicated in the specific sale conditions.
In addition to crediting the security deposit, the user, to be enabled to participate in the auction, must provide the following documents by upload in the section "My Documents" or by sending to the address
[email protected] - IF A NATURAL PERSON:
- Copy of a valid identity document of the subject to whom the property will be registered (it will not be possible to register the property to a subject other than the one signing the registration, according to the procedure described in point 5.1)
- Copy of the tax code
- If the bidder is married under a legal community of property regime, the corresponding spouse data must also be indicated, with sending of the relevant copy of the identity document (document not binding for enabling but required in case of award)
- IF A COMPANY or ENTITY:
- Updated chamber of commerce report or C.C.I.A.A. certificate
- Copy of a valid identity document of the subject who signed the bid on behalf of the company and, if different from the legal representative, copy of the act showing the relevant powers
- Copy of the tax code of the subject who signed the bid
- Any duly legalized translation of the chamber of commerce certificate, if the company is not Italian
- Special power of attorney received or authenticated by notary, in the event of participation through a representative
Where required by specific conditions, additional documents will be requested, which will supplement the aforementioned ones.
5. Irrevocable purchase offer 5.1 Procedure for finalizing offers at the auction starting price
The combined effect of the crediting of the security deposit, the formalization of registration for the auction – with express acceptance of the general and specific conditions of sale, published online at www.gobidreal.it – and the sending by the user of all the supporting documentation required, as specified above in section 4.2.1, will be considered equivalent to an irrevocable purchase offer at the price set as the auction starting price for each sale attempt and will constitute, in itself, a binding purchase commitment by the user.
This offer will be formalized on the platform directly by the Mandatary by means of an online bid, on behalf of the first user who has completed the finalization procedure described above.
Where there are several participants who have formalized their irrevocable purchase offer, in the manner described above, and none of the bidders places a higher bid on the Platform, the best bidder and therefore provisional purchaser will be the one who, first in time order:
- has completed the aforementioned procedure.
The Mandatary will take care to inform all bidders, by any means, whether or not they are the best bidders at the time of formalization of the aforementioned irrevocable purchase offer.
5.2 Submission of offers to increase the starting price. Formulation of higher bids The offer, formalized by the first bidder, may be exceeded by higher bids placed by any enabled user.
The user who wishes to be the best bidder (and therefore provisional purchaser) must have placed the highest offer at the end of the online auction.
Clearly, where there are several participants who place higher bids on the offer at the auction starting price, even the user recognized as the "first bidder" may compete for the award of the lots by placing higher bids on the current price.
In order to be awarded 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) according to the following methods:
5.2.1 Static offer By "static offer" is meant a bid at the price published online, plus a predetermined minimum increment.
5.2.2 Maximum offer (Proxy Bid):
By "proxy bid" is meant a maximum-amount offer. It corresponds to the maximum amount that the user is willing to offer for each lot. The value of the proxy bid is entered manually by each bidder.
Until the maximum offer formulated by the user is exceeded by a higher-amount offer, that same user will be the best bidder and therefore provisional purchaser.
The current price will automatically adjust based on the amount of the predetermined increments, until the value set as the "maximum offer" is reached.
The value of the maximum offer (proxy bid) formulated by a user will not be visible to other users.
5.3. Validity of offers In any case (static offer – maximum offer – free offer), offers will be considered valid only if submitted during the auction period.
5.3.1 Extra time If a winning offer is placed in the 5 minutes preceding the auction closing, the time available to place another offer will be extended by a further 5 minutes from the last bid received. And so on indefinitely, for each offer winning bid received within 5 minutes of extra time, until the conclusion of the time allowed.
In the event of extra time, 5 minutes must pass without any additional bid being recorded from the last bid received, before the auction can be considered definitively closed.
Automatic bids in the case of a maximum bid (proxy bid) shall also be considered winning bids.
5.4. Awarding of the lots At the end of each auction procedure, following an investigative phase, the best bidders will be sent a confirmation of provisional award pursuant to Art. 107 of the Bankruptcy Law, against which they will be required to make payments by the deadline established in the specific sale conditions.
The provisional award will be granted to the bidder who has submitted the highest offer for each lot, or, in the absence of further bids, to the bidder who is recognized as the first, in chronological order, to have completed the procedure for finalizing the irrevocable purchase offer described in point 5.1.
In the event of award, the sale price must be paid in full by bank transfer made out to the procedure within the deadlines set forth in the specific conditions, on pain of forfeiture and definitive loss of the deposit.
The deed of sale will be executed by notarial deed in accordance with the methods established by the Principal (described in point 11, Transfer of ownership)
Bids submitted are binding and constitute a formal commitment to purchase. If the successful bidder does not pay the consideration within the deadlines set forth in the specific sale conditions, or if the award should lapse, the sale shall be deemed automatically terminated and the deposit shall be retained, in accordance with the methods set forth in the "Security Deposit" section. In such case, the award will be granted successively, in favor of the next highest bidder, who has completed the procedure described in point 5.1 or placed a further bid, based on what is set out in point 5.2.
5.5 Other provisions Where required by law, the Principal, as person responsible for the sale procedure, may exercise the right provided for in Art. 107, fourth paragraph, of the Bankruptcy Law, and suspend the sale if an irrevocable improved purchase offer is received for an amount not 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 awarding of the lots in agreement with the Principal.
6. Obligations of the PrincipalPursuant to Art. 107 of the Bankruptcy Law, the Principal undertakes to give notice by notification to each mortgage creditor or otherwise privileged creditor 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 pre-emption rights, transcriptions of foreclosures and conservatory seizures and any other encumbrance burdening the real estate included in the sale will be cancelled pursuant to Art. 108 of the Bankruptcy Law once the sale has been executed and the price fully collected. Unless otherwise provided in the specific sale conditions, all formalities for cancellation will be carried out by and at the expense of the successful bidder.
7. Buyer’ s Premium
The fee due to the Agent shall be exclusively borne by the buyer and indicated with the wording Buyer’s Premium. It shall be calculated on the award amount of the asset, in accordance with the methods indicated in the specific sale conditions.
8. Charges The notarial charges, statutory taxes and all expenses relating to the sale, whether fiscal or not, shall be borne by the buyer. Communication regarding the exact amount of the charges and their correct specification must be provided by the Principal as soon as possible.
The Principal must make provision in that regard, taking into account the tax regime of the transaction and any tax benefits that the purchaser intends to use. The Principal will therefore be required to verify whether the transaction is subject to VAT or registration tax and to specify, if the conditions are met, whether it intends to use the reverse charge.
At the end of the sale, the Agent will lastly ask the winning bidder whether it intends to use the first-home benefit or another tax benefit and will inform the Principal accordingly, so that the latter can calculate the exact amount that the purchaser will be required to pay in terms of taxes.
The winning bidder must pay the costs within and no later than the deadlines indicated in the specific conditions of sale.
9. Security deposit Participation in the auction is conditional upon payment of a mandatory security deposit defined in the specific conditions of sale.
Before being enabled to participate in the auction, participants must pay the amount set out above by bank transfer or, where provided for in the specific conditions, by credit card through the platform. Payments must be made as set out in the specific conditions of sale.
The deposit must be credited strictly before the auction deadline.
For payment by bank transfer, it is recommended to make a BIR-type transfer (bank transfer of significant amount)
If auction participants do not win any asset, the deposit will be refunded within 20 business days of the award, without interest.
In the event of award of one or more lots, the security deposit will be refunded after the purchaser has completed the transfer of ownership of the real estate purchased at auction by notarial deed, subject to authorization provided by the Principal. In such case, the security deposit may be retained both to cover any charges attributable to the Procedure, at the Principal's discretion, and to cover any other services provided by the Agent.
If the security deposit is paid by credit card, the deposit will be collected into the Agent's current account, which will refund the amount so retained in the manner described above.
If the purchaser wins at least one lot at auction, the Agent, in agreement with the Principal, may deduct the deposit from the total amount owed by the purchaser.
If, in the event of award, after paying the deposit, the bidder does not complete the purchase within the deadlines set out in the specific conditions of sale, whether as the hammer price, Buyer's Premium or any additional charges, the sale will be automatically terminated and the deposit will be retained as a compensatory penalty.
10. Payments The provisional winning bidder of one or more lots must comply with the specific auction conditions, which will specify the deadlines for payment of both the awarded lots and the Buyer's Premium due as well as any additional charges, and the relevant compensation clauses in the event of failure to comply with the aforementioned conditions.
All payments must be made in full exclusively by bank transfer, unless otherwise provided in the specific conditions. The details will be specified upon the user's receipt of the provisional award confirmation.
In the event that payment of the amounts due is not completed within the established deadlines, in agreement with the Principal, the sale will be automatically terminated and the security deposit will be retained as a compensatory penalty, with consequent forfeiture of the award.
11 . Transfer of ownership The transfer of ownership will take place only after full payment of the hammer price and costs, as provided in the specific conditions of sale, by notarial deed in the manner established by the Principal, unless otherwise indicated in the specific conditions of sale.
In the case of sales judicial, the Principal shall undertake, finally, to give notice to the Delegated Judge so that he in turn shall arrange for the cancellation of the encumbrances on the properties subject to transfer pursuant to Art. 108 of the Bankruptcy Law, as indicated in Art. 6.
After the deadlines provided for payments set out in the specific conditions of sale, in the event of failure to complete the transfer of ownership, the sale shall be automatically terminated and the amount paid by the successful bidder as Buyer's Premium shall be retained by the Agent as liquidated damages. The amount paid by the successful bidder as security deposit shall, however, 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 the total or partial correspondence of the descriptions of the lots present in the auction or in the advertisements published on the platform.
For all matters not provided for in these general conditions or in the specific conditions, the provisions contained in the Terms of Use of the website
www.gobidreal.it shall apply.
The registered user is aware of the possible objective and subjective issues arising from the use of an online auction or online advertisement carried out 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 the case of wilful misconduct or gross negligence on its part. Under no circumstances GOBID INTERNATIONAL AUCTION GROUP S.r.l. shall be liable for: direct actions of the user that may cause damage or malfunction to the system, unavailability of display and/or use of www.gobidreal.it, unlawful use of www.gobidreal.it, any event after the conclusion of the auction.
For all matters not expressly provided for in these conditions, general and specific, reference is made to the rules of the Code of Civil Procedure and the Bankruptcy Law.
The sale of real estate is deemed forced (Art. 2919 Civil Code). It is ordered for the goods seen and liked in the factual and legal state in which they are found. In a forced sale, there is no warranty for defects in the thing. It cannot be challenged on grounds of damages. (Art. 2922 Civil Code).
Any liability on the part of the Agent is excluded with regard to the existence of third-party rights over the goods subject to the sale (Art. 2920 Civil Code).
The sale of real estate takes place in the factual and legal state in which they are found, with all any appurtenances, accessions, rights and actions, active and passive easements. The sale is by lump sum and not by measure, and without any warranty for defects or other lack.
ABUSES, VIOLATIONS, ENCUMBRANCES, COMPLIANCE WITH CURRENT REGULATIONS
For further information regarding any abuses, violations, encumbrances or non-compliance with current regulations of the lots for sale, please refer to the attached appraisal.
The lots are sold as seen and liked in the state in which they are found.
Viewing of the lots in auction is strongly recommended, GOBID INTERNATIONAL AUCTION GROUP S.r.l. or the Principal decline all liability for any errors, omissions and inaccuracies in the photos, descriptions and any other detail indicated in the auction or in the advertisements, for this reason viewing of the lots is strongly recommended in order to verify the actual condition of the goods in auction. No warranty is given by GOBID INTERNATIONAL AUCTION GROUP S.r.l. or by the Principal
By accepting these conditions, the buyer releases GOBID INTERNATIONAL AUCTION GROUP S.r.l. and the Principal from any warranty or third-party claim.
In the event of any disputes arising relating to the interpretation of the provisions contained in the general and specific conditions set out on the platform, possibly translated into other languages, the Italian version of the text shall prevail.
Where not specified, the times indicated in the specific conditions and on the platform refer to the time zone indicated in the server time published on the site