GENERAL TERMS AND CONDITIONSTable of Contents: · Art. 1. Definitions
· Art. 2. Applicability
· Art. 3. Publication and conduct of auctions and listings
· Art. 4. Participation procedures and submission of bids
· Art. 5. Irrevocable offer to purchase
· Art. 6. Principal's obligations
· 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 operator of the online auction website http://www.gobidreal.it, with registered office in Milan, Via P.O. Vigliani, 19, VAT No. - Tax Code 09441470961, authorized to conduct auctions under License No. 13/2008 issued by the Police Commissioner of Milan 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 under an appointment granted by the Principal.
Principal: The person responsible for the Proceedings
Agent:GOBID INTERNATIONAL AUCTION GROUP S.r.l.
Proceedings:insolvency proceedings declared by the Court or a sales appointment granted by private individuals
Auction: Competitive online sale of real estate published on
www.gobidreal.itListing: Publication of a notice concerning the sale or the collection of bids/expressions of interest for 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: Authorization requested by a Registered User to participate in an individual
AuctionBidder Number: Identification number of the Registered User
General Terms and Conditions: These terms and conditions
Specific Terms and Conditions: The specific terms and conditions of the Auction
Deposit: Amount to be paid to participate in the Auction.
Starting Price: Starting price of each Lot
Reserve Price: Minimum price whose attainment authorizes 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 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 an auction (see Extra time section)
Provisional Award: Notification sent to the highest bidder by GOBID INTERNATIONAL AUCTION GROUP S.r.l.
Award Price: Amount of the award price for the Lot, excluding any Buyer’s Premium due and any additional tax and other charges
Buyer's Premium: Fee payable 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 For each auction or listing, where applicable, the Specific Terms and Conditions will be published, setting out all specific information relating to the auction or listing and the Lots.
These terms and conditions apply unless otherwise specified in the Specific Terms and Conditions of 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 the dates on which they will take place and the Lots offered 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 interrupt the auction or listings.
4. Participation procedures and submission of bids.4.1 Listing User participation in the listing format 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 by entering their personal details, request registration for the auction, and accept its terms and conditions.
The details entered by the user when registering on the website and for the auctions will be the same details to which the award may be granted and in whose name the property will be registered. All payments required, both before and after the sale, must be made by the registered users. Any powers of attorney or delegations may be considered subject to the Principal's prior authorization.
The user must pay the required security deposit by bank transfer to the bank 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 ends, unless otherwise specified in the specific terms and conditions of sale.
In addition to payment of the security deposit, to be authorized to participate in the auction, the user must provide the following documents by uploading them to 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 completes the registration, in accordance with 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 authorization but will be required if the property is awarded)
- IF A COMPANY OR ORGANIZATION:
- Recent company register 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 authority
- Copy of the tax code of the person who signed the bid
- Any duly legalized translation of the company register certificate, if the company is not Italian
- Special power of attorney received or authenticated by notary, in the case of participation through a representative
Where required by specific terms, additional documents will be required to supplement the above-mentioned documents.
5. Irrevocable offer to purchase 5.1 Procedure for completing offers at the auction starting price
The combined effect of crediting the security deposit, formalizing registration for the auction—with express acceptance of the general and specific terms of sale, published online at www.gobidreal.it—and the user's submission of all required supporting documentation, as specified above in section 4.2.1, shall be considered 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 is more than one participant who has formalized an irrevocable offer to purchase in the manner described above, and none of the bidders places a higher bid on the Platform, the best bidder and, therefore, provisional successful bidder shall be the person who, first in chronological order:
- has completed the aforementioned procedure.
The Agent shall inform all bidders, by any means, whether or not they are the best bidders when the aforementioned irrevocable offer to purchase is formalized.
5.2 Submission of bids to increase the starting price. Placing higher bids The offer formalized by the first bidder may be outbid by higher bids placed by any authorized user.
A user wishing to be the best bidder (and therefore the provisional successful bidder) must have placed the highest bid by the end of the online auction.
Clearly, if multiple participants place higher bids on the offer at the auction starting price, 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) being sold, users will be invited to increase the price shown in the auction (and therefore 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 maximum bid placed by the user is outbid by a higher offer, that user will remain the best bidder and, therefore, the provisional successful bidder.
The current price will automatically increase by the predetermined bid increments until it reaches 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—open 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 time available 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 higher bids in the case 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 best bidders will be sent confirmation of provisional award pursuant to Article 107 of the Bankruptcy Act, and will be required to make payment by the deadline set out in the specific terms of sale.
The provisional award will be made to the bidder who has 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 finalizing the 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 designated for the proceedings within the time limits established in the specific terms, failing which the award will be forfeited and the security deposit permanently lost.
The sale deed will be executed by notarized 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 purchase price within the time limits established in the specific terms of sale, or if the award is revoked, the sale will be automatically terminated and the security deposit will be retained in accordance with the procedures set out in the "Security deposit" section. In such case, the award will be made successively to the next best bidder, who must have 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, as the party responsible for the sale procedure, may exercise the option provided for in Article 107, fourth paragraph, of the Bankruptcy Act and suspend the sale upon receipt of an improved irrevocable offer to purchase for an amount no less than ten percent higher than the offer received.
In any event, GOBID INTERNATIONAL AUCTION GROUP S.r.l. reserves the right to suspend the auction or the award of lots in agreement with the Principal.
6. Obligations of the PrincipalPursuant to Article 107 of the Bankruptcy Act, the Principal undertakes to give notice by notification to 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 pre-emption rights, records of attachments and preventive seizures, and any other encumbrances on the real estate put up for sale, will be canceled pursuant to Article 108 of the Bankruptcy Act once the sale has been completed and the price paid in full. Unless otherwise provided in the specific terms of sale, all formalities for cancellation will be carried out at the successful bidder's expense.
7. Buyer’ s Premium
The fee due to the Agent shall be payable exclusively by the purchaser and is identified as the Buyer’s Premium. It will be calculated on the amount of the successful bid in accordance with the procedures specified in the specific terms of sale.
8. Costs The following shall be borne by the purchaser: notarial fees, statutory taxes, and all expenses relating to the sale, whether tax-related or otherwise. The Principal must provide information on the exact amount of the costs and a clear breakdown of them as soon as possible.
The Principal must act accordingly, taking into account the tax treatment of the transaction and any tax benefits the purchaser 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 they intend to apply the reverse charge.
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 they can calculate the exact amount of tax the purchaser will be required to pay.
The successful bidder must pay the expenses no later than the deadlines specified in the specific terms of sale.
9. Security Deposit Participation in the auction is conditional upon payment of a mandatory security deposit, as 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 specified in the specific terms of sale.
The security deposit must be credited before the auction ends.
For payment by bank transfer, a BIR transfer (large-value bank transfer) is recommended.
If auction participants do not win any lots, the security deposit will be refunded within 20 business days of the sale, without interest.
If one or more lots are won, the security deposit will be refunded once the purchaser 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 and/or to cover other services provided by the Agent.
If the security deposit is paid by credit card, it will be collected into the Agent's bank account, and the Agent will refund the amount withheld in accordance with the procedures described above.
If the purchaser wins at least one lot at auction, the Agent may, in agreement with the Principal, deduct the security deposit from the total amount owed by the purchaser.
If, after paying the security deposit, the bidder fails to complete the purchase within the deadlines specified in the specific terms of sale, including payment of the winning bid price, the Buyer’s Premium and any additional costs, the sale will be automatically rescinded and the security deposit will be retained as compensation for damages.
10. Payments The provisional successful bidder of one or more lots must comply with the specific terms of the auction, which will specify the deadlines for payment of both the lots won and the Buyer’s Premium due, as well as any additional costs 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 provided in the specific terms. The bank details will be provided when the user receives confirmation of the provisional award.
If the amounts due are not paid in full by the specified deadlines, the sale will be automatically rescinded in agreement with the Principal, and the security deposit will be retained as compensation for damages, with the award consequently revoked.
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 the case of court-ordered sales, the Principal will also notify the Delegated Judge so that the Judge may arrange for the cancellation of any prejudicial registrations affecting the real estate being transferred pursuant to Article 108 of the Bankruptcy Law, as indicated in Article 6.
Once the payment deadlines specified in the specific terms of sale have passed, if the transfer of ownership has not been completed, the sale will be automatically rescinded and the amount paid by the successful bidder as the Buyer’s Premium will be retained by the Agent as compensation for damages. 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. shall not be liable for any failure to correspond, or partial correspondence, 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 potential 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 damages or liability, except in cases of wilful misconduct or gross negligence on its part. Under no circumstances shall GOBID INTERNATIONAL AUCTION GROUP S.r.l. be liable for: actions taken directly by the user that may cause damage to or malfunction of the system; inability to view and/or use www.gobidreal.it; unlawful use of www.gobidreal.it; or any event occurring after the auction has concluded.
For all matters not expressly provided for in these general and specific terms, reference is made to the provisions of the Italian Code of Civil Procedure and the Bankruptcy Law.
The sale of real estate is a forced sale (Article 2919 of the Italian Civil Code). The property is sold as seen and accepted, in its actual and legal condition. In a forced sale, no warranty is provided for defects in the property. The sale cannot be challenged on the grounds of damage (Article 2922 of the Italian Civil Code).
The Agent shall have no liability whatsoever regarding the existence of third-party rights over assets being sold (Article 2920 of the Italian Civil Code).
The real estate is sold in its actual and legal condition, 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 APPLICABLE REGULATIONS
For further information concerning any unauthorized works, violations, encumbrances or non-compliance with applicable regulations affecting the lots for sale, please refer to the attached appraisal.
The lots are sold as seen and accepted, in their current condition.
Inspection of the lots offered at auction is strongly recommended. GOBID INTERNATIONAL AUCTION GROUP S.r.l. and the Principal accept no 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, inspection of the lots is strongly recommended in order to verify their actual condition. No warranty is given by GOBID INTERNATIONAL AUCTION GROUP S.r.l. or the Principal.
By accepting these terms, the purchaser releases GOBID INTERNATIONAL AUCTION GROUP S.r.l. and the Principal from any warranty or third-party claim.
In the event of any dispute concerning the interpretation of the provisions set out 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