GENERAL TERMS AND CONDITIONSTable of Contents: · Art. 1. Definitions
· Art. 2. Applicability
· Art. 3. Publication and conduct of auctions and announcements
· 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. Guarantees
Art.1 Definitions: GOBID INTERNATIONAL AUCTION GROUP S.r.l.: Owner and manager of the online auction website http://www.gobidreal.it, with registered office in Milan, Via P.O. Vigliani , 19, VAT -Tax Code 09441470961 , authorized for auction sale with License issued by the Milan Police Commissioner no.13/2008 of 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 given 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 given by private individuals
Auction: Competitive online sale of real estate published on
www.gobidreal.itAnnouncement: Publication of a notice regarding the sale or collection of offers/expressions of interest on real estate published on
www.gobidreal.itLot: Asset or set of assets present, subject of Auction or Announcement
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 achievement 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 bid: Predefined amount added to the current price necessary to formalize the static bid.
Extra-time : Extension of the time available to make 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 tax and non-tax 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 website www.gobidreal.it and, in particular, to the publication and conduct of auctions and announcements, as well as to the terms and conditions of user participation.
2.1. Specific conditions For each auction or announcement, where provided, the Specific Conditions will be published, which will indicate all specific information relating to the auction or the announcement itself and the lots
These conditions are applicable unless otherwise indicated by the Specific Conditions of each individual auction or announcement
3. Publication and conduct of auctions and announcements Auctions and announcements will be published on the website www.gobidreal.it indicating 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 announcements.
4. Methods of Participation and Submission of Bids.4.1 Announcement The user's participation in the announcement 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 website
www.gobidreal.it, entering their personal data, request registration for the auction, accepting its terms and conditions.
The data entered by the person during registration on the website and for auctions will be the same as those to which the award may be attributed and to which the property will be registered. All required payments, 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 current account specified in the specific conditions of sale and on the registration page.
Where indicated in the specific conditions of sale, the deposit may be paid online by credit card.
The user must specify the auction number for which they intend to participate and simultaneously send a copy of the bank transfer receipt to the address
[email protected] The deposit must be compulsorily credited before the auction deadline, unless otherwise indicated in the specific conditions of sale.
In addition to the crediting of the security deposit, the user, to be enabled to participate in the auction, must provide the following documents via upload in the "My Documents" section or by sending to the address
[email protected] - IF A NATURAL PERSON:
- Copy of a valid identity document of the person to whom the property will be registered (it will not be possible to register the property to a person other than the one who signs 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 property regime, the corresponding data of the spouse must also be indicated, with submission of a copy of the identity document (document not binding for the purposes of authorization but required in case of award)
- IF COMPANIES or ENTITIES:
- Updated company registration report or C.C.I.A.A. certificate
- Copy of a valid identity document of the person who signed the offer on behalf of the company and, if it is a person other than the legal representative, a copy of the document from which the relevant powers result
- Copy of the tax code of the person who signed the offer
- Any duly legalized translation of the company 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 provided for by specific conditions, additional documents will be required and shall supplement those mentioned above.
5. Irrevocable purchase offer 5.1 Procedure for finalizing offers at the auction base price
The combined effect of the credit 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 required supporting documentation, as specified above in point 4.2.1, shall be considered equivalent to an irrevocable purchase offer at the price set as the auction base for each sale attempt and shall constitute, in itself, a binding purchase commitment on the part of the user.
Such offer shall 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, according to the procedures 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 one who, first in time:
- has carried out the aforementioned procedure.
The Mandatary shall 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 for increase of the base price. Formulation of higher bids The offer, formalized for 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 successful bidder) 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 base price, even the user recognized as "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) in the following ways:
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 offer, that same user shall be the best bidder and therefore provisional successful bidder.
The current price shall automatically adjust based on the amount of the predetermined increments, until reaching the value set as the "maximum offer".
The value of the maximum offer (proxy bid) formulated by a user shall not be visible to other users.
5.3. Validity of offers In any case (static offer – maximum offer – free offer), offers shall be considered valid only if submitted within the duration of the auction.
5.3.1 Extra time If a winning offer is placed in the 5 minutes before the auction closes, the time available to place another offer shall be extended by a further 5 minutes from the last bid received. And so on, for each winning offer received within the 5 minutes of extra time, until the end of the available time.
In the event of extra time, 5 minutes must pass without any additional offer being recorded from the last bid received before the auction can be considered definitively closed.
Automatic higher bids in the case of a maximum offer (proxy bid) shall also be considered winning offers.
5.4. Award of lots At the end of each auction solution, following an investigative phase, the best bidders shall be sent a confirmation of provisional award pursuant to Art. 107 of the Italian Bankruptcy Law, against which they shall be required to make payments by the deadline set in the specific conditions of sale.
The provisional award shall be attributed to the bidder who has submitted the highest offer for each lot, or, in the absence of further higher bids, to the bidder who has been recognized as the first, in time order, to have completed the finalization procedure of 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 terms set in the specific conditions, under penalty of forfeiture and definitive loss of the security deposit.
The deed of sale shall be executed by notarial deed in the manner established by the Principal (described in point 11, Transfer of ownership)
Offers submitted are binding and constitute a formal purchase commitment. If the successful bidder does not pay the consideration within the terms set in the specific conditions of sale, or if the award should lapse, the sale shall be automatically terminated and the security deposit shall be retained, in accordance with the procedures set out in the section "Security Deposit". In that case, the award shall be attributed successively, in favor of the next best bidder, who has completed the procedure described in point 5.1 or placed a higher bid, on the basis of what is illustrated in point 5.2.
5.5 Other provisions Where provided by law, the Principal, as person responsible for the sale procedure, may exercise the power provided by Art. 107, fourth paragraph, of the Italian Bankruptcy Law, and suspend the sale in the event of receipt of an improved irrevocable purchase offer for an amount not less than ten percent of the offered price
In any case, 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 Art. 107 of the Italian Bankruptcy Law, the Principal undertakes to give notice by notification to each mortgagee creditor or creditor otherwise having a privilege 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 garnishments and preservative seizures and any other encumbrance burdening the real properties put up for sale shall be cancelled pursuant to Art. 108 of the Italian Bankruptcy Law once the sale has been executed and the price has been fully collected. Unless otherwise provided in the specific conditions of sale, all formalities for cancellation shall be carried out by and at the expense of the successful bidder.
7. Buyer's Premium
The fee due to the Mandatary shall be borne exclusively by the purchaser and indicated with the wording Buyer's Premium. It shall be calculated on the award amount of the asset, according to the procedures indicated in the specific conditions of sale.
8. Charges The notarial charges, statutory taxes and all expenses relating to the sale, whether fiscal or not, shall be borne by the purchaser. Communication regarding the exact amount of the charges and their correct specification must be made by the Principal as soon as possible.
The Principal must provide accordingly, taking into account theTax regime of the transaction and any benefits that the buyer 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 exist, whether it intends to use the reverse charge.
At the end of the sale, the Agent will finally ask the successful bidder whether it intends to use the first-home benefit or other tax benefit and inform the Principal accordingly, so that it can calculate the exact amount that the buyer will be required to pay in terms of taxes.
The successful bidder must pay the expenses within the terms indicated in the specific conditions of sale.
9. Security deposit Participation in the auction is conditional on 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 established above by bank transfer or, where provided in the specific conditions, by credit card through the platform. Payments must be made as established in the specific conditions of sale.
The deposit must be credited before the auction deadline.
For payment by bank transfer, it is recommended to make a BIR (large amount transfer) transfer.
If auction participants do not win any asset, the deposit will be returned within 20 working days from the award, without interest.
In the event of awarding one or more lots, the security deposit will be returned after the buyer has completed the transfer of ownership of the real estate purchased at auction by notarial deed, subject to authorization provided by the Principal. In this case, the security deposit may be retained both to cover any charges attributable to the Procedure, at the Principal's discretion, and to cover other services provided by the Agent.
In the event of payment of the security deposit by credit card, the deposit will be collected in the Agent's current account, which will return the amount so retained in the manner described above.
If the buyer 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 buyer.
If, in the event of awarding, after paying the deposit, the bidder does not complete the purchase within the terms established in the specific conditions of sale, as both the award price and the Buyer's Premium and any additional charges, the sale will be automatically terminated and the deposit will be retained as a penalty.
10. Payments The provisional successful bidder of one or more lots is required to comply with the specific auction conditions where the terms for payment of both the awarded lots and the Buyer's Premium due as well as additional charges will be specified, and the related compensation clauses in case of non-compliance with the aforementioned conditions.
All payments must be made in full exclusively by bank transfer, unless otherwise indicated in the specific conditions. The details will be specified upon receipt by the user of the provisional award confirmation.
In the event that payment of the amounts due is not completed within the established terms, in agreement with the Principal, the sale will be automatically terminated and the security deposit will be retained as a penalty, with consequent forfeiture of the award.
11. Transfer of ownership The transfer of ownership will occur only after full payment of the award price and expenses, as provided in the specific conditions of sale, by notarial deed according to the methods established by the Principal, unless otherwise indicated in the specific conditions of sale.
In the case of judicial sales, the Principal will finally arrange to notify the Delegated Judge so that the latter in turn proceeds with the cancellation of prejudicial registrations on the properties subject to transfer pursuant to Art. 108 of the Bankruptcy Law, as indicated in Art. 6.
After the terms provided for payments in the specific conditions of sale have elapsed, in the event of failure to complete the transfer of ownership, the sale will be automatically terminated and the amount paid by the successful bidder as Buyer's Premium will be retained by the Agent as a penalty. The amount paid by the successful bidder as security deposit will, on the other hand, be retained according to the rules provided in the Security Deposit section.
12. Warranties GOBID INTERNATIONAL AUCTION GROUP S.r.l. is not responsible for the failure 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 responsible.
GOBID INTERNATIONAL AUCTION GROUP S.r.l. is not liable for direct and/or indirect damage or liability except in cases of willful misconduct or gross negligence on its part. GOBID INTERNATIONAL AUCTION GROUP S.r.l. shall in no way be liable for: direct actions of the user that may cause damage or malfunction to the system, unavailability of viewing and/or use of www.gobidreal.it, unlawful use of www.gobidreal.it, any event subsequent to 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 considered forced (Art. 2919 Italian Civil Code). It is arranged for goods seen and liked in the factual and legal state in which they are found. In forced sales, there is no warranty for defects in the thing. It cannot be challenged on grounds of damages. (Art. 2922 Italian Civil Code).
Any liability on the part of the Agent regarding the existence of third-party rights over the goods subject to sale is excluded (Art. 2920 Italian 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 relating to any abuses, violations, encumbrances or lack of compliance with current regulations of the lots for sale, please refer to the attached appraisal.
The lots are sold seen and liked in the state in which they are found.
Viewing the lots in auction is strongly recommended. GOBID INTERNATIONAL AUCTION GROUP S.r.l. or the Principal decline all responsibility 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 the lots is strongly recommended in order to verify the real 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 holds harmless GOBID INTERNATIONAL AUCTION GROUP S.r.l. and the Principal from any warranty or third-party claim.
In the event of any disputes relating to the interpretation of the provisions contained in the general and specific conditions reported on the platform, possibly translated into other languages, the Italian version of the text shall prevail.
Where not specified, the times reported in the specific conditions and on the platform refer to the time zone indicated in the server time published on the site