TERMS AND CONDITIONSTable of Contents: · Art. 1. Definitions
· Art. 2. Applicability
· Art. 3. Publication and conduct of auctions and announcements
· Art. 4. Participation methods 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 website http://www.gobidreal.it, with registered office in Milan, Via P.O. Vigliani , 19, VAT - Tax Code 09441470961 , authorized for auction sales 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 behalf of 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 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: Identification 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 whose achievement 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 Raise: 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 best 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: Compensation 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, indicating all specific information relating to the auction or 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. Participation Methods 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 subject during registration on the website and for auctions will be the same to which the award will possibly be attributed and to which the property will be registered. All required payments, before and after the sale, must be made by the registered subjects. 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, the deposit payment may be made online by credit card.
The user is required to 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 credited 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 via upload in the "My Documents" section or by sending them 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 the sending of a copy of the spouse's identity document (document not binding for authorization purposes but required in case of award)
- IF A COMPANY or ENTITY:
- Updated company registration report or C.C.I.A.A. certificate
- Copy of a valid identity document of the person who signed the bid on behalf of the company and, if a person other than the legal representative, a copy of the document showing the relevant powers
- Copy of the tax code of the person who signed the bid
- Any duly legalized translation of the company certificate, if the company is not Italian
- Special power of attorney received or authenticated by notary, in case of participation through a representative
Where provided for by specific conditions, additional documents will be required, which will supplement those mentioned above.
5. Irrevocable purchase offer 5.1 Procedure for finalizing offers at the auction base price
The combination 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 user's sending of all required supporting documentation, as specified above in point 4.2.1, will be considered equivalent to an irrevocable purchase offer at the price set as the auction base for each sale attempt and will constitute, in itself, a binding commitment to purchase by the user.
This offer will be formalized on the platform directly by the Agent via online bid, on behalf of the first user who has completed the finalization procedure described above.
If there are multiple participants who have formalized their irrevocable purchase offer according to the procedures described above, and none of the bidders makes a higher bid on the Platform, the best bidder and therefore provisional successful bidder will be the one who, first in time order:
- has carried out the aforementioned procedure.
The Agent will take care to inform all bidders in any manner 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 base price. Formulation of higher bids The offer formalized by the first bidder may be exceeded by higher bids placed by any authorized user.
The user who wishes to be the best bidder (and therefore provisional successful bidder) must have placed the highest bid at the end of the online auction.
Clearly, if there are multiple participants who make higher bids on the auction base price offer, the user recognized as the "first bidder" may also compete for the award of the lots by making 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 make at least one higher bid) according to the following methods:
5.2.1 Static offer By "static offer" we mean a bid at the price published online, plus a predetermined minimum increment.
5.2.2 Maximum offer (Proxy Bid):
By "proxy bid" we mean 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, the same user will be the best bidder and therefore provisional successful bidder.
The current price will automatically adjust based on the amount of the pre-set increments, until reaching the value set as the "maximum offer".
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 make another offer will be extended by an additional 5 minutes from the last bid received. And so on, for each winning offer received within the 5 minutes of extra time, until the conclusion 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 definitively considered closed.
Automatic higher bids in the case of a maximum offer (proxy bid) will also be considered winning offers.
5.4. Award of lots At the end of each auction solution, following an investigation 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 set in the specific conditions of sale.
The provisional award will 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 established in the specific conditions, under penalty of forfeiture and definitive loss of the security deposit.
The deed of sale will be stipulated by notarial deed according to the methods established by the Principal (described in point 11, Transfer of ownership)
The offers submitted are binding and constitute a formal commitment to purchase. If the successful bidder does not pay the consideration within the terms established in the specific conditions of sale, or if the award should lapse, the sale will be automatically terminated and the security deposit will be retained, according to the methods established in the "Security Deposit" section. In such case, the award will be assigned, successively, to the next best bidder, who has completed the procedure described in point 5.1 or made 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 the person responsible for the sale procedure, may exercise the power provided by Art. 107, fourth paragraph, of the Bankruptcy Law, and suspend the sale in the event of receipt of an irrevocable purchase offer that is an improvement by 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 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 of the mortgage creditors or those otherwise holding a privilege at least 20 days before the date set for the conclusion of each sale attempt, as well as to inform the Delegated Judge and the Creditors' Committee of the outcome of each sale attempt, by filing the relevant documentation with the Court Registry.
The Principal declares that any registrations relating to preemption rights, transcriptions of foreclosures and precautionary seizures and any other encumbrance on the real estate included in the sale, will be cancelled pursuant to Art. 108 of the Bankruptcy Law once the sale is completed and the price fully collected. Unless otherwise provided in the specific conditions of sale, all formalities for cancellation will be carried out at the care and expense of the successful bidder.
7. Buyer’s Premium
The fee due to the Agent will be exclusively borne by the buyer and indicated with the wording Buyer’s Premium. It will be calculated on the award amount of the asset, according to the methods indicated in the specific conditions of sale.
8. Charges The notarial charges, statutory taxes and all expenses relating to the sale, fiscal and otherwise, will be borne by the buyer. 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 the tax treatment of the transaction and any benefits that the purchaser intends to use. The Principal shall 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 shall finally ask the successful bidder whether it intends to use the first-home benefit or another tax benefit and inform the Principal accordingly, so that it may calculate the exact amount that the purchaser will be required to pay in terms of taxes.
The successful bidder shall pay the expenses within and no later than the deadlines indicated in the specific conditions of sale.
9. Security deposit Participation in the auction is subject to payment of a mandatory security deposit as defined in the specific conditions of sale.
Before being enabled to participate in the auction, participants must pay the above-established amount by bank transfer or, where provided for 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 strictly before the auction deadline.
For payment by bank transfer, it is recommended to make a BIR-type transfer (significant amount bank transfer)
If auction participants do not win any asset, the deposit will be returned within 20 business days from the award, without interest.
In the event of award of one or more lots, the security deposit will be returned 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.
In the event of payment of the security deposit by credit card, the deposit will be collected into the Agent's current account, which will return the amount so retained according to the methods 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 an award, after paying the deposit, the bidder does not complete the purchase within the deadlines established in the specific conditions of sale, whether as the award price or as the Buyer's Premium and any additional charges, the sale shall be automatically terminated and the deposit shall be retained as liquidated damages.
10. Payments The provisional successful bidder of one or more lots must comply with the specific auction conditions, which will specify the terms for payment of both the awarded lots and the Buyer's Premium due as well as additional charges, and the relevant compensation clauses in the event of failure to comply with the above 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 shall be automatically terminated and the security deposit shall be retained as liquidated damages, with consequent forfeiture of the award.
11 . Transfer of ownership The transfer of ownership shall 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 shall finally undertake to notify the Delegated Judge so that the latter may in turn arrange for the cancellation of prejudicial registrations on the properties being transferred pursuant to Art. 108 of the Bankruptcy Law, as indicated in Art. 6.
Once the deadlines for payments provided in the specific conditions of sale have elapsed, 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 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 announcements 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 announcement 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 its willful misconduct or gross negligence. GOBID INTERNATIONAL AUCTION GROUP S.r.l. shall absolutely not be liable for: direct user actions 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 following the conclusion of the auction.
For all matters not expressly provided for in these general and specific conditions, reference is made to the provisions of the Italian Code of Civil Procedure and the Bankruptcy Law.
The sale of real estate is deemed forced (Art. 2919 of the Italian 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, the warranty for defects of the thing does not apply. It cannot be challenged on grounds of damages. (Art. 2922 of the 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 of the 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, additions, 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 the lots at auction is strongly recommended, GOBID INTERNATIONAL AUCTION GROUP S.r.l. or the Principal decline any liability for any errors, omissions and inaccuracies in the photos, descriptions and any other detail indicated in the auction or in the announcements, for this reason, viewing the lots is strongly recommended in order to verify the actual condition of the goods at auction. No warranty is given by GOBID INTERNATIONAL AUCTION GROUP S.r.l. or by the Principal
By accepting these conditions, the purchaser holds GOBID INTERNATIONAL AUCTION GROUP S.r.l. and the Principal harmless 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 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