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. Warranties
Art.1 Definitions: GOBID INTERNATIONAL AUCTION GROUP S.r.l.: Owner and manager of the online auction website http://www.gobidreal.it, headquartered 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 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 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 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 allowed 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 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, indicating 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 The auctions and announcements will be published on the website 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 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 subject 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, prior to and following 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, the deposit may be paid online by credit card.
The user is required to specify the auction number for which they intend to participate and simultaneously send an accounting copy of the transfer made 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 the crediting of the security deposit, the user, to be enabled to participate in the auction, must provide the following documents by upload in the "My Documents" section or by sending them to the address
[email protected] - IF 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 the legal community of property regime, the corresponding data of the spouse must also be indicated, with sending of the relevant copy of the identity document (document not binding for enabling purposes 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, copy of the deed 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 required by specific conditions, additional documents will be requested, which will supplement the aforementioned ones.
5. Irrevocable purchase offer 5.1 Procedure for finalizing bids at the auction base 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 sale conditions, 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, 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 purchase commitment on the part of the user.
Said offer will be formalized on the platform directly by the Agent by means of an online bid, on behalf of the first user who has completed the finalization procedure described above.
Where there are multiple participants who have formalized their irrevocable purchase offer, according to the methods described above, and none of the bidders places a further bid on the Platform, the best bidder and therefore provisional successful bidder will be the one who, first, in chronological order:
- has completed the aforementioned procedure.
The Agent 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 bids to increase the base price. Formulation of further bids The offer formalized by the first bidder may be exceeded by bids of a higher amount, placed by any enabled user.
The user who wishes to be the best bidder (and therefore provisional successful bidder) must have submitted the highest bid by the end of the online auction.
Clearly, where there are multiple participants who place further bids on the auction base price offer, even the user recognized as the "first bidder" may compete for the award of the lots by placing further bids on the current price.
In order to be awarded the lot(s) on sale, users will be invited to increase the price indicated in the auction (and therefore to place at least one further bid) according to the following methods:
5.2.1 Static bid By "static bid" is meant a bid at the price published online, plus a pre-set minimum increment.
5.2.2 Maximum bid (Proxy Bid):
By "proxy bid" is meant a maximum-amount bid. 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 bid submitted by the user is exceeded by a higher-amount bid, that 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, up to reaching the value set as the "maximum bid".
The value of the maximum bid (proxy bid) submitted by a user will not be visible to other users.
5.3. Validity of bids In any case (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 submitted in the 5 minutes preceding the auction closing, the time available to place another bid will be extended by a further 5 minutes from the last bid received. This continues indefinitely, for each winning bid received within the 5 minutes of extra time, until the available time ends.
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 further bids in the case of a maximum bid (proxy bid) will also be considered winning bids.
5.4. Award of lots At the end of each auction solution, following an assessment 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 sale conditions.
The provisional award will be attributed to the competitor who has submitted the highest bid for each lot, or, in the absence of further bids, to the bidder who has been recognized as the first, in chronological order, to have completed the finalization procedure for 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 in the specific conditions, on pain of forfeiture and definitive loss of the deposit.
The deed of sale will be executed by notarial deed according to the methods established by the Principal (described in point 11, Transfer of ownership)
The bids submitted are binding and constitute a formal purchase commitment. If the successful bidder does not pay the consideration within the deadlines set in the specific sale conditions, or if the award should lapse, the sale will be deemed automatically terminated and the deposit will be retained, according to the methods set out in the "Security Deposit" section. In such case, the award will be attributed, in turn, to the next best bidder, who has completed the procedure described in point 5.1 or placed a further bid, on the basis of what is set out 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 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 price offered
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 Bankruptcy Law, the Principal undertakes to give notice by notification to each mortgage creditor or otherwise creditor with a privilege at least 20 days before the date set for the conclusion of each sale attempt, and to inform the Delegate 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 pre-emption, transcriptions of liens and conservatory seizures and any other encumbrance on the real properties put up for sale will be cancelled pursuant to Art. 108 of the Bankruptcy Law once the sale has been completed and the price fully collected. Unless otherwise provided in the specific sale conditions, all formalities for cancellation will be carried out at the expense of the successful bidder.
7. Buyer’s Premium
The fee due to the Agent will be borne exclusively 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 sale conditions.
8. Charges The notarial charges, statutory taxes and all expenses relating to the sale, tax and non-tax, 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 act accordingly, taking into account the tax regime of the operation and any reliefs the purchaser intends to use. The Principal will therefore be required to verify whether the operation 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 lastly ask the winning bidder whether it intends to use the first-home benefit or another tax benefit and inform the Principal accordingly, so that it can calculate the exact amount the purchaser will be required to pay in terms of taxes.
The winning bidder must pay the expenses within and no later than the deadlines indicated in the specific sale conditions.
9. Security deposit Participation in the auction is conditional upon payment of a mandatory security deposit defined in the specific sale conditions.
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 established in the specific sale conditions.
The deposit must strictly be credited before the end of the auction.
For payment by bank transfer, it is recommended to make a BIR-type transfer (bank transfer of relevant amount)
If auction participants do not win any asset, the deposit will be returned within 20 working days of 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.
If the security deposit is paid 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 is awarded 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 set out in the specific sale conditions, as regards 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 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 additional charges, and the relevant compensation clauses in the event of failure to comply with the said 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 award price and expenses, as provided in the specific sale conditions, by notarial deed according to the methods established by the Principal, unless otherwise indicated in the specific sale conditions.
In the case of judicial sales, the Principal will lastly be responsible for notifying the Delegated Judge so that the latter in turn arranges for the cancellation of prejudicial registrations on the properties subject to transfer pursuant to art. 108 of the Italian Bankruptcy Law, as indicated in art. 6.
After the deadlines provided for payments in the specific sale conditions 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 winning bidder as Buyer’s Premium will be retained by the Agent as a compensatory penalty. The amount paid by the winning bidder as security deposit will, instead, 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 total 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 issues, both objective and subjective, 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 responsible.
GOBID INTERNATIONAL AUCTION GROUP S.r.l. is not liable for direct and/or indirect damage or liability except in cases of its willful misconduct or gross negligence. Absolutely GOBID INTERNATIONAL AUCTION GROUP S.r.l. is not 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 following the conclusion of the auction.
For all matters not expressly provided for in these general and specific conditions, reference is made to the rules of the Italian Code of Civil Procedure and of the Bankruptcy Law.
The sale of real estate is deemed forced (Art. 2919 Italian Civil Code). It is arranged for the goods seen and liked in the factual and legal state in which they are located. In a forced sale, the warranty for defects of the thing does not apply. It cannot be challenged on grounds of damage. (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 the sale is excluded (Art. 2920 Italian Civil Code).
The sale of real estate occurs in the factual and legal state in which they are located, with all possible appurtenances, accretions, claims and actions, active and passive easements. The sale is as a whole 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 lack of compliance with current regulations of the lots for sale, reference is made to the attached appraisal.
The lots are sold seen and liked in the state in which they are located.
Viewing the lots at 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 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 indemnifies GOBID INTERNATIONAL AUCTION GROUP S.r.l. and the Principal against any warranty or claim of third parties.
In the event of any disputes arising regarding 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