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 purchase offer
· 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, authorised to sell by auction under Licence No. 13/2008 issued by the Milan Police Commissioner 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 on behalf of the Principal.
Principal: Person responsible for the proceedings
Agent:GOBID INTERNATIONAL AUCTION GROUP S.r.l.
Proceedings:insolvency proceedings declared by a Court or a sales mandate granted by private parties
Auction: Competitive online sale of real estate published on
www.gobidreal.itListing: Publication of a notice concerning the sale or the collection of offers/expressions of interest in real estate, published on
www.gobidreal.itLot: An asset or group of assets offered for sale in an Auction or Listing
Registered User: User registered on www.gobidreal.it
Auction Registration: Authorisation requested by the Registered User to participate in a specific
AuctionBidder Number: Registered User identification number
General Terms and Conditions: These terms and conditions
Specific Terms and Conditions: Terms and conditions specific to the Auction
Deposit: Amount to be paid to participate in the Auction.
Starting Price: Starting price of each lot
Reserve Price: Minimum price which, when reached, authorises 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 Bid Increment: Predetermined amount added to the current price, required to submit a static bid.
Extra time : Extension of the time available for placing bids in the auction (see Extra-time section)
Provisional Award: Notice sent to the highest bidder by GOBID INTERNATIONAL AUCTION GROUP S.r.l.
Award Price: Amount of the award for the lot, excluding any applicable Buyer's Premium and any additional tax and non-tax 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, Specific Terms and Conditions will be published, setting out all specific information relating to the auction or listing itself and the lots.
These terms and conditions apply unless otherwise provided in the Specific Terms and Conditions for 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 their dates 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 suspend the auction or listings.
4. Participation procedures and submission of bids.4.1 Listing User participation in the listing process will be governed by the specific terms and conditions, where available.
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 those to which the award may be granted and in whose name the property will be registered. All payments required 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 authorisation.
The user must pay the required security deposit by bank transfer to the 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 at the same time send a copy of the bank transfer receipt to
[email protected] The security deposit must be credited before the end of the auction, unless otherwise specified in the specific terms and conditions of sale.
In addition to payment of the security deposit, to be authorised to participate in the auction, the user must provide the following documents by uploading them in the "My Documents" section or by sending them to
[email protected] - IF AN INDIVIDUAL:
- Copy of a valid identity document of the person in whose name the property is to be registered (the property may not be registered in the name of anyone other than the person completing the registration, in accordance with the procedure described in section 5.1)
- Copy of the tax code
- If the bidder is married under the community property regime, the spouse's corresponding details must also be provided, together with a copy of their identity document (this document is not required for authorisation to participate but will be required in the event of an award)
- IF A COMPANY OR ORGANISATION:
- Current Chamber of Commerce extract 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 that person is not the legal representative, a copy of the document evidencing their relevant powers
- Copy of the tax code of the person who signed the bid
- Any duly legalised translation of the Chamber of Commerce certificate, if the company is not Italian
- Special power of attorney received or authenticated by thenotary, in the event of participation through a representative
Where provided for in the specific terms, additional documents will be required and added to those mentioned above.
5. Irrevocable purchase offer 5.1 Procedure for finalizing offers at the starting price
The combined effect of crediting the security deposit, completing 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 the required supporting documentation, as specified above in section 4.2.1, shall be deemed equivalent to an irrevocable purchase offer 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 entered 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 purchase offer in the manner described above, and none of the bidders places a higher bid on the Platform, the person who, first in chronological order:
- has completed the aforementioned procedure
shall be deemed the highest bidder and, therefore, the provisional successful bidder.
The Agent shall notify all bidders, by any means, whether or not they are the highest bidders when the aforementioned irrevocable purchase offer is formalized.
5.2 Submission of offers to increase the starting price. Placing higher bids The offer placed for the first bidder may be exceeded by higher bids placed by any authorized user.
To be deemed the highest bidder (and therefore the provisional successful bidder), a user must have placed the highest bid when the online auction ends.
Clearly, if multiple participants place higher bids on the starting auction 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) for sale, 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 maximum bid. It is the maximum amount the user is willing to offer for each lot. Each bidder enters the value of their proxy bid manually.
Until the user's maximum bid is exceeded by a higher offer, that user will remain the highest bidder and, therefore, the provisional successful bidder.
The current price will automatically increase according to the predetermined bid increments, up to the amount set as the “maximum bid.”
The value of a user's maximum bid (proxy bid) will not be visible to other users.
5.3. Validity of offers In all cases (static bid – maximum bid – open bid), offers will be considered valid only if submitted during the auction period.
5.3.1 Extra time If a winning bid is placed within 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 indefinitely for every winning bid received within the 5-minute extra-time period, until the bidding period ends.
In the event of extra time, 5 minutes must pass without any additional offer being recorded after the last bid received before the auction can be considered definitively closed.
Automatic increases in the event 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 highest bidders will receive confirmation that they are the provisional successful bidders pursuant to Article 107 of the Bankruptcy Law. They will then 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 submitted the highest offer for each lot or, if no further bids are placed, to the bidder recognized as the first, in chronological order, to have completed the procedure for finalizing the irrevocable purchase offer described in section 5.1.
In the event of an award, the full purchase price must be paid by bank transfer to the account specified for the proceedings, within the deadlines set out in the specific terms, on pain of forfeiture and definitive loss of the security deposit.
The sale deed shall be executed by means of a notarial deed in accordance with the procedures established by the Principal (described in section 11, Transfer of ownership).
Offers submitted are binding and constitute a formal purchase commitment. If the successful bidder fails to pay the consideration within the deadlines set out in the specific terms of sale, or if the award is revoked, the sale shall automatically be deemed cancelled and the security deposit shall be retained in accordance with the procedures set out in the “Security deposit” section. In such cases, the award shall pass successively to the next highest bidder who has completed the procedure described in section 5.1 or placed a higher bid, in accordance with section 5.2.
5.5 Other provisions Where permitted by law, the Principal, as the party responsible for the sale procedure, may exercise the right provided for in Article 107, paragraph four, of the Bankruptcy Law and suspend the sale if it receives an irrevocable purchase offer that is at least 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 the lots in agreement with the Principal.
6. Obligations of the PrincipalPursuant to Article 107 of the Bankruptcy Law, the Principal undertakes to notify each mortgage creditor or other creditor holding a preferential right at least 20 days before the date set for the conclusion of each sale attempt, and to inform the Supervising 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 pre-emption rights, registrations of attachments and precautionary seizures, and any other encumbrances on the real estate offered for sale shall be cancelled pursuant to Article 108 of the Bankruptcy Law once the sale has been completed and the price has been paid in full. Unless otherwise provided for in the specific terms of sale, all formalities for cancellation shall be carried out at the successful bidder's expense.
7. Buyer’s Premium
The fee payable to the Agent shall be borne exclusively by the buyer and is referred to as the Buyer’s Premium. It shall be calculated on the sale price of the asset, in accordance with the procedures set out in the specific terms of sale.
8. Costs The buyer shall bear the notary's fees, statutory taxes, and all expenses relating to the sale, whether tax-related or otherwise. The Principal shall provide details of the exact amount of these costs and their proper itemization as soon as possible.
In this regard, the Principal shall take 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 it intends 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 the latter can calculate the exact amount of tax the purchaser will be required to pay.
The successful bidder must pay the costs within the deadlines specified in the specific conditions of sale.
9. Security deposit Participation in the auction is conditional upon payment of a mandatory security deposit, as specified in the specific conditions of sale.
Before being authorised to participate in the auction, participants must pay the amount specified above by bank transfer or, where provided for in the specific conditions, by credit card via the platform. Payments must be made as specified in the specific conditions of sale.
The security deposit must be credited before the auction ends.
For payments by bank transfer, a BIR transfer (high-value bank transfer) is recommended.
If participants in the auction are not successful in purchasing any item, the security deposit will be refunded within 20 working days of the award, without interest.
If one or more lots are awarded, the security deposit will be refunded after the purchaser has completed the transfer of ownership of the real estate purchased at auction by means of a notarial deed, subject to authorisation from the Principal. In this case, the security deposit may be retained, at the Principal's discretion, to cover any costs attributable to the Proceedings and to cover any 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 this way in accordance with the procedures described above.
If the purchaser is successful in purchasing at least one lot at auction, the Agent may, in agreement with the Principal, deduct the security deposit from the total amount due from the purchaser.
If, after paying the security deposit, the bidder does not complete the purchase within the deadlines specified in the specific conditions of sale, including payment of the award price, the Buyer’s Premium and any additional costs, the sale will be automatically cancelled and the security deposit will be retained as liquidated damages.
10. Payments The provisional successful bidder for one or more lots must comply with the specific auction conditions, which will specify the deadlines for payment of both the lots awarded 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 conditions.
All payments must be made in full, exclusively by bank transfer, unless otherwise specified in the specific conditions. The bank details will be provided when the user receives confirmation of the provisional award.
If the amounts due are not paid in full within the specified deadlines, the sale will be automatically cancelled in agreement with the Principal, and the security deposit will be retained as liquidated damages, resulting in the award being revoked.
11 . Transfer of ownership Ownership will be transferred only after full payment of the award price and costs, as provided for in the specific conditions of sale, by means of a notarial deed in accordance with the procedures established by the Principal, unless otherwise specified in the specific conditions of sale.
In the case of court-ordered sales, the Principal will also notify the Delegated Judge, so that the Judge may in turn arrange for the cancellation of adverse registrations affecting the real estate being transferred, pursuant to Article 108 of the Bankruptcy Law, as specified in Article 6.
Once the payment deadlines specified in the specific conditions of sale have elapsed, if the transfer of ownership has not been completed, the sale will be automatically cancelled and the amount paid by the successful bidder as the Buyer’s Premium will be retained by the Agent as liquidated damages. The amount paid by the successful bidder as a security deposit will instead be retained in accordance with the provisions set out in the Security Deposit section.
12. Warranties GOBID INTERNATIONAL AUCTION GROUP S.r.l. is not responsible for any failure to correspond, or partial correspondence, between the descriptions of the lots listed in the auction or in advertisements published on the platform.
For all matters not covered by these general conditions or the specific conditions, the provisions of 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 conducted over 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 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; unavailability of access to and/or use of www.gobidreal.it; unlawful use of www.gobidreal.it; or any event occurring after the auction has ended.
For all matters not expressly covered by 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 a forced sale (Art. 2919 of the Italian Civil Code). The property is sold as inspected and accepted, in its actual and legal condition as it stands. In a forced sale, no warranty is given against defects in the property. The sale cannot be challenged on the grounds of damage. (Art. 2922 of the Italian Civil Code).
The Agent shall have no liability whatsoever for the existence of third-party rights over assets included in the sale (Art. 2920 of the Italian Civil Code).
The real estate is sold in its actual and legal condition as it stands, together with all appurtenances, fixtures, 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 against defects or any other deficiencies.
UNAUTHORISED WORKS, VIOLATIONS, ENCUMBRANCES, COMPLIANCE WITH APPLICABLE REGULATIONS
For further information regarding any unauthorised 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 inspected and accepted, in their current condition.
Inspection of the lots at auction is strongly recommended. GOBID INTERNATIONAL AUCTION GROUP S.r.l. or the Principal disclaim all liability for any errors, omissions or inaccuracies in photographs, descriptions or any other details provided for the auction or in advertisements. For this reason, inspection of the lots is strongly recommended in order to verify the actual condition of the assets being auctioned. No warranty is given by GOBID INTERNATIONAL AUCTION GROUP S.r.l. or the Principal
By accepting these conditions, the purchaser indemnifies GOBID INTERNATIONAL AUCTION GROUP S.r.l. and the Principal against any warranty claims or claims by third parties.
In the event of any dispute concerning the interpretation of the provisions contained in the general and specific conditions 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 conditions and on the platform refer to the time zone indicated by the server time published on the website