GENERAL TERMS AND CONDITIONS

This constitutes a collection of irrevocable purchase offers relating to the lots published on the platform www.gobidreal.it.
Please note that the irrevocable purchase offers covered by this collection do not impose on the PRINCIPAL any obligation or commitment to sell, nor any costs for potential brokerage or consultancy services (other than those covered by the appointment conferred on the AGENT), and do not constitute invitations to make an offer, public offers under ex Art. 1336 of the Italian Civil Code, or public solicitations of savings under ex Art. 94 et seq. of Legislative Decree 58/1998.
For the participation rules and all information concerning the above-mentioned collection, please refer to the specific terms and conditions published on the platform www.gobidreal.it.

Table of Contents:
 
·         Art. 1. Definitions
·         Art. 2. Applicability
·         Art. 3. Publication and conduct of auctions and listings
·         Art. 4. Participation and submission of offers
·         Art. 5. Irrevocable purchase offer
·         Art. 6. Obligations of the Principal
·         Art. 7. Buyer's Premium
·         Art. 8. Costs
·         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 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 under an appointment conferred by the Principal.
Principal: Person responsible for the Procedure
Agent:GOBID INTERNATIONAL AUCTION GROUP S.r.l.
Procedure:insolvency proceedings declared by a Court or a sales mandate conferred by private individuals
Auction: Competitive online sale of real estate published on www.gobidreal.it
Listing: Publication of a notice concerning the sale or collection of offers/expressions of interest for real estate, published on www.gobidreal.it
Lot: 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 the registered user to participate in an individual Auction
Bidder Number: Identification number of the Registered User
General Terms and Conditions: These terms and conditions
Specific Terms and Conditions: Specific terms and conditions of the Auction
Deposit: Amount to be paid to participate in the Auction.
Starting Price: Starting price of the individual lots
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 intends to pay for the lot
Minimum Bid Increment: Predetermined amount added to the current price, required to place a static bid.
Extra time : Extension of the time available to place bids in an 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 Buyer’s Premium due and any additional tax or 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 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, the lots available 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 and submission of offers.
4.1 Listing  
 
User participation in the listing process shall be governed by the specific terms and conditions, where applicable.
 
4.2 Online auction
4.2.1 Registration process
To participate in the sale, the user must register on the website www.gobidreal.it, enter their personal details, request registration for the auction, and accept its terms and conditions.
 
The details entered by the individual when registering on the website and for the auctions will be the same details to which any award will be attributed and in whose name the property will be registered. All payments required, both before and after the sale, must be made by the registered individuals. Any powers of attorney or delegations may be considered subject to the Principal's authorization.
 
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 simultaneously send a copy of the bank transfer receipt to [email protected]
 
The security deposit must be credited before the auction ends, unless otherwise indicated in the specific terms and conditions of sale.
 
In addition to paying the security deposit, to be authorized to participate in the auction, the user must provide the following documents by uploading them in the "My Documents" section or sending them to [email protected]
 
-       INDIVIDUALS:
 
-       Copy of a valid identity document for the person in whose name the property will be registered (the property cannot be registered in the name of anyone other than the person who completes the registration, in accordance with the procedure described in point 5.1)
-       Copy of the tax code
-       If the bidder is married under the statutory community of property regime, the spouse's corresponding details must also be provided, together with a copy of their identity document (this document is not a requirement for authorization to participate but is required in the event of award)
 
-       IF COMPANIES OR ENTITIES:
 

Where provided for under specific conditions, additional documents will be required to supplement those mentioned above.
 
5. Irrevocable purchase offer 
 
5.1 Procedure for completing offers at the 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 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 shall 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 several participants have formalized their irrevocable purchase offers in the manner described above, and none of the bidders places a higher bid on the Platform, the highest bidder and, therefore, the provisional successful bidder shall be the person who, first in chronological order:
 
            - completed the aforementioned procedure.
 
The Agent shall inform 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 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.
 
To be the highest bidder (and therefore the provisional successful bidder), a user must have submitted the highest bid at the end of the online auction.
 
Clearly, if several 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) for sale, users will be invited to increase the price indicated 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 for a maximum amount. It is the maximum amount the user is willing to offer for each lot. Each bidder enters the proxy bid amount manually.
 
Until the user's maximum bid is exceeded by a higher offer, that user shall remain the highest bidder and, therefore, the provisional successful bidder.
 
The current price shall automatically adjust based on the predetermined bid increments, up to the amount set as the “maximum bid”.
 
The value of a user's maximum bid (proxy bid) shall not be visible to other users.
 
 
5.3. Validity of bids
 
In all cases (static bid – maximum bid – open bid), bids shall be deemed 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 allowed to place another bid shall be extended by a further 5 minutes from the last bid received. This shall continue in the same way for every winning bid received within the 5-minute extra-time period, until the allotted time 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 may be considered definitively closed.
 
Automatic higher bids in the event of a maximum bid (proxy bid) shall also be considered winning bids.
 
 
5.4. Awarding of lots
 
At the end of each auction, following a review phase, the highest bidders shall be sent confirmation of the provisional award pursuant to Article 107 of the Bankruptcy Law, and shall be required to make payment by the deadline established in the specific terms of sale.
 
The provisional award shall be made to the bidder who submitted the highest bid for each lot or, if no further bids were 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 held in the name of the proceedings, within the deadlines established in the specific terms, failing which the award shall be forfeited and the security deposit permanently lost.
 
The deed of sale shall be executed by notarial 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 amount due within the deadlines established in the specific terms of sale, or if the award is forfeited, the sale shall automatically be rescinded and the security deposit shall be retained in accordance with the procedures set out in the “Security deposit” section. In that case, the award shall be made successively to the next highest bidder who has completed the procedure described in section 5.1 or placed a higher bid, in accordance with the provisions of section 5.2.
 
 
 
5.5 Other provisions
 
Where provided for by law, the Principal, as the party responsible for the sale procedure, may exercise the right provided for under Article 107, fourth paragraph, of the Bankruptcy Law, and suspend the sale upon receipt of an improved irrevocable purchase offer for an amount not less than ten percent of the price offered.
 
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 Principal
Pursuant to Article 107 of the Bankruptcy Law, the Principal undertakes to give notice by notification to each mortgage creditor or creditor otherwise holding a preferential right 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, 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 paid in full. Unless otherwise provided in the specific terms of sale, all formalities for cancellation shall be carried out at the successful bidder's expense and under their responsibility.
 
7. Buyer’s Premium 
The fee payable to the Agent shall be borne exclusively by the purchaser and shall be indicated as the Buyer’s Premium. It shall be calculated on the amount of the successful bid for the asset, in accordance with the procedures specified in the specific terms of sale.
 
 
8. Charges 
 
The purchaser shall bear the notarial fees, statutory taxes, and all expenses relating to the sale, whether tax-related or otherwise (except for those listed above in section 6). The Principal shall provide information on the exact amount of the charges and specify them correctly as soon as possible.
 
In doing so, the Principal shall take into account the tax treatment of the transaction and any applicable         tax benefits the buyer intends to claim. The Principal will therefore be required to determine 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 mechanism.
 
At the end of the sale, the Agent will finally 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 it can calculate the exact amount of taxes the buyer will be required to pay.
 
The successful bidder must pay the expenses within the deadlines specified in the specific conditions of sale.
 
 
 
9. Security Deposit
 
 
Participation in the auction is subject to payment of a mandatory security deposit, as specified in the specific conditions 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 conditions, by credit card through the platform. Payments must be made as set out in the specific conditions of sale.
The security deposit must be credited before the auction closes.
 
For payment by bank transfer, a BIR transfer (high-value bank transfer) is recommended.
 
If auction participants do not win any lots, the security deposit will be refunded, without interest, within 20 business days of the auction award.
If one or more lots are awarded, the security deposit will be refunded after the buyer 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 or to cover other services provided by the Agent.
If the security deposit is paid by credit card, it will be charged to the Agent’s bank account, and the Agent will refund the amount thus retained in accordance with the procedures described above.
If the buyer wins 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 buyer.
If, after paying the security deposit, the bidder fails to complete the purchase within the deadlines set out in the specific conditions 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 a compensatory penalty.
 
10. Payments
 
The provisional successful bidder for one or more lots must comply with the specific conditions of the auction, 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 payment details will be provided when the user receives confirmation of the provisional award.
 
If the amounts due are not paid in full within the established deadlines, the sale will be automatically rescinded in agreement with the Principal, and the security deposit will be retained as a compensatory penalty, resulting in the forfeiture of the award.
 
 
 
 
11. Transfer of Ownership
 

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 offered at auction or in advertisements published on the platform and the actual lots.
 
For all matters not covered by these general conditions or the specific conditions, the provisions contained in the website’s Terms of Use www.gobidreal.it shall apply.
 
The registered user acknowledges the potential issues, both objective and subjective, 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 responsible.
 
GOBID INTERNATIONAL AUCTION GROUP S.r.l. shall not be liable for any direct and/or indirect damage or liability, except in cases of willful misconduct or gross negligence on its part. Under no circumstances shall GOBID INTERNATIONAL AUCTION GROUP S.r.l. be liable for: actions by the user that may cause damage to or malfunction of the system; unavailability of, or inability to view and/or use, www.gobidreal.it; unlawful use of www.gobidreal.it; or any event occurring after 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 Code of Civil Procedure and the Bankruptcy Law.
The sale of real estate is a forced sale (Article 2919 of the Civil Code). The property is sold as seen and accepted, in its actual and legal condition. In a forced sale, there is no warranty against defects in the property. The sale may not be challenged on the grounds of damage (Article 2922 of the Civil Code).
 
The Agent shall have no liability for the existence of third-party rights over the property being sold (Article 2920 of the 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 made as a whole and not by measure, without any warranty against defects or other deficiencies.
 
UNAUTHORIZED WORKS, VIOLATIONS, ENCUMBRANCES, COMPLIANCE WITH APPLICABLE REGULATIONS
For further information regarding any unauthorized works, violations, encumbrances or failures to comply with applicable regulations relating to 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 disclaim all 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 conditions, the buyer releases GOBID INTERNATIONAL AUCTION GROUP S.r.l. and the Principal from any warranty or third-party claim.


In the event of any disputes concerning the interpretation of the provisions contained 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.