GENERAL TERMS AND CONDITIONSThis is a collection of irrevocable purchase offers relating to the lots published on the platform
www.gobidreal.it.
Please note that the irrevocable purchase offers forming the subject of this collection do not entail any obligation or commitment to sell on the part of the PRINCIPAL, nor any costs for any brokerage or consultancy services (apart from the assignment given to the AGENT), and do not constitute invitations to make offers, offers to the public
pursuant to Art. 1336 of the Italian Civil Code, or solicitations of public savings
pursuant to Art. 94 et seq. of Legislative Decree 58/1998.
For the participation rules and all information concerning the aforementioned 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 procedures 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. and Tax Code 09441470961, authorised to conduct auctions under Licence issued by the Police Commissioner of Milan No. 13/2008 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 assignment granted by the Principal.
Principal: Person responsible for the Proceedings
Agent:GOBID INTERNATIONAL AUCTION GROUP S.r.l.
Proceedings:insolvency proceedings declared by the Court or a sales assignment granted by private parties
Auction: Competitive online sale of real estate published on
www.gobidreal.itListing: Publication of a notice concerning the sale or collection of offers/expressions of interest for real estate, published on
www.gobidreal.itLot: An asset or group of assets offered in an Auction or Listing
Registered User: User registered on www.gobidreal.it
Auction Registration: Authorisation requested by a Registered User to participate in a specific
AuctionBidder Number: Identifier of the Registered User
General Terms and Conditions: These terms and conditions
Specific Terms and Conditions: The specific terms and conditions of the Auction
Deposit: Amount to be paid in order to participate in the Auction.
Starting Price: Starting price of the individual lots
Reserve Price: Minimum price, reaching which 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 in order to place a Static Bid.
Extra time : Extension of the time available to place bids in the auction (see the Extra time section)
Provisional Award: Notice sent to the highest bidder by GOBID INTERNATIONAL AUCTION GROUP S.r.l.
Award Price: Amount for which the Lot is awarded, excluding any Buyer’s Premium due and any additional taxes 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 itself 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 and the lots included 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 Procedures and Submission of Offers.4.1 Listing User participation in the listing format will be governed by the specific terms and conditions, where applicable.
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 the same details to which the award may be made and in whose name the property will be registered. All payments required, both 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 specified 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 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 to the "My Documents" section or sending them to
[email protected].
- IF AN INDIVIDUAL:
- Copy of a valid identity document belonging to the person in whose name the property is to be registered (the property cannot be registered in the name of a person other than the person who submits the registration, in accordance with the procedure described in section 5.1)
- Copy of the tax code
- If the bidder is married under the statutory community property regime, the corresponding details of their spouse must also be provided, together with a copy of their identity document (this document is not binding for the purposes of the qualification but required in case of award)
- IF COMPANIES or ENTITIES:
- Up-to-date 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 that person is not the legal representative, a copy of the document establishing their authority
- Copy of the tax code of the person who signed the bid
- Any duly legalised translation of the company registration certificate, if the company is not Italian
- Special power of attorney executed or authenticated by a notary, in the event of participation through a representative
Where required by specific conditions, further documents will be requested in addition to those mentioned above.
5. Irrevocable purchase offer 5.1 Procedure for completing offers at the auction starting price
The combined effect of crediting the security deposit, formalising 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 considered 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.
That offer shall be formalised 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 formalised their irrevocable purchase offers in the manner described above and none of the bidders places a higher bid on the Platform, the person who is first in chronological order to:
- complete the aforementioned procedure
shall be deemed the highest bidder and, therefore, the provisional successful bidder.
The Agent shall inform all bidders, by any means, whether or not they are the highest bidders when the aforementioned irrevocable purchase offer is formalised.
5.2 Submission of bids to increase the starting price. Placing higher bids The offer formalised for the first bidder may be exceeded by higher bids placed by any authorised user.
The user who wishes to be the highest bidder (and therefore the provisional successful bidder) must have placed the highest bid by the end of the online auction.
Clearly, if several participants place higher bids on the offer at the auction starting price, the user recognised 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 at 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" is a bid for a maximum amount. It represents 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 will automatically adjust according to the predetermined bid increments, up to the amount set as the "maximum bid".
The amount of a user's maximum bid (proxy bid) will 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 in the 5 minutes preceding the auction's closing time, the time available to place another bid shall be extended by a further 5 minutes from the latest bid received. This extension shall continue for every winning bid received within the 5-minute extra-time period, until the available bidding time has elapsed.
In the event of extra time, 5 minutes must pass without any additional bid being recorded after the latest bid received before the auction can be deemed definitively closed.
Automatic bids placed in response to 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 provisional award pursuant to Article 107 of the Bankruptcy Law, following which they shall be required to make payment by the deadline established in the specific terms of sale.
The provisional award shall be granted to the bidder who submitted the highest offer for each lot or, if no further bids are placed, to the bidder recognised as the first in chronological order to have completed the procedure for finalising the irrevocable purchase offer, as described in section 5.1.
In the event of an award, the full purchase price must be paid by bank transfer to the account designated for the proceedings within the deadlines established in the specific terms, on pain of forfeiture and permanent loss of the security deposit.
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 offers are binding and constitute a formal commitment to purchase. 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 revoked, the sale shall be automatically terminated 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 in turn to the next highest bidder, who must have completed the procedure described in section 5.1 or placed a higher bid in accordance with 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 in Article 107, fourth paragraph, of the Bankruptcy Law and suspend the sale upon receipt of an irrevocable purchase offer that improves upon the current offer by an amount of no less than ten per cent 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 Article 107 of the Bankruptcy Law, the Principal undertakes to give notice to each mortgage creditor or creditor otherwise holding a preferential claim, by formal notification 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 rights of pre-emption, registrations of attachments and precautionary seizures, and any other encumbrances affecting 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 termsof sale, all formalities for cancellation shall be carried out at the expense and care of the successful bidder.
7. Buyer’s Premium
The fee payable to the Agent shall be borne exclusively by the buyer and is indicated as the Buyer’s Premium. It shall be calculated on the hammer price of the asset, in accordance with the procedures set out in the specific conditions of sale.
8. Costs The buyer shall bear the notarial fees, statutory taxes and all expenses relating to the sale, whether tax-related or otherwise. The Principal shall provide information on the exact amount of the costs and specify them correctly as soon as possible.
In this regard, the Principal shall take into account the tax treatment of the transaction and any tax relief the buyer intends to claim. The Principal shall therefore ascertain whether the transaction is subject to VAT or registration tax and, where applicable, specify whether it intends to apply the reverse charge mechanism.
At the end of the sale, the Agent shall ask the successful bidder whether they intend to claim the first-home tax relief or any other tax benefit and shall inform the Principal accordingly, so that the Principal can calculate the exact amount of taxes payable by the buyer.
The successful bidder shall pay the expenses no later than 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 shall pay the amount specified above by bank transfer or, where provided for in the specific conditions, by credit card through the platform. Payments shall be made as specified in the specific conditions of sale.
The security deposit must be credited before the auction ends.
For payment by bank transfer, a BIR transfer (high-value bank transfer) is recommended.
If participants do not win any assets at the auction, the security deposit shall be refunded within 20 business days of the auction award, without interest.
If one or more lots are awarded, the security deposit shall 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 other services provided by the Agent.
If the security deposit is paid by credit card, it shall be charged to the Agent’s bank account, and the Agent shall refund the amount withheld in accordance with the procedures described above.
If the buyer is awarded at least one lot at auction, the Agent may, in agreement with the Principal, deduct the security deposit from the total amount payable by the buyer.
If, after being awarded a lot and paying the security deposit, the bidder fails to complete the purchase within the deadlines specified in the specific conditions of sale, including payment of the hammer price, the Buyer’s Premium and any additional costs, the sale shall be automatically rescinded and the security deposit shall be retained as liquidated damages.
10. Payments The provisional successful bidder for one or more lots must comply with the specific auction conditions, which shall specify the deadlines for payment of both the lots awarded and the Buyer’s Premium due, as well as any additional costs, and the applicable 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 provided in the specific conditions. The payment details shall be provided when the user receives confirmation of the provisional award.
If the amounts due are not paid by the specified deadlines, the sale shall be automatically rescinded, in agreement with the Principal, and the security deposit shall be retained as liquidated damages, with the award consequently forfeited.
11. Transfer of Ownership Ownership shall be transferred only after full payment of the hammer price and expenses, 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 shall also notify the Delegated Judge so that the Judge may arrange for the cancellation of any adverse registrations on the real estate being transferred pursuant to Art. 108 of the Bankruptcy Law, as specified in Art. 6.
Once the payment deadlines specified in the specific conditions of sale have passed, if the transfer of ownership has not been completed, the sale shall be automatically rescinded and the amount paid by the successful bidder as the Buyer’s Premium shall be retained by the Agent as liquidated damages. The amount paid by the successful bidder as a security deposit shall instead be retained in accordance with the provisions of the Security Deposit section.
12. Warranties GOBID INTERNATIONAL AUCTION GROUP S.r.l. shall not be liable for any failure to correspond, or partial correspondence, between the descriptions of lots offered at auction or in listings published on the platform and the actual lots.
For all matters not covered by these general conditions or the specific conditions, the provisions set out in the Terms of Use of the website
www.gobidreal.it shall apply.
The registered user acknowledges that objective and subjective issues may arise from using an online auction or online listing 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. In no event shall GOBID INTERNATIONAL AUCTION GROUP S.r.l. be liable for: actions taken directly by the user that may damage or disrupt the system; inability to view and/or use www.gobidreal.it; unlawful use of www.gobidreal.it; or any event occurring after the auction has ended.
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 (Art. 2919 of the Italian Civil Code). The assets are sold as inspected and accepted, in their actual and legal condition as they stand. In a forced sale, no warranty is provided for defects in the asset. The sale cannot be contested 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 being sold (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, additions, rights and claims, and active and passive easements. The sale is of the property as a whole and not by measure, and without any warranty for 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 inspected 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 photographs, descriptions or any other details provided in the auction listings or advertisements; for this reason, inspection of the lots is strongly recommended in order to verify the actual condition of the goods being auctioned. No warranty is given by GOBID INTERNATIONAL AUCTION GROUP S.r.l. or the Principal
By accepting these terms and conditions, the buyer 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 concerning the interpretation of the provisions contained in the general and specific terms and 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 terms and conditions and on the platform refer to the time zone indicated by the server time published on the website