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 offer to purchase
· 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, authorised to conduct auctions under Licence No. 13/2008 issued by the Police Commissioner of Milan 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: The party 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 a sale or the collection of bids/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: A user registered on www.gobidreal.it
Auction registration: Authorisation requested by the registered user to participate in an individual
AuctionBidder Number: Identifier of the Registered User
General Terms and Conditions: These terms and conditions
Specific Terms and Conditions: Terms and conditions specific to the Auction
Deposit: Amount payable to participate in the Auction.
Starting Price: Starting price of each individual lot
Reserve Price: Minimum price which, once 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 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 for placing 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 of the award of 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 Where applicable, Specific Terms and Conditions will be published for each auction or listing, setting out all specific information relating to the auction or listing itself and its lots.
These terms and conditions apply unless otherwise specified in the Specific Terms and Conditions of 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, specifying the dates on which they will take place and the lots available, together with the general and specific terms and conditions, where applicable.
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 The user's participation in the listing process 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, enter their personal details, request registration for the auction and accept its terms and conditions.
The details entered by the person when registering on the website and for the auctions will be the same details under which the award may be made and the property registered. All payments required, both before and after the sale, must be made by the registered parties. 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 paying the security deposit, in order 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 will be registered (the property cannot be registered in the name of a person other than the one who completes 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 but will be required in the event of an award)
- IF A COMPANY OR ENTITY:
- Recent company register extract or certificate from the Chamber of Commerce, Industry, Crafts and Agriculture
- 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 company register certificate, if the company is not Italian
- Special power of attorney received or authenticated by notary, in the case of participation through a representative
Where provided for in the specific terms and conditions, additional documents will be required to supplement those mentioned above.
5. Irrevocable offer to purchase 5.1 Procedure for completing offers at the auction starting price
The combined effect of crediting the security deposit, formalizing registration for the auction—with express acceptance of the general and specific terms and conditions of sale published online at www.gobidreal.it—and the user's submission of all required supporting documentation, as specified above in section 4.2.1, shall be considered equivalent to an irrevocable offer to purchase at the price set as the starting price for each sale attempt and shall itself constitute a binding commitment to purchase on the part of the user.
This offer will 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 there are multiple participants who have formalized their irrevocable offers to purchase according to the procedures described above, and none of the bidders places a higher bid on the Platform, the highest bidder and, therefore, provisional successful bidder shall be the person who, first in chronological order:
- has completed the aforementioned procedure.
The Agent shall ensure that all bidders are informed, by any means, whether or not they are the highest bidders when the aforementioned irrevocable offer to purchase 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 with higher bids placed by any authorized user.
To be the highest bidder (and therefore the provisional successful bidder), a user must have placed the highest bid by the end of the online auction.
Clearly, if multiple participants place higher bids on 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) on 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 up to a maximum amount. This 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 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 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 will be considered valid only if submitted during the auction period.
5.3.1 Extra time If a winning bid is placed in the 5 minutes before the auction closes, the time allowed for placing another bid will be extended by a further 5 minutes from the latest bid received. This will continue in the same way for every winning bid received within the 5-minute extra-time period, until the allotted 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 considered definitively concluded.
Automatic bids placed in response to 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 be sent confirmation of the provisional award pursuant to Article 107 of the Bankruptcy Law, and will be required to make payment by the deadline established in the specific terms and conditions of sale.
The provisional award will be made to the bidder who submitted the highest bid for each lot or, if no higher bids are placed, to the bidder recognized as the first, in chronological order, to have completed the procedure for finalizing the irrevocable offer to purchase described in section 5.1.
In the event of an award, the full purchase price must be paid by bank transfer to the account in the name of the proceedings, within the deadlines established in the specific terms and conditions, failing which the award will be forfeited and the security deposit permanently lost.
The deed of sale will be executed by means of a notarized 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 commitment to purchase. If the successful bidder fails to pay the purchase price within the deadlines established in the specific terms and conditions of sale, or if the award is forfeited, the sale will automatically be deemed rescinded and the security deposit will be retained in accordance with the procedures established in the “Security deposit” section. In such cases, the award will be made successively to the next highest bidder, who must have 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, paragraph four, of the Bankruptcy Law and suspend the sale if an irrevocable offer to purchase is received that improves on the existing offer by an amount of no less than ten percent of the offered price.
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 give notice to each mortgage creditor or creditor otherwise holding a preferential claim 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 by 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 on the real estate assets offered for sale, will 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 and conditions of sale, all formalities for cancellation will 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 buyer and is referred to as the Buyer’s Premium. It will be calculated on the awarded price of the asset, according to the procedures specified in the specific terms and conditions of sale.
8. Costs The buyer shall bear the notary fees, statutory taxes, and all expenses relating to the sale, whether tax-related or otherwise. The Principal must provide details of the exact amount of the costs and an accurate breakdown as soon as possible.
The Principal must act accordingly, taking into account the tax treatment of the transaction and any tax benefits that 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 they intend to apply the reverse charge mechanism.
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 exact amount the purchaser will be required to pay in taxes can be calculated.
The successful bidder shall pay the expenses within the time limits specified in the special terms of sale.
9. Security Deposit Participation in the auction is conditional upon payment of a mandatory security deposit, as specified in the special terms 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 special terms, by credit card through the platform. Payments must be made as set out in the special terms of sale.
The security deposit must be credited before the auction ends.
For payments by bank transfer, making a BIR bank transfer (large-value transfer) is recommended.
If auction participants are not successful in purchasing any asset, the security deposit will be refunded, without interest, within 20 business days of the sale award.
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 authorization from the Principal. In this case, 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 so retained 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 payable by the purchaser.
If, following a successful bid and payment of the security deposit, the bidder fails to complete the purchase within the time limits set out in the special terms of sale, including payment of the successful bid price, the Buyer’s Premium and any additional costs, the sale will be automatically terminated and the security deposit will be retained as compensation by way of a penalty.
10. Payments The provisional successful bidder for one or more lots must comply with the special terms of the auction, which specify the deadlines for payment of both the lots awarded and the Buyer’s Premium payable, as well as any additional costs, and the applicable compensation clauses in the event of failure to comply with those terms.
All payments must be made in full exclusively by bank transfer, unless otherwise specified in the special terms. The bank details will be provided when the user receives confirmation of the provisional sale award.
If the amounts due are not paid in full within the specified time limits, the sale will be automatically terminated, in agreement with the Principal, and the security deposit will be retained as compensation by way of a penalty, with the sale award consequently forfeited.
11. Transfer of Ownership Ownership will be transferred only after full payment of the successful bid price and expenses, as provided for in the special terms of sale, by means of a notarial deed in accordance with the procedures established by the Principal, unless otherwise specified in the special terms of sale.
In the case of judicial sales, the Principal will also notify the Delegated Judge, who will in turn arrange for the cancellation of any prejudicial registrations affecting the real estate being transferred, pursuant to Article 108 of the Bankruptcy Law, as specified in Article 6.
Once the payment deadlines set out in the special terms of sale have passed, if the transfer of ownership has not been completed, the sale will be automatically terminated and the amount paid by the successful bidder as the Buyer’s Premium will be retained by the Agent as compensation by way of a penalty. The amount paid by the successful bidder as a security deposit will instead be retained in accordance with the rules set out in the Security Deposit section.
12. Warranties GOBID INTERNATIONAL AUCTION GROUP S.r.l. shall not be liable for any discrepancies or partial discrepancies between the descriptions of lots offered at auction or in advertisements published on the platform and the actual lots.
For all matters not covered by these general terms or the special terms, the provisions contained in the Terms of Use of the website
www.gobidreal.it shall apply.
The registered user acknowledges the potential objective and subjective issues arising from the use of an online auction or online advertisement 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 wilful 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 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 provided for in these general and special terms, 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 Civil Code). The assets are sold as inspected and accepted, in their actual and legal condition. In a forced sale, no warranty is provided for defects in the asset. The sale may not be challenged on the grounds of damage. (Art. 2922 of the Civil Code).
The Agent shall bear no liability with regard to the existence of third-party rights over the assets being sold (Art. 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 measurement, 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 instances of non-compliance with applicable regulations relating to the lots for sale, please refer to the attached appraisal report.
Lots are sold as inspected and accepted, in their current condition.
Inspection of the auction lots 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 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 terms, the purchaser holds GOBID INTERNATIONAL AUCTION GROUP S.r.l. and the Principal harmless from any warranty claims or claims by third parties.
In the event of any disputes concerning the interpretation of the provisions contained in the general and special terms 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 special terms and on the platform refer to the time zone indicated by the server time published on the website