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. 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 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 auction sales under License 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: 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: Online competitive sale of real estate published on
www.gobidreal.itListing: Publication of a notice concerning the sale or collection of bids/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: A user registered on www.gobidreal.it
Auction Registration: Authorization 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 to be paid to participate in the Auction.
Starting Price: Starting price of the individual lots
Reserve Price: Minimum price, upon reaching which provisional award of the lot is authorized
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 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 Lot’s award price, excluding any Buyer’s Premium payable 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 www.gobidreal.it website 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 shall apply unless otherwise stated 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 www.gobidreal.it website, indicating their dates and 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 suspend the auction or listings.
4. Participation Procedures and Submission of Bids.4.1 Listing User participation in the listing format shall 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
www.gobidreal.it website 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 authorization.
The user must pay the required security deposit by bank transfer to the bank 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 for which they intend to participate 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 stated in the Specific Terms and Conditions of sale.
In addition to payment of 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] - IF AN INDIVIDUAL:
- Copy of a valid identity document belonging to 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 completed the registration, in accordance with the procedure described in section 5.1)
- Copy of the tax code
- If the bidder is married under a 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 required for authorization to participate but will be required in the event of an award)
- IF A COMPANY OR ENTITY:
- Up-to-date company registration extract or certificate issued by the Chamber of Commerce, Industry, Crafts and Agriculture (C.C.I.A.A.)
- Copy of a valid identity document belonging to the person who submitted the bid on behalf of the company and, if that person is not the legal representative, a copy of the instrument evidencing their relevant authority
- Copy of the tax code of the person who submitted the bid
- Any duly legalized translation of the company registration certificate, if the company is not Italian
- Special power of attorney received or notarized by the notary, in case of participation through a representative
Where provided for by specific conditions, additional documents will be required and added to those mentioned above.
5. Irrevocable purchase offer 5.1 Procedure for completing offers at the starting auction 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.
Where there are several participants who have formalized their irrevocable purchase offers in accordance with the procedure described above, and none of the bidders places a higher bid on the Platform, the person who shall be deemed the highest bidder and, therefore, the provisional successful bidder shall be the first, in chronological order, to:
- complete 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 offers to increase the starting price. Placing higher bids The offer formalized 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 offer when the online auction ends.
Clearly, where several 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) being sold, 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 an offer up to a maximum amount. This is the maximum amount the user is willing to offer for each lot. The value of the proxy bid is entered manually by each bidder.
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 in accordance with 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, or open bid), offers shall 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 in the same way for every winning bid received within the 5-minute extra-time period, until the time available expires.
In the event of extra time, 5 minutes must pass without any additional offer being registered after the last bid received before the auction may 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 will receive confirmation of provisional award pursuant to Article 107 of the Bankruptcy Law, following which they must make payment by the deadline specified in the specific terms of sale.
The provisional award shall 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 held in the name of the proceedings, within the deadlines specified in the specific terms, failing which the award shall be forfeited and the security deposit permanently lost.
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).
Submitted offers are binding and constitute a formal purchase commitment. If the successful bidder fails to pay the purchase price within the deadlines specified in the specific terms of sale, or if the award is forfeited, the sale shall be automatically rescinded 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 person responsible for the sale procedure, may exercise the option provided for in Article 107, paragraph four, of the Bankruptcy Law and suspend the sale upon receiving an improved irrevocable purchase offer for an amount 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 notify each mortgage creditor or creditor 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 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 full price has been collected. Unless otherwise provided 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 specified in the specific terms of sale.
8. Costs The buyer shall bear notarial fees, statutory taxes, and all costs relating to the sale, whether tax-related or otherwise. The Principal shall provide details of the exact amount and a proper breakdown of these costs as soon as possible.
The Principal shall make the necessary arrangements in this regard, taking into account the tax treatment of the transaction and any tax benefits the buyer intends to claim. The Principal will therefore be required to verify whether the transaction is subject to VAT or registration tax and, if the relevant requirements are met, to specify whether they intend 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 they can calculate the exact amount of taxes the buyer will have to pay.
The successful bidder must pay the expenses no later than the deadlines indicated in the specific conditions of sale.
9. Security Deposit Participation in the auction is conditional upon payment of a mandatory security deposit, as defined 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, it is advisable to make a BIR transfer (high-value bank transfer).
If participants do not win any lots at the auction, the security deposit will be refunded within 20 business days of the award, without interest.
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, as well as any other services provided by the Agent.
If the security deposit is paid by credit card, it will be charged to the Agent’s current account, and the Agent will 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 due from the buyer.
If, after paying the security deposit, the bidder fails to complete the purchase within the deadlines established in the specific conditions of sale, including payment of both the winning bid price and the Buyer’s Premium and any additional charges, the sale will be automatically rescinded 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 conditions of the auction, which set out the deadlines for payment of both the lots won and the Buyer’s Premium due, as well as any additional charges, and the applicable compensation clauses in the event of failure to comply with those conditions.
All payments must be made in full and 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 by the established deadlines, the sale will be automatically rescinded in agreement with the Principal, and the security deposit will be retained as liquidated damages, resulting in forfeiture of the award.
11. Transfer of Ownership Ownership will be transferred only after full payment of the winning bid 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 judicial sales, the Principal will also notify the delegated judge so that they may arrange for the cancellation of any prejudicial registrations on the real estate being transferred, pursuant to Article 108 of the Bankruptcy Law, as indicated in Article 6.
Once the payment deadlines set out in the specific conditions of sale have passed, if the transfer of ownership has not been completed, the sale will be automatically rescinded 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 rules set out in the Security Deposit section.
12. Warranties GOBID INTERNATIONAL AUCTION GROUP S.r.l. is not responsible for any discrepancies or partial discrepancies 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 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 listing 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 direct and/or indirect damage or liability, except in cases of its own willful misconduct or gross negligence. 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; inability to view and/or use www.gobidreal.it; unlawful use of www.gobidreal.it; or any event occurring after the auction has concluded.
For all matters not expressly provided for in 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 seen and accepted, in its actual and legal condition. In a forced sale, no warranty is provided for 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 with regard to the existence of third-party rights over the property being sold (Art. 2920 of the Italian 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 by the property as a whole and not by unit of measurement, and is made 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 non-compliance with applicable regulations affecting the lots for sale, please refer to the attached appraisal.
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 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 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 dispute concerning the interpretation of the provisions contained in the general and specific conditions published on the platform, including any translations 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