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. 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 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: Person responsible for the proceedings
Agent: GOBID INTERNATIONAL AUCTION GROUP S.r.l.
Proceedings: insolvency proceedings declared by the 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 collection of offers/expressions of interest in real estate, published on
www.gobidreal.itLot: An asset or group of assets offered for auction or included in a listing
Registered User: User registered on www.gobidreal.it
Auction Registration: Authorisation requested by the Registered User to participate in an individual
AuctionBidder Number: Registered User identification number
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 each lot
Reserve Price: Minimum price, when reached, authorising 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 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 for which the lot is awarded, excluding any Buyer’s Premium due and any additional tax and 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 information specific to the auction or listing and its lots.
These terms and conditions apply unless otherwise provided 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, 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 interrupt the auction or listings.
4. Participation Procedures and Submission of Bids.4.1 Listing The user's participation in a listing 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 to which any award will be made and in whose name the property will be registered. All required payments, both before and after the sale, must be made by the registered persons. 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 submit a copy of the bank transfer receipt at the same time 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 will be registered (the property may not be registered in the name of a person other than the person who signs the registration, in accordance with the procedure described in section 5.1)
- Copy of their tax code
- If the bidder is married under the statutory community property regime, the corresponding details of their spouse must also be provided, along 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 ORGANISATION:
- 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 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 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 received or authenticated by notary, in the event of participation through a representative
Where provided for by specific terms and conditions, additional documents will be required and added to those mentioned above.
5. Irrevocable offer to purchase 5.1 Procedure for completing bids 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 and conditions 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 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 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.
Where there are several participants who have completed their irrevocable offers to purchase in the manner described above, and none of the bidders places a higher bid on the Platform, the best bidder and, therefore, 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 best bidders upon submission of the aforementioned irrevocable offer to purchase.
5.2 Submission of bids to increase the starting price. Placing higher bids The offer placed for the first bidder may be outbid by higher bids placed by any authorized user.
To be the best bidder (and therefore the provisional successful bidder), a user must have placed the highest bid at the end of the online auction.
Clearly, where several participants place higher bids on the starting price, the user identified 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 displayed 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 bid, that user will remain the best bidder and, therefore, the provisional successful bidder.
The current price will automatically adjust in line with 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 during the 5 minutes before the auction closes, the time available to place another bid will be extended by a further 5 minutes from the latest bid received. This will continue for every winning bid received within the 5-minute extra-time period, until the available time expires.
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 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 best bidders will be sent confirmation of provisional award pursuant to Article 107 of the Bankruptcy Law, and will be required to make payment by the deadline set out 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 were placed, to the bidder recognized as the first in chronological order to have completed the procedure for submitting an 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 set out in the specific terms and conditions, failing which the successful bidder will forfeit their right to the award and permanently lose the security deposit.
The sale will be completed by means of a 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 commitment to purchase. If the successful bidder fails to pay the amount due within the deadlines set out in the specific terms and conditions of sale, or if the award is revoked, the sale shall automatically be deemed terminated 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 be made successively to the next best bidder, who must have completed the procedure described in section 5.1 or placed a higher bid as described in 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, fourth paragraph, of the Bankruptcy Law and suspend the sale upon receiving an improved irrevocable offer to purchase for an amount no less than ten per cent 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 PrincipalPursuant to Article 107 of the Bankruptcy Law, the Principal undertakes to notify 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 pre-emption rights, recorded 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 in the specific terms and conditions 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 buyer and shall be indicated 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 and conditions of sale.
8. Costs The buyer shall be responsible for notary fees, statutory taxes, and all expenses relating to the sale, whether tax-related or otherwise. The Principal shall provide, as soon as possible, information on the exact amount of the costs and a correct breakdown of them.
The Principal shall take the necessary steps 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, where the relevant conditions 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 tax benefit or another tax benefit, and will inform the Principal accordingly so that the exact amount the buyer will be required to pay in taxes can be calculated.
The successful bidder must pay the expenses no later than 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 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 bank transfer (large-value 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 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, the deposit 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 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 specified in the specific conditions of sale, including payment of the winning bid price, the Buyer’s Premium and any additional charges, 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 auction conditions, which specify the deadlines for payment of both the lots awarded and the Buyer’s Premium due, as well as any additional charges 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 provided 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 specified deadlines, the sale will be automatically rescinded, in agreement with the Principal, and the security deposit will be retained as a compensatory penalty, with the award consequently being revoked.
11. Transfer of Ownership Ownership will be transferred only after the award price and expenses have been paid in full, 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 the Judge may arrange for the cancellation of adverse registrations against the real estate being transferred pursuant to Article 108 of the Bankruptcy Law, as specified in Article 6.
If, after the payment deadlines set out in the specific conditions of sale have expired, 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 a compensatory penalty. 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 lots listed 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 Terms of Use at
www.gobidreal.it shall apply.
The registered user acknowledges that objective and subjective issues may arise from using 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; 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 covered by 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 as it stands. In a forced sale, no warranty against defects applies. The sale cannot be challenged on grounds of damage (Article 2922 of the Civil Code).
The Agent shall have no liability whatsoever with regard to 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 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 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 concerning the lots for sale, please refer to the attached appraisal.
The lots are sold as seen and accepted in their current condition.
Viewing the lots 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, viewing the lots is strongly recommended in order to verify the actual condition of the property being auctioned. No warranty is given by GOBID INTERNATIONAL AUCTION GROUP S.r.l. or the Principal.
By accepting these conditions, the buyer 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 set out 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