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. 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 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 engagement granted by 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 sale engagement 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: 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 in order to participate in the Auction.
Starting Price: Starting price of the individual lots
Reserve Price: Minimum price which, if reached, 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 that the user is willing 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 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, stating the dates on which they will take place 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 User 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 user when registering on the website and for the auctions will be those to which the award may 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 users. Any powers of attorney or authorizations may be considered subject to the Principal's prior approval.
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 closes, unless otherwise specified in the Specific Terms and Conditions of sale.
In addition to paying the security deposit, in order to be authorized 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 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 completes the registration, as described in point 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 authorization but will be required if the property is awarded)
- IF A COMPANY or OTHER ENTITY:
- Up-to-date company registry search or Chamber of Commerce certificate
- Copy of a valid identity document belonging to 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 legalized translation of the company registry certificate, if the company is not Italian
- Special power of attorney received or authenticated bynotary, in the event of participation through a representative
Where provided for in the 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 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 supporting documentation required, 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 by 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 several participants who have formalized their irrevocable offer to purchase in the manner described above, and none of the bidders places a further bid on the Platform, the best bidder and therefore the provisional successful bidder shall be the person who, first in chronological order:
- has completed the aforementioned procedure.
The Agent shall inform all bidders, by any means, whether or not they are the best bidders when the aforementioned irrevocable offer to purchase is formalized.
5.2 Submission of bids to increase the starting price. Placing further bids The offer formalized by the first bidder may be exceeded by higher bids placed by any authorized user.
To be recognized as the best bidder (and therefore the provisional successful bidder), a user must have placed the highest bid by the end of the online auction.
Of course, if several participants place further 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 further 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 further 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. This is the maximum amount that the user is willing to offer for each lot. The value of the proxy bid is entered manually by each bidder.
Until the maximum bid placed by the user is exceeded by a higher bid, that user will remain the best bidder and therefore the provisional successful bidder.
The current price will automatically be adjusted in accordance with the predetermined bid increments, up to the value 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 bids In all cases (static bid – maximum bid – free bid), bids will 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 preceding the auction's closing time, 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 available 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 can be considered definitively closed.
Automatic increments 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 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 further bids have been placed, to the bidder recognized as the first in chronological order to complete 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 held in the name of the proceedings, within the deadlines established in the specific terms and conditions, failing which the successful bidder will forfeit the award and the security deposit permanently.
The sale deed will be executed by notarial deed in accordance with the arrangements 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 consideration within the deadlines established in the specific terms and conditions 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 arrangements set out in the "Security deposit" section. In such case, the award will pass successively to the next highest bidder who has completed the procedure described in section 5.1 or placed a further bid, as set out 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 if a higher irrevocable offer to purchase is received for an amount not 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 other secured creditor 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, transcriptions of attachments and preventive 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 has been 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 responsibility.
7. Buyer's Premium
The fee due to the Agent shall be payable exclusively by the purchaser and shall be indicated as the Buyer's Premium. It shall be calculated on the awarded price of the asset, in accordance with the arrangements set out in the specific terms and conditions of sale.
8. Expenses The purchaser shall bear the notarial fees, statutory taxes, and all expenses relating to the sale, whether tax-related or otherwise. The Principal shall communicate the exact amount of the expenses and provide an accurate breakdown as soon as possible.
The Principal shall act accordingly, taking into account thetax 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 requirements are met, to specify whether it intends to apply the reverse charge mechanism.
At the end of the sale, the Agent will 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 it can calculate the exact amount of taxes the buyer will be required to pay.
The successful bidder must pay the expenses no later than the deadlines specified in the specific terms of sale.
9. Security Deposit Participation in the auction is conditional upon payment of a mandatory security deposit, the amount of which is specified in the specific 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 specific terms, by credit card through the platform. Payments must be made as set out in the specific terms of sale.
The security deposit must be credited before the auction closes.
For payments by bank transfer, a BIR transfer (high-value bank transfer) is recommended.
If participants do not win any items at the auction, 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 notarized 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 collected into the Agent’s bank account, and the Agent will refund the amount retained in this way 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 terms of sale, including payment of the winning bid price, the Buyer’s Premium and any additional charges, the sale will be automatically terminated 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 terms of the auction, which specify the deadlines for payment both of the lots won and of 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 terms.
All payments must be made in full exclusively by bank transfer, unless otherwise specified in the specific terms. 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 terminated in agreement with the Principal, and the security deposit will be retained as liquidated damages, resulting in the award being forfeited.
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 terms of sale, by means of a notarized deed and in accordance with the procedures established by the Principal, unless otherwise specified in the specific terms of sale.
In the case of court-ordered 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 Art. 108 of the Bankruptcy Law, as specified in Art. 6.
Once the payment deadlines set out in the specific terms of sale have passed, if the transfer of ownership is not 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 liquidated damages. The amount paid by the successful bidder as a security deposit will instead be retained in accordance with the provisions of 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.
For all matters not covered by these general terms or the specific 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 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 willful 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; the unavailability of or 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 terms, reference is made to the provisions of the c.p.c. 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 current factual and legal condition. In a forced sale, no warranty is given for defects in the property. The sale cannot be challenged on grounds of damage. (Art. 2922 of the Italian Civil Code).
The Agent shall have no liability with regard to the existence of third-party rights over property being sold (Art. 2920 of the Italian Civil Code).
The real estate is sold in its current factual and legal condition, together with all appurtenances, fixtures, rights and actions, and active and passive easements. The sale is of the property as a whole and not by measurement, and is made 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 non-compliance with applicable regulations affecting 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. or 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 items offered at auction. No warranty is given by GOBID INTERNATIONAL AUCTION GROUP S.r.l. or the Principal.
By accepting these terms, the buyer releases GOBID INTERNATIONAL AUCTION GROUP S.r.l. and the Principal from any warranty obligations or third-party claims.
In the event of any dispute concerning the interpretation of the provisions contained in the general and specific terms 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 terms and on the platform refer to the time zone indicated by the server time published on the website