GENERAL TERMS AND CONDITIONSTable of Contents: · Art. 1. Definitions
· Art. 2. Applicability
· Art. 3. Publication and conduct of auctions and listings
· Art. 4. Participation 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. and 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 person responsible for the Proceedings
Agent:GOBID INTERNATIONAL AUCTION GROUP S.r.l.
Proceedings:Insolvency proceedings declared by the Court or a sale assignment granted by private individuals
Auction: Competitive online sale of real estate published on
www.gobidreal.itListing: Publication of a notice concerning the sale or the collection of bids/expressions of interest for 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 a Registered User to participate in a specific
AuctionBidder Number: Identification number 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 each individual lot
Reserve Price: Minimum price which, if 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 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 the Extra Time section)
Provisional Award: Notification 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 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 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 concerning the auction or listing and the lots.
These terms and conditions apply unless otherwise stated 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 www.gobidreal.it website, indicating their dates, 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 suspend the auction or listings.
4. Participation and submission of bids.4.1 Listing User 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 and request registration for the auction, accepting its terms and conditions.
The details entered by the user when registering on the website and for the auctions will be the details to which any award will be made 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 authorisations may be considered subject to the Principal's prior approval.
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 they intend to participate in and submit a copy of the bank transfer receipt at the same time to
[email protected] The 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 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 will be registered (the property cannot be registered in the name of anyone other than the person 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 statutory 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 if the property is awarded)
- IF A COMPANY OR ORGANISATION:
- Up-to-date company registration certificate or certificate issued by the Chamber of Commerce, Industry, Crafts and Agriculture
- 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 establishing their relevant 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 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 purchase offer 5.1 Procedure for completing offers 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 submitting 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 commitment to purchase by the user.
This 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 there are several participants who have formalised their irrevocable purchase offer as described above, and none of the bidders places a higher bid on the Platform, the person who, first in chronological order:
- has completed 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 outbid by higher bids placed by any authorised user.
Any user wishing 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 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 shown in the auction (and therefore place at least one higher bid) as follows:
5.2.1 Static bid A “static bid” is 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. This is the maximum amount the user is willing to offer for each lot. Each bidder enters the proxy bid amount manually.
Until the maximum bid placed by the user is exceeded by a higher bid, 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 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 during the 5-minute extra-time period, until the time available has elapsed.
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 higher bids in the case of a maximum bid (proxy bid) shall also be considered winning bids.
5.4. Awarding of lots At the end of each auction process, following a review phase, the highest bidders shall receive confirmation of provisional award pursuant to Article 107 of the Bankruptcy Law, and shall be required to make payment by the deadline specified in the specific terms and conditions of sale.
The provisional award shall be made to the bidder who submitted the highest bid 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 formalising 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 of the proceedings within the deadlines specified in the specific terms and conditions, failing which the award shall be forfeited and the security deposit definitively lost.
The sale shall be completed by means of a notarised 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 specified in the specific terms and conditions of sale, or if the award is revoked, 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 case, the award shall be made successively to the next highest bidder who has 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 permitted by law, the Principal, in its capacity as the party responsible for the sale procedure, may exercise the option provided for in Article 107, fourth paragraph, of the Bankruptcy Law and suspend the sale if it receives an improved irrevocable purchase offer for an amount at least ten percent higher than 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 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 rights of pre-emption, registrations of attachments and precautionary seizures, and any other encumbrances on the real estate put up 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 received. 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 is referred to as the Buyer’s Premium. It shall be calculated on the awarded price of the asset, in accordance with the procedures set out in the specific terms and 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 must provide information on the exact amount of the costs and a correct breakdown of them as soon as possible.
The Principal shall act accordingly, taking into account the tax treatment of the transaction and any tax benefits 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.
At the end of the sale, the Agent will 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 must pay the expenses within the time limits 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 ends.
For payment by bank transfer, a BIR transfer (large-amount bank transfer) is recommended.
If auction participants do not win any lots, 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 purchaser 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, the deposit will be charged to the Agent's bank account, and the Agent will refund the amount withheld in this way in accordance with the procedures described above.
If the purchaser 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 purchaser.
If, after paying the security deposit and winning a lot, the bidder fails to complete the purchase within the time limits set out in the specific conditions of sale, including payment of the winning bid price, the Buyer’s Premium and any additional costs, 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 auction conditions, which specify the deadlines for payment of both the lots won and the Buyer’s Premium due, as well as any additional costs, and the corresponding 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 specified deadlines, the sale will be automatically terminated, in agreement with the Principal, and the security deposit will be retained as liquidated damages, with the award consequently being revoked.
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 notarized 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 will also notify the Delegated Judge so that the Judge may cancel any adverse registrations on the properties 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 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 rules set out in the Security Deposit section.
12. Warranties GOBID INTERNATIONAL AUCTION GROUP S.r.l. is not responsible for any discrepancy, whether partial or complete, between the descriptions of the lots listed for 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 of 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 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 any 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 www.gobidreal.it for viewing and/or use; 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 (Article 2919 of the Italian Civil Code). The properties are sold as seen and accepted, in their actual and legal condition as they stand. In a forced sale, there is no warranty against defects in the property. The sale may not be contested on the grounds of damage (Article 2922 of the Italian Civil Code).
The Agent shall not be liable for the existence of any third-party rights over the assets being sold (Article 2920 of the Italian Civil Code).
The real estate is sold in its actual and legal condition as it stands, together with all appurtenances, accessions, rights and claims, and active and passive easements. The sale is of the property as a whole, 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 failures to comply with applicable regulations relating to 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 listed for 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 for the auction or in advertisements. For this reason, viewing 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 purchaser releases GOBID INTERNATIONAL AUCTION GROUP S.r.l. and the Principal 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 conditions displayed 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