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. 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, authorized to conduct auction sales 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 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: 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 sale 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: Registered User identifier
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, the attainment of which 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 the user intends 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 the auction (see 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 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, 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, indicating the dates on which they will take place 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 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, entering their personal details, and request registration for the auction, accepting its terms and conditions.
The details entered by the person when registering on the website and for the auctions will be those to which any award will be made and in whose name the property will be registered. All payments required, both before and after the sale, must be made by the registered persons. Any powers of attorney or authorizations may be considered subject to the Principal's 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 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 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 completes the registration, as 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 authorization to participate but will be required if the property is awarded)
- IF A COMPANY OR ENTITY:
- Up-to-date company register extract or certificate from 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 offer on behalf of the company and, if that person is not the legal representative, a copy of the document establishing their authority
- Copy of the tax code of the person who signed the offer
- Any duly legalized translation of the company register certificate, if the company is not Italian
- Special power of attorney received or authenticated by the 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 purchase offer 5.1 Procedure for completing offers at the auction 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 purchase offer at the price set as the starting price for each auction round and shall itself constitute a binding commitment to purchase 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 multiple participants who have formalized their irrevocable purchase offer in accordance with the procedures 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:
- 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 purchase offer is formalized.
5.2 Submission of bids to increase the starting price. Placing higher bids The offer formalized by the first bidder may be exceeded by higher bids placed by any authorized user.
To be deemed the best bidder (and therefore the provisional successful bidder), a user must have placed the highest bid by the end of the online auction.
Clearly, where 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) for sale, users will be invited to increase the price indicated in the auction (and therefore place at least one higher bid) in accordance with the following procedures:
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 shall remain the best bidder and therefore the provisional successful bidder.
The current price shall be adjusted automatically according to the predetermined bid increments, up to the amount set as the "maximum bid".
The value of a user's maximum bid (proxy bid) shall 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 in the 5 minutes before the auction closes, the time allowed to place another bid shall be extended by a further 5 minutes from the latest bid received. This shall continue in the same way for each winning bid received within the 5-minute extra-time period, until the bidding period ends.
In the event of extra time, 5 minutes must elapse without any additional bid being recorded after the latest bid received before the auction can 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 best bidders shall be sent confirmation of provisional award pursuant to Article 107 of the Bankruptcy Law, and shall be required to make payment by the deadline set out in the specific terms and conditions of sale.
The provisional award shall be made to the bidder who has 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 have completed the procedure for making an 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 set out in the specific terms and conditions, failing which the buyer shall forfeit the award and lose the security deposit permanently.
The sale deed shall be executed by 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 purchase price 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 that case, the award shall be made in succession to the next best 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 permitted by law, the Principal, in its capacity as the party responsible for the sale proceedings, may exercise the right provided for under Article 107, fourth paragraph, of the Bankruptcy Law and suspend the sale if it receives an irrevocable purchase offer that improves upon the existing offer by an amount of at least ten percent 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 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 auction round, and to inform the Delegated Judge and the Creditors' Committee of the outcome of each sale attempt, filing the relevant documentation with the Court Registry.
The Principal declares that any registrations relating to rights of first refusal, registrations of attachments and preventive seizures, and any other encumbrances affecting 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 is referred to as the Buyer’s Premium. It shall be calculated on the sale price awarded for the asset in accordance with the procedures set out in the specific terms and conditions of sale.
8. Costs The following shall be borne by the buyer: notarial fees, statutory taxes and all expenses relating to the sale, whether tax-related or otherwise. The Principal shall provide information on the exact amount of the costs and a precise breakdown of them as soon as possible.
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 it intends to apply the reverse charge mechanism.
At the end of the sale, the Agent will finally 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 it can calculate the exact amount of taxes the buyer will be required to pay.
The successful bidder must pay the expenses within the deadlines specified in the specific sale terms.
9. Security Deposit Participation in the auction is subject to payment of a mandatory security deposit, as defined in the specific sale terms.
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 sale terms.
The security deposit must be credited before the auction closes.
For payment by bank transfer, a BIR transfer (high-value bank transfer) is recommended.
If participants do not win any lots at the auction, the security deposit will be refunded, without interest, within 20 working days of the auction.
If one or more lots are won, 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, the security deposit may be retained, at the Principal’s discretion, to cover any costs attributable to the Proceedings or to cover any 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 withheld 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 specified in the specific sale terms, 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 a penalty by way of compensation.
10. Payments The provisional successful bidder for one or more lots must comply with the specific auction terms, which will 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 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 provided in the specific terms. The bank details will be provided when the user receives confirmation of the provisional award.
If payment of the amounts due is not completed within the prescribed deadlines, the sale will be automatically terminated, in agreement with the Principal, and the security deposit will be retained as a penalty by way of compensation, resulting in the 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 sale terms, by means of a notarial deed in accordance with the procedures established by the Principal, unless otherwise stated in the specific sale terms.
In the case of judicial sales, the Principal will finally notify the Delegated Judge so that the judge 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 sale terms 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 a penalty by way of compensation. 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, whether total or partial, 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 terms or the specific terms, the provisions contained in the Terms of Use of the website
www.gobidreal.it shall apply.
The registered user is aware of 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 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; unavailability of access to and/or use of www.gobidreal.it; unlawful use of www.gobidreal.it; or any event occurring after the conclusion of the auction.
For all matters not expressly covered by these general and specific 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 property is sold as seen and accepted, in its actual and legal condition. In a forced sale, no warranty is given for defects in the property. The sale may not be challenged on the grounds of damage. (Art. 2922 of the Civil Code).
The Agent shall have no liability whatsoever with regard to the existence of third-party rights over property offered for sale (Art. 2920 of the Civil Code).
The real estate is sold in the actual and legal condition in which it is found, 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 without any warranty for defects or any other deficiencies.
ILLEGAL WORKS, VIOLATIONS, ENCUMBRANCES, COMPLIANCE WITH APPLICABLE REGULATIONS
For further information regarding any illegal works, violations, encumbrances or non-compliance with applicable regulations affecting the lots for sale, please refer to the attached appraisal report.
The lots are sold as seen and accepted, in their current condition.
Viewing the lots offered at auction is strongly recommended. GOBID INTERNATIONAL AUCTION GROUP S.r.l. or the Principal accepts no responsibility for any errors, omissions or inaccuracies in photographs, descriptions or any other details stated in the auction listings or 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 terms, 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 disputes 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