GENERAL TERMS AND CONDITIONSTable of Contents: · Art. 1. Definitions
· Art. 2. Applicability
· Art. 3. Publication and conduct of auctions and announcements
· Art. 4. Methods of participation 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. Guarantees
Art.1 Definitions: GOBID INTERNATIONAL AUCTION GROUP S.r.l.: Owner and manager of the online auction website http://www.gobidreal.it, headquartered in Milan, Via P.O. Vigliani, 19, VAT - Tax Code 09441470961, authorized for auction sales with License issued by the Questore of Milan no. 13/2008 of 9/04/2008.
gobidreal.it: Registered trademark owned by GOBID INTERNATIONAL AUCTION GROUP S.r.l.
www.gobidreal.it: The website managed by GOBID INTERNATIONAL AUCTION GROUP S.r.l. for the sale of real estate on behalf of the Principal.
Principal: Responsible for the Procedure
Agent:GOBID INTERNATIONAL AUCTION GROUP S.r.l.
Procedure:insolvency procedure declared by the Court or sales assignment given by private individuals
Auction: Competitive online sale of real estate published on
www.gobidreal.itAnnouncement: Publication of a notice regarding the sale or collection of offers/expressions of interest on real estate published on
www.gobidreal.itLot: Asset or set of assets present, subject to Auction or Announcement
Registered user: User registered on www.gobidreal.it
Auction registration: Authorization requested by the registered user to participate in the individual
AuctionBidder Number: Identifier of the registered User
General Conditions: these terms and conditions
Specific Conditions: Specific terms and conditions of the Auction
Deposit: Amount to be paid for participation in the Auction.
Base Price: Starting price of the individual lots
Reserve price: Minimum price the achievement of which authorizes the provisional award of the lot
Current price: Current price of the Lot, resulting from the bid(s) made 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 increment: Pre-established amount added to the current price necessary to formalize the static bid.
Extra-time : Extension of the useful time to place bids in the auction (see Extra-time section)
Provisional award: Communication addressed to the highest bidder by GOBID INTERNATIONAL AUCTION GROUP S.r.l.
Award price: Award amount of the lot, net of any Buyer’s Premium due and any additional tax and non-tax charges
Buyer's Premium: Compensation due to the agent calculated on the taxable amount of the award price
2. Applicability: These conditions apply to the use of the website www.gobidreal.it and, in particular, to the publication and conduct of auctions and announcements, as well as to the terms and conditions of user participation.
2.1. Specific Conditions For each auction or announcement, where provided, the Specific Conditions will be published, indicating all specific information relating to the auction or the announcement itself and the lots.
These conditions are applicable unless otherwise indicated by the Specific Conditions of each individual auction or announcement.
3. Publication and conduct of auctions and announcements Auctions and announcements will be published on the website www.gobidreal.it indicating the dates of conduct and the lots present and, where provided, 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 announcements.
4. Methods of Participation and Submission of Bids.4.1 Announcement The user's participation in the announcement mode will be governed by the specific conditions, where present.
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 data, request registration for the auction, accepting its terms and conditions.
The data entered by the subject during registration on the website and for auctions will be the same as those to which the award will eventually be attributed and to which the property will be registered. All requested payments, prior to and following the sale, must be made by the registered subjects. Any powers of attorney or delegations may be considered subject to authorization by the Principal.
The user must pay the required security deposit by bank transfer to the current account specified in the specific conditions of sale and on the registration page.
Where indicated in the specific conditions of sale, the deposit may be paid online by credit card.
The user is required to specify the auction number for which they intend to participate and simultaneously send a copy of the bank transfer receipt to the address
[email protected] The deposit must be credited before the end of the auction, unless otherwise indicated in the specific conditions of sale.
In addition to crediting the security deposit, the user, to be enabled to participate in the auction, must provide the following documents by uploading them in the "My Documents" section or by sending them to the address
[email protected] - IF A NATURAL PERSON:
- Copy of a valid identity document of the person to whom the property will be registered (it will not be possible to register the property to a person other than the one who signs the registration, according to the procedure described in point 5.1)
- Copy of the tax code
- If the bidder is married under a legal community property regime, the corresponding data of the spouse must also be indicated, with the sending of a copy of their identity document (document not binding for enabling but required in case of award)
- IF A COMPANY OR ENTITY:
- Updated chamber of commerce report or C.C.I.A.A. certificate
- Copy of a valid identity document of the person who signed the bid on behalf of the company and, if different from the legal representative, a copy of the document showing the relevant powers
- Copy of the tax code of the person who signed the bid
- Any duly legalized translation of the chamber of commerce 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 conditions, further documents will be required which will supplement those mentioned above.
5. Irrevocable purchase offer 5.1 Procedure for finalizing bids at the auction base price
The combined effect of the crediting of the security deposit, the formalization of registration for the auction – with express acceptance of the general and specific conditions of sale, published online at www.gobidreal.it – and the sending by the user of all the requested supporting documentation, as specified above in point 4.2.1, shall be considered equivalent to an irrevocable purchase offer at the price set as the auction base price for each sale attempt and shall constitute, in itself, a binding purchase commitment on the part of the user.
Such offer will be formalized on the platform directly by the Mandatary by means of an online bid, on behalf of the first user who has completed the finalization procedure described above.
Where there are multiple participants who have formalized their irrevocable purchase offer, according to the procedures described above, and none of the bidders makes an overbid on the Platform, the best bidder and therefore provisional successful bidder will be the one who, first, in chronological order:
- has carried out the aforementioned procedure.
The Mandatary shall take care to inform all bidders by any means whether or not they are the best bidders at the time of formalization of the aforementioned irrevocable purchase offer.
5.2 Submission of bids for increase of the base price. Formulation of overbids The offer, formalized by the first bidder, may be exceeded by bids of a higher amount, placed by any enabled user.
The user who wishes to be the best bidder (and therefore provisional successful bidder) must have placed the highest bid at the end of the online auction.
Clearly, where there are multiple participants who make overbids on the offer at the auction base price, the user recognized as "first bidder" may also compete for the award of the lots by making overbids on the current price.
In order to be awarded the lot(s) on sale, users will be invited to increase the price indicated in the auction (and therefore to make at least one overbid) according to the following methods:
5.2.1 Static bid By "static bid" is meant a bid at the price published online, plus a predetermined minimum overbid.
5.2.2 Maximum bid (Proxy Bid):
By "proxy bid" is meant a maximum-amount bid. It corresponds to the maximum figure 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-amount bid, that same user will be the best bidder and therefore provisional successful bidder.
The current price will automatically adjust based on the amount of the predetermined overbids, until reaching the value set as "maximum bid".
The value of the maximum bid (proxy bid) placed by a user will not be visible to other users.
5.3. Validity of bids In any case (static bid – maximum bid – free bid), bids will be considered valid only if submitted within the time period of the auction.
5.3.1 Extra time If a winning bid is placed in the 5 minutes preceding the close of the auction, the time available to place another bid will be extended by a further 5 minutes from the last bid received. And so on, for each bid winning received within 5 minutes of extra time, until the end of the allowed time.
In case of extra time, 5 minutes must pass without any additional offer being registered from the last bid received, before the auction can be definitively concluded.
Automatic bids in case of maximum offer (proxy bid) will also be considered winning offers.
5.4. Awarding of lots At the end of each auction solution, following an investigative phase, the best bidders will be sent a confirmation of provisional award pursuant to art. 107 of the Bankruptcy Law, against which they will be required to make payments by the deadline set in the specific conditions of sale.
The provisional award will be attributed to the bidder who has submitted the highest offer for each lot, or, in the absence of further bids, to the bidder who is recognized as the first, in order of time, to have completed the process of finalizing the irrevocable purchase offer, described in point 5.1.
In case of award, the sale price must be paid in full by bank transfer made out to the procedure within the terms established in the specific conditions, under penalty of forfeiture and definitive loss of the deposit.
The deed of sale will be stipulated by notarial deed according to the methods established by the Principal (described in point 11, Transfer of ownership)
The offers submitted are binding and constitute a formal commitment to purchase. If the successful bidder does not pay the consideration within the terms established in the specific conditions of sale, or if the award should lapse, the sale will be automatically terminated and the deposit will be retained, according to the methods established in the section "Security Deposit". In such case, the award will be attributed successively, in favor of the next highest bidder, who has completed the procedure described in point 5.1 or made a bid, based on what is illustrated in point 5.2.
5.5 Other provisions Where required by law, the Principal, as responsible for the sale procedure, may exercise the power provided by art. 107 fourth paragraph of the Bankruptcy Law, and suspend the sale in case of receipt of an irrevocable purchase offer that is better by an amount not less than ten percent of the offered price
In any case, 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 art. 107 of the Bankruptcy Law, the Principal undertakes to give notice by notification to each of the mortgage creditors or otherwise holders of a privilege at least 20 days before the date set for the conclusion of each sale attempt, as well as 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 preemption, transcriptions of foreclosures and conservatory seizures and any other encumbrance on the real estate put up for sale, will be cancelled pursuant to art. 108 of the Bankruptcy Law once the sale is executed and the price is fully collected. Unless otherwise provided in the specific conditions of sale, all formalities for cancellation will be carried out at the care and expense of the successful bidder.
7. Buyer’s Premium
The compensation due to the Mandatary will be exclusively borne by the buyer and indicated with the wording Buyer’s Premium. It will be calculated on the award amount of the asset, according to the methods indicated in the specific conditions of sale.
8. Charges The notarial charges, legal taxes and all expenses related to the sale, fiscal and non-fiscal, will be borne by the buyer. Communication regarding the exact amount of charges and their correct specification must be made by the Principal as soon as possible.
The Principal must provide in this sense, taking into account the tax treatment of the transaction and any reliefs/incentives that the purchaser intends to use. The Principal shall therefore be required to verify whether the transaction is subject to VAT or registration tax and to specify, if the conditions are met, whether it intends to apply the reverse charge.
At the end of the sale, the Agent shall lastly ask the successful bidder whether it intends to use the first-home benefit or another tax benefit and inform the Principal accordingly, so that the latter may calculate the exact amount that the purchaser will be required to pay in taxes.
The successful bidder must pay the expenses no later than the deadlines set out in the specific sale conditions.
9. Security deposit Participation in the auction is conditional upon payment of a mandatory security deposit defined in the specific sale conditions.
Before being enabled to participate in the auction, participants must pay the above amount 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 sale conditions.
The deposit must be credited strictly before the auction deadline.
For payment by bank transfer, it is recommended to make a BIR-type transfer (bank transfer of relevant amount)
If auction participants do not win any asset, the deposit will be returned within 20 business days of the award, without interest.
In the event of award of one or more lots, the security deposit will be returned after the purchaser has completed the transfer of ownership of the real estate purchased at auction by notarial deed, subject to authorization provided by the Principal. In such case, the security deposit may be retained both to cover any charges attributable to the Procedure, at the Principal's discretion, and to cover any other services provided by the Agent.
If the security deposit is paid by credit card, the deposit will be collected into the Agent's current account, which will return the amount so retained in the manner described above.
If the purchaser wins at least one lot at auction, the Agent may, in agreement with the Principal, deduct the deposit from the total amount owed by the purchaser.
If, in the event of award, after paying the deposit, the bidder does not complete the purchase within the deadlines set out in the specific sale conditions, whether as regards the award price, Buyer's Premium or any additional charges, the sale shall be automatically terminated and the deposit shall be retained as a compensatory penalty.
10. Payments The provisional successful bidder of one or more lots must comply with the specific auction conditions, which will specify the deadlines for payment of both the awarded lots and the Buyer's Premium due and additional charges, as well as the relevant compensation clauses in the event of non-compliance with the aforesaid conditions.
All payments must be made in full exclusively by bank transfer, unless otherwise provided in the specific conditions. The details will be specified upon the user's receipt of the confirmation of provisional award.
In the event that payment of the amounts due is not completed within the established deadlines, in agreement with the Principal, the sale shall be automatically terminated and the security deposit shall be retained as a compensatory penalty, with consequent forfeiture of the award.
11. Transfer of ownership The transfer of ownership will take place only after full payment of the award price and expenses, as provided for in the specific sale conditions, by notarial deed in accordance with the procedures established by the Principal, unless otherwise indicated in the specific sale conditions.
In the event of sales Judicial, the Principal shall, finally, undertake to notify the Delegated Judge so that the latter in turn arranges for the cancellation of the adverse registrations on the properties subject to transfer pursuant to Art. 108 of the Bankruptcy Law, as indicated in Art. 6.
After the deadlines provided for the payments set out in the specific conditions of sale have elapsed, in the event of failure to complete the transfer of ownership, the sale shall be automatically terminated and the amount paid by the successful bidder as Buyer’s Premium shall be retained by the Agent as liquidated damages. The amount paid by the successful bidder as a security deposit shall, however, 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 the failure or partial correspondence of the descriptions of the lots present in the auction or in the advertisements published on the platform.
For all matters not provided for in these general conditions or in the specific conditions, the provisions contained in the Terms of Use of the website
www.gobidreal.it shall apply.
The registered user is aware of the possible issues, both objective and subjective, arising from the use of an online auction or online advertisement conducted via the internet, for which GOBID INTERNATIONAL AUCTION GROUP S.r.l. cannot be held liable.
GOBID INTERNATIONAL AUCTION GROUP S.r.l. is not liable for direct and/or indirect damage or liability except in the case of its willful misconduct or gross negligence. Under no circumstances GOBID INTERNATIONAL AUCTION GROUP S.r.l. shall be liable for: direct actions of the user that may cause damage or malfunction to the system, unavailability of display and/or use of www.gobidreal.it, unlawful use of www.gobidreal.it, any event after the conclusion of the auction.
For all matters not expressly provided for in these general and specific conditions, reference is made to the rules of the Italian Code of Civil Procedure and the Bankruptcy Law.
The sale of real estate is deemed forced (Art. 2919 of the Italian Civil Code). It is ordered for the goods seen and approved in the factual and legal state in which they are found. In a forced sale, the warranty for defects of the thing does not apply. It cannot be challenged on grounds of damages. (Art. 2922 of the Italian Civil Code).
Any liability on the part of the Agent regarding the existence of third-party rights over the goods subject to the sale is excluded (Art. 2920 of the Italian Civil Code).
The sale of real estate takes place in the factual and legal state in which they are found, with all any appurtenances, accretions, claims and actions, active and passive easements. The sale is as a whole and not by measure, and without any warranty for defects or other lack.
ABUSES, VIOLATIONS, ENCUMBRANCES, COMPLIANCE WITH APPLICABLE REGULATIONS
For further information regarding any abuses, violations, encumbrances or non-compliance with applicable regulations of the lots for sale, reference is made to the attached appraisal.
The lots are sold seen and approved in the state in which they are found.
Viewing of the lots in the auction is strongly recommended, GOBID INTERNATIONAL AUCTION GROUP S.r.l. or the Principal decline all liability for any errors, omissions and inaccuracies in the photos, descriptions and any other detail indicated in the auction or in the advertisements, for this reason viewing of the lots is strongly recommended in order to verify the actual condition of the goods in the auction. No warranty is given by GOBID INTERNATIONAL AUCTION GROUP S.r.l. or by the Principal
By accepting these conditions, the purchaser indemnifies GOBID INTERNATIONAL AUCTION GROUP S.r.l. and the Principal from any warranty or third-party claim.
In the event of any disputes arising regarding the interpretation of the provisions contained in the general and specific conditions set out on the platform, possibly translated into other languages, the Italian version of the text shall prevail.
Where not specified, the times indicated in the specific conditions and on the platform refer to the time zone indicated in the server time published on the site