GENERAL TERMS AND CONDITIONS

This is a collection of irrevocable purchase offers concerning the lots published on the platform www.gobidreal.it.
Please note that the irrevocable purchase offers covered by this collection do not impose on the PRINCIPAL any obligation or commitment to sell, nor any liability for any brokerage or consultancy fees (other than those arising from the engagement conferred on the AGENT), and do not constitute invitations to make offers, offers to the public ex Art. 1336 of the Italian Civil Code, or solicitations of public savings ex Art. 94 et seq. of Legislative Decree 58/1998.
For the rules governing participation and all information relating to the aforementioned collection, please refer to the specific terms and conditions published on the platform www.gobidreal.it.

Table of Contents:
 
·         Art. 1. Definitions
·         Art. 2. Applicability
·         Art. 3. Publication and conduct of auctions and listings
·         Art. 4. How to participate and submit offers
·         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. 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 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 under an engagement conferred by 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 engagement conferred by private individuals
Auction: Competitive online sale of real estate published on www.gobidreal.it
Listing: Publication of a notice relating to the sale or collection of offers/expressions of interest for real estate, published on www.gobidreal.it
Lot: 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 Auction
Bidder Number: Identifier of the Registered User
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 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) 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 in order to place a static bid.
Extra time : Extension of the time available to place 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 payable 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 itself 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 interrupt the auction or listings.
 
 
4. How to Participate and Submit Offers.

4.1 Listing 
 
The user's participation in the listing process will be governed by the specific terms and conditions, where available.
 
4.2 Online Auction

4.2.1 Registration process

To participate in the sale, the user must register on the website www.gobidreal.it by entering 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 the same details 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 users. 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 paying the security deposit, in order to be authorized 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 for 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 submits 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 corresponding details of their spouse must also be provided, together with a copy of their identity document (this document is not required for authorization but will be required in the event of award)



-       IF COMPANIES or ENTITIES:
 
-       Updated company registration certificate or Chamber of Commerce certificate
-       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 showing the relevant powers 
-       Copy of the tax code of the person who signed the offer
-       Any duly legalized translation of the company registration certificate, if the company is not Italian
-       Special power of attorney received or authenticated by a notary, in the event of participation through a representative   

 
Where required by specific conditions, additional documents will be requested to supplement 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, formalizing registration for the auction—with express acceptance of the general and specific terms 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 considered equivalent to an irrevocable purchase offer at the price set as the auction starting price for each sale attempt and shall itself constitute a binding commitment to purchase on the part of the user.
 
That 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.
           
If several participants have formalized their irrevocable purchase offers in the manner described above, and none of the bidders places a higher bid on the Platform, the person deemed to be the highest 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 highest 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 for the first bidder may be outbid by higher bids placed by any authorized user.
 
To be deemed the highest bidder (and therefore the provisional successful bidder), a user must have placed the highest bid at the end of the online auction.
 
Clearly, if several participants place higher 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 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) 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 the user is willing to offer for each lot. Each bidder manually enters the value of their proxy bid.
 
Until the user's maximum bid is exceeded by a higher offer, 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, until it reaches the amount 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—open bid), bids shall be considered 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 available to place another bid will be extended by a further 5 minutes from the last bid received. This extension will continue in the same way for every winning bid received within the 5-minute extra-time period, until the bidding period ends.
 
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 concluded.
 
Automatic higher 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 highest bidders will be sent confirmation of the provisional award pursuant to Article 107 of the Bankruptcy Law, following which they must make payment by the deadline set out in the specific terms of sale.
 
The provisional award shall be made to the bidder who submitted the highest offer for each lot or, if no higher bids are placed, to the bidder recognized as the first in chronological order to have completed the procedure for finalizing the 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, failing which the successful bidder shall forfeit the award and permanently lose the security deposit.
 
The deed of sale 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 amount due within the deadlines set out in the specific terms 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 successively to the next highest bidder, who must have completed the procedure described in section 5.1 or placed a higher bid as outlined 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 option provided for in Article 107, fourth paragraph, of the Bankruptcy Law and suspend the sale upon receipt of an irrevocable purchase offer that improves on the existing offer by an amount of no 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 Principal

Pursuant to Article 107 of the Bankruptcy Law, the Principal undertakes to notify each mortgage creditor or other creditor 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, filing the relevant documentation with the Court Registry.
 
The Principal declares that any registrations relating to rights of pre-emption, records of attachments and precautionary 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 paid in full. Unless otherwise provided in the specific terms of sale, all formalities for the cancellation shall be carried out at the expense of the successful bidder.
 
7. Buyer’s Premium

The fee payable to the Agent shall be borne exclusively by the buyer and is indicated as the Buyer’s Premium.  It shall be calculated on the hammer price of the asset, according to the procedures specified in the specific conditions of sale.
 
 
8. Expenses
 
The buyer shall be responsible for notarial fees, statutory taxes and all expenses relating to the sale, whether tax-related or otherwise.   The Principal shall provide details of the exact amount of the expenses and a correct breakdown thereof as soon as possible.
 
The Principal shall take the necessary steps in this regard, taking into account the tax rules applicable to the transaction and any tax benefits the buyer intends to claim. The Principal shall therefore determine whether the transaction is subject to VAT or registration tax and specify, where applicable, whether it intends to apply the reverse charge mechanism.
 
At the end of the sale, the Agent shall also ask the successful bidder whether they intend to claim the first-home tax benefit or another tax benefit, and shall inform the Principal accordingly, so that the exact amount of tax payable by the buyer can be calculated.
 
The successful bidder shall pay the expenses by 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 stipulated in the specific conditions of sale.
The deposit must be credited to the account before the auction closes.
 
For payment by bank transfer, it is recommended to make a BIR transfer (high-value bank transfer).
 
If auction participants do not win any assets, the deposit will be refunded within 20 business days of the auction closing, without interest.
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 this case, at the Principal's discretion, the security deposit may be retained to cover any expenses attributable to the Proceedings and/or other services provided by the Agent.
If the security deposit is paid by credit card, it will be charged to 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 deposit from the total amount due from the buyer.
If, after paying the deposit and winning a lot, the bidder fails to complete the purchase within the deadlines specified in the specific conditions of sale, including payment of the hammer price, the Buyer’s Premium and any additional expenses, the sale shall be automatically terminated and the deposit shall be retained as liquidated damages.
 
10. Payments
 
The provisional successful bidder for one or more lots must comply with the specific auction conditions, which shall specify the deadlines for payment of both the lots won and the Buyer’s Premium due, as well as any additional expenses, and the applicable 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 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 applicable deadlines, the sale shall, in agreement with the Principal, be automatically terminated and the security deposit shall be retained as liquidated damages, resulting in forfeiture of the award.
 
 
 
 
11. Transfer of ownership
 
Ownership shall be transferred only after full payment of the hammer price and expenses, 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 court-ordered sales, the Principal shall also notify the Delegated Judge so that the Judge may arrange for the cancellation of adverse registrations affecting the real estate being transferred, pursuant to Art. 108 of the Bankruptcy Law, as specified in Art. 6.
Once the payment deadlines specified in the specific conditions of sale have elapsed, if the transfer of ownership has not been completed, the sale shall be automatically terminated and the amount paid by the successful bidder as the Buyer’s Premium shall be retained by the Agent as liquidated damages. The amount paid by the successful bidder as a security deposit shall 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 total or partial, between the descriptions of the lots offered at auction or in advertisements published on the platform and the actual lots.
 
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 acknowledges the possible 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 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 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 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 (Art. 2919 of the Italian Civil Code). The assets are sold as seen and accepted, in their actual and legal condition. In a forced sale, there is no warranty against 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 whatsoever regarding the existence of third-party rights over assets covered by the sale (Art. 2920 of the Italian Civil Code).
           
The real estate is sold in its actual and legal condition, together with all appurtenances, additions, rights and claims, and active and passive easements. The sale is for a lump sum 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 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. and the Principal disclaim all liability for any errors, omissions or inaccuracies in the 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 their actual condition of the auction goods.
 
No warranty is given by GOBID INTERNATIONAL AUCTION GROUP S.r.l. or the Principal
 
By accepting these terms and conditions, 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 arising regarding the interpretation of the provisions contained in the general and specific terms and conditions displayed on the platform, which may have been translated into other languages, the Italian version of the text shall prevail.

Unless otherwise specified, the times stated in the specific terms and conditions and on the platform refer to the time zone indicated by the server time published on the website