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. Fees
· 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, authorised to conduct auctions under Licence 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: The person responsible for the proceedings
Agent: GOBID INTERNATIONAL AUCTION GROUP S.r.l.
Proceedings: Insolvency proceedings declared by a court or a sales 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 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 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: The specific terms and conditions of the Auction
Deposit: Amount payable to participate in the Auction.
Starting Price: Starting price of the individual lots
Reserve Price: Minimum price which, when 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 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 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 of the Lot's award price, excluding any Buyer’s Premium due and any additional fiscal 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, indicating their dates, 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 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 the award may 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 authorisations 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, at the same time, send a copy of the bank transfer receipt to
[email protected] The security deposit must be credited before the end of the auction, unless otherwise specified in the specific terms and conditions of sale.
In addition to payment of the security deposit, to be authorised to participate in the auction, the user must provide the following documents by uploading them in 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 a person 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:
- Recent 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 evidencing their 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 by the notary, 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 finalizing offers at the starting auction 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 the required supporting documentation, 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 auction price for each sale attempt 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.
If several participants have formalized their irrevocable offers to purchase in the manner described above, and none of the bidders places a higher bid on the Platform, the best bidder and, consequently, the provisional successful bidder shall be the person who, first in chronological order:
- 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 offers to increase the starting price. Placing higher bids The offer formalized by the first bidder may be outbid by higher bids placed by any authorized user.
Any user wishing to be the best bidder (and therefore the provisional successful bidder) must have placed the highest offer at the end of the online auction.
Clearly, if several participants place higher bids on the offer at the starting auction 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 shown in the auction (and therefore to 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 an offer 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 user's maximum bid is outbid by a higher offer, that user shall remain the best bidder and, consequently, 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 amount of a user's maximum offer (proxy bid) will not be visible to other users.
5.3. Validity of offers In all cases (static bid—maximum bid—open offer), offers 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 before the auction closes, the time available to place another offer will be extended by a further 5 minutes from the latest bid received. This 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 further offer being recorded after the latest bid received before the auction can be deemed definitively closed.
Automatic higher bids 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 process, the best bidders will be sent confirmation of provisional award pursuant to Article 107 of the Bankruptcy Act, following which they must make payment by the deadline established in the specific terms and conditions of sale.
The provisional award shall be made to the bidder who submitted the highest offer for each lot or, if no further higher bids are placed, to the bidder recognized as the first in chronological order to have completed the procedure for finalizing the irrevocable offer to purchase described in section 5.1.
In the event of an award, the full sale 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 award shall be forfeited and the security deposit permanently lost.
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 offers are binding and constitute a formal commitment to purchase. If the successful bidder fails to pay the amount due within the deadlines established in the specific terms and conditions of sale, or if the award is forfeited, the sale shall automatically be deemed rescinded 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 pass successively to the next-best bidder, who must have completed the procedure described in section 5.1 or placed a higher bid in accordance with 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 under Article 107, fourth paragraph, of the Bankruptcy Act and suspend the sale upon receipt of an improved irrevocable offer to purchase for an amount no less than ten percent above 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 Act, the Principal undertakes to notify each mortgage creditor or creditor otherwise holding a lien 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 first refusal, registrations of attachments and precautionary seizures, and any other encumbrances on the real estate assets offered for sale, shall be cancelled pursuant to Article 108 of the Bankruptcy Act once the sale has been completed and the price 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 responsibility.
7. Buyer’s Premium
The fee payable to the Agent shall be borne exclusively by the buyer and identified 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 notary fees, statutory taxes, and all costs relating to the sale, whether tax-related or otherwise. The Principal must provide details of the exact amount of the costs and an accurate breakdown of them as soon as possible.
The Principal shall make the necessary arrangements in this regard, 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 requirements are met, to specify whether they intend to apply the reverse-charge mechanism.
At the end of the sale, the Agent will also 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 of tax payable by the purchaser can be calculated.
The successful bidder must pay the expenses no later than the deadlines specified in the specific terms and conditions 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 and 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 terms and conditions, by credit card through the platform. Payments must be made as set out in the specific terms and conditions of sale.
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 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 executing a notarial 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 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 current account, and the Agent will refund the amount withheld 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 payable by the purchaser.
If, after paying the security deposit and winning a lot, the bidder fails to complete the purchase within the deadlines set out in the specific terms and conditions 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 a penalty and compensation for damages.
10. Payments The provisional successful bidder for one or more lots must comply with the specific auction terms and conditions, which specify 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 specified in the specific terms and conditions. The bank details will be provided when the user receives confirmation of the provisional award.
If the amounts due are not paid within the specified deadlines, the sale will be automatically terminated in agreement with the Principal, and the security deposit will be retained as a penalty and compensation for damages, with the award consequently 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 and conditions of sale, by means of a notarial deed in accordance with the procedures established by the Principal, unless otherwise specified in the specific terms and conditions of sale.
In the case of court-ordered sales, the Principal will also notify the Delegated Judge so that the Judge may arrange for the cancellation of any prejudicial registrations affecting the real estate being transferred, pursuant to Article 108 of the Bankruptcy Law, as specified in Article 6.
Once the payment deadlines set out in the specific terms and conditions of sale have expired, 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 a penalty and compensation for 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 discrepancy or partial discrepancy between the descriptions of lots offered at auction or in advertisements published on the platform and the actual items.
For all matters not covered by these general terms and conditions or the specific terms and conditions, the provisions of the website’s Terms of Use at
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 via 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. In no circumstances shall GOBID INTERNATIONAL AUCTION GROUP S.r.l. be liable for: actions by the user that may damage or impair 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 covered by these general and specific terms and 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 property is sold as viewed and accepted, in its actual and legal condition. In a forced sale, no warranty is provided against defects in the property. The sale may not be challenged on grounds of damage (Article 2922 of the Italian Civil Code).
The Agent shall have no liability whatsoever with regard to the existence of 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, together with all appurtenances, additions, rights and claims, and active and passive easements. The sale is by the property as a whole 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 concerning any unauthorized 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 viewed and accepted, in their current condition.
Inspection of 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 photographs, descriptions or any other details provided for the auction or in the advertisements. For this reason, inspection of 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 and conditions, the purchaser indemnifies and holds GOBID INTERNATIONAL AUCTION GROUP S.r.l. and the Principal harmless from any warranty or third-party claim.
In the event of any dispute concerning the interpretation of the provisions set out in the general and specific terms and conditions displayed on the platform, including any versions 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