GENERAL TERMS AND CONDITIONS

This is a collection of irrevocable purchase offers relating to 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 services (other than the assignment given to the AGENT), and do not constitute invitations to make offers, offers to the public ex Article 1336 of the Italian Civil Code, or solicitations of public savings ex Article 94 et seq. of Legislative Decree 58/1998.
For the participation rules and all information relating to the above-mentioned 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. Participation 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 internet auction site http://www.gobidreal.it, headquartered in Milan, Via P.O. Vigliani, 19, VAT No. - Tax Code 09441470961, authorized to conduct auctions under License 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 assignment granted 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 assignment granted by private parties
Auction: Competitive online sale of real estate published on www.gobidreal.it
Listing: Publication of a notice concerning 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 a registered user to participate in an individual Auction
Bidder Number: Registered User identification number
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 which, when reached, 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 is willing to pay for the lot
Minimum Bid Increment: Predetermined amount added to the current price, required to place a static bid.
Extra time : Extension of the time available to place bids in an 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 award, excluding any Buyer’s Premium due and any additional tax and 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 provided 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. Participation and submission of bids.
4.1 Listing  
 
User participation in the listing process shall be governed by the specific terms and conditions, where applicable.
 
4.2 Online auction
4.2.1 Registration process
To participate in the sale, the user must register on the website www.gobidreal.it, enter 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 under which 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 authorizations may be considered subject to the Principal's prior 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 end of the auction, unless otherwise indicated in the specific terms and conditions of sale.
 
In addition to paying the security deposit, 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 the bidder is 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 (document not binding for the purposes of registration but required in case of award)
 
-       If the bidder is a LEGAL ENTITY:
 

Where provided for under specific conditions, additional documents will be required to supplement those mentioned above.
 
5. Irrevocable purchase offer 
 
5.1 Procedure for completing offers at the auction starting price
 
The combined effect of the payment of the security deposit, the formalization of registration for the auction – with express acceptance of the general and specific terms of sale published online at www.gobidreal.it – and the submission by the user of all supporting documentation required, as specified above in section 4.2.1, shall be deemed 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 purchase commitment on the part of the user.
 
This offer will 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 the manner described above, and none of the bidders places a further bid on the Platform, the best bidder and, therefore, the provisional successful bidder shall be the person who, first in chronological order:
 
            - has completed the aforementioned procedure.
 
The Agent shall notify 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 further bids
 
The offer formalized by the first bidder may be outbid by higher bids placed by any authorized user.
 
A user wishing to be the best bidder (and therefore the provisional successful bidder) must have placed the highest bid at the end of the online auction.
 
Clearly, where multiple participants place further 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 further bids on the current price.
 
To win the lot(s) for sale, users will be invited to increase the price shown at auction (and therefore place at least one further 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 up to a maximum amount. This is the maximum amount the user is willing to offer for each lot. The proxy bid amount is entered manually by each bidder.
 
Until the maximum bid placed by the user is exceeded by a higher bid, that user will remain the best 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 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 bid will be extended by a further 5 minutes from the last bid received. This will continue for every winning bid received within the 5-minute extra-time period, until the available time expires.
 
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 bids placed in response to a maximum bid (proxy bid) will also be considered winning bids.
 
 
5.4. Award of the lots
 
At the end of each auction process, following a review phase, the best bidders will be sent confirmation of provisional award pursuant to Article 107 of the Bankruptcy Act, and will be required to make payment by the deadline specified in the specific terms of sale.
 
The provisional award will be made to the bidder who submitted the highest bid for each lot or, if no further bids are placed, to the bidder recognized as the first, in chronological order, to have completed the procedure for formalizing 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 specified in the specific terms, failing which the award will be forfeited and the security deposit permanently lost.
 
The deed of sale will 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 purchase commitment. If the successful bidder fails to pay the purchase price within the deadlines specified in the specific terms 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 such case, the award will be made to the next best bidder in turn, provided they have completed the procedure described in section 5.1 or placed a further bid, as set out 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 right provided for under Article 107, paragraph four, of the Bankruptcy Act 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 Act, the Principal undertakes to give notice by notification to 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, filing the relevant documentation with the Court Registry.
 
The Principal declares that any registrations relating to rights of pre-emption, records of attachment orders and conservatory seizures, and any other encumbrances on the real estate offered for sale, will be cancelled pursuant to Article 108 of the Bankruptcy Act once the sale has been completed and the price has been paid in full. Unless otherwise provided in the specific terms of sale, all formalities for cancellation shall be carried out at the successful bidder's expense.
 
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 of sale.
 
 
8. Costs 
 
The buyer shall be responsible for notarial fees, statutory taxes and all expenses relating to the sale, whether tax-related or otherwise. The Principal must communicate the exact amount of the costs and provide an accurate breakdown as soon as possible.
 
In this regard, the Principal must take into account the tax rules applicable to the transaction and any        benefits that 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 they intend to apply the reverse charge.
 
At the end of the sale, the Agent will also ask the successful bidder whether they intend to claim the first-home tax benefit or another tax benefit, and will inform the Principal accordingly so that they can calculate the exact amount of tax payable by the buyer.
 
The successful bidder must pay the costs no later than the deadlines specified in the specific conditions of sale.
 
 
 
9. Security Deposit
 
 
Participation in the auction is subject to 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 closes.
 
For payments 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 buyer has transferred 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 costs relating to the Proceedings 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 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 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 a compensatory penalty.
 
10. Payments
 
The provisional successful bidder for one or more lots must comply with the specific conditions of the auction, which will specify the deadlines for payment of both the lots won and the Buyer’s Premium due, as well as any additional costs and the relevant 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 payment of the amounts due is not completed within the specified deadlines, the sale will be automatically terminated, in agreement with the Principal, and the security deposit will be retained as a compensatory penalty, resulting in forfeiture of the award.
 
 
 
 
11. Transfer of Ownership
 

12.  Warranties
 
GOBID INTERNATIONAL AUCTION GROUP S.r.l. is not responsible for any discrepancies or partial discrepancies between the descriptions of the lots offered at auction or in advertisements published on the platform and the lots themselves.
 
For anything 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 that objective and subjective issues may arise from using 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 damage or impair the system; the unavailability of or inability to view and/or use www.gobidreal.it; unlawful use of www.gobidreal.it; or any event occurring after the auction has ended.
 
For anything not expressly provided for in these general and specific conditions, reference is made to the provisions of the Italian Code of Civil Procedure and the Italian Bankruptcy Law.
The sale of real estate is a forced sale (Article 2919 of the Italian Civil Code). The property is sold as seen and accepted, in its actual and legal condition. In a forced sale, there is no warranty for defects in the property. The sale cannot be challenged on grounds of damage (Article 2922 of the Italian Civil Code).
 
The Agent shall have no liability whatsoever regarding the existence of third-party rights over 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 of the property as a whole and not by measurement, and is made without any warranty for defects or other deficiencies.
 
IRREGULARITIES, VIOLATIONS, ENCUMBRANCES, COMPLIANCE WITH APPLICABLE REGULATIONS
For further information regarding any irregularities, 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. 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 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 and conditions set out on the platform, which may have been translated into other languages, the Italian version of the text shall prevail.