GENERAL TERMS AND CONDITIONSTable of Contents: · Art. 1. Definitions
· Art. 2. Applicability
· Art. 3. Publication and conduct of auctions and notices
· Art. 4. Participation and bidding procedures
· 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 manager of the online auction website http://www.gobidreal.it, with registered office in Milan, Via P.O. Vigliani, 19, VAT - Tax Code 09441470961, authorized for auction sale with License issued by the Milan Police Commissioner no. 13/2008 dated 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 assignment conferred by the Principal.
Principal: Responsible for the Procedure
Agent:GOBID INTERNATIONAL AUCTION GROUP S.r.l.
Procedure:insolvency procedure declared by the Court or sale assignment conferred by private individuals
Auction: Competitive online sale of real estate published on
www.gobidreal.itNotice: Publication of an announcement regarding the sale or collection of offers/expressions of interest on real estate published on
www.gobidreal.itLot: Property or set of properties present, subject of Auction or Notice
Registered user: User registered at www.gobidreal.it
Registration for the auction: 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 individual lots
Reserve price: Minimum price whose achievement 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 that 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 time available 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 notices, as well as to the terms and conditions of user participation.
2.1. Specific conditions For each auction or notice, where provided, the Specific Conditions will be published, indicating all specific information relating to the auction or notice itself and the lots
These conditions apply unless otherwise indicated by the Specific Conditions of each individual auction or notice
3. Publication and conduct of auctions and notices Auctions and notices will be published on the website www.gobidreal.it with indication of 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 notices.
4. Participation and Bidding Procedures.4.1 Notice The user's participation in the notice 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 the auctions will be the same to which the award may be attributed and to which the property will be registered. All required payments, before and after 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 account specified in the specific sale conditions and on the registration page.
Where indicated in the specific sale conditions, the deposit payment may be made 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 security deposit must be credited strictly before the end of the auction, unless otherwise indicated in the specific sale conditions.
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 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 submission of a copy of their identity document (document not binding for enabling but required in case of award)
- IF COMPANY or ENTITIES:
- Updated Chamber of Commerce report or C.C.I.A.A. certificate
- Copy of a valid identity document of the person who signed the offer on behalf of the company and, if it is a person other than the legal representative, copy of the document from which the relevant powers result
- Copy of the tax code of the person who signed the offer
- Any duly legalized translation of the Chamber of Commerce certificate, if the company is not Italian
- Special power of attorney received or authenticated by notary, in case of participation through a representative
Where provided for by specific conditions, further documents will be required which will supplement the aforementioned ones.
5. Irrevocable purchase offer 5.1 Procedure for finalizing bids at the auction base price
The combined effect of the credit of the security deposit, the formalization of the 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 required supporting documentation, as specified above in point 4.2.1, will be considered equivalent to an irrevocable purchase offer at the price set as the auction base price for each sale attempt and will constitute, itself, a binding purchase commitment by the user.
This offer will be formalized on the platform directly by the Agent 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 methods described above, and none of the bidders makes a bid on the Platform, the best bidder and therefore provisional winning bidder will be the one who, first in time:
- has carried out the aforementioned procedure.
The Agent will take care to inform all bidders by any means whether they are the best bidders at the time of the formalization of the aforementioned irrevocable purchase offer.
5.2 Submission of bids for increase of the base price. Formulation of bids The offer, formalized by the first bidder, may be exceeded by bids of a higher amount, made by any enabled user.
The user who wishes to be the best bidder (and therefore provisional winning bidder) must have placed the highest offer at the end of the online auction.
Clearly, where there are multiple participants who make bids on the offer at the auction base price, even the user recognized as "first bidder" may compete for the award of the lots by making bids 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 bid) according to the following methods:
5.2.1 Static offer By "static offer" is meant a bid at the price published online, plus a predetermined minimum bid increment.
5.2.2 Maximum offer (Proxy Bid):
By "proxy bid" is meant a maximum amount offer. It corresponds to the maximum amount 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 offer made by the user is exceeded by an offer of a higher amount, the same user will be the best bidder and therefore provisional winning bidder.
The current price will automatically adjust based on the amount of the predetermined bid increments, until reaching the value set as the "maximum offer".
The value of the maximum offer (proxy bid) made by a user will not be visible to other users.
5.3. Validity of offers In any case (static offer – maximum offer – free offer), offers will be considered valid only if submitted during the auction period.
5.3.1 Extra time If a winning offer is made in the 5 minutes preceding the auction closing, the time available to make another offer will be extended by a further 5 minutes from the last bid received. And so on, for each winning offer received within the 5 minutes of extra time, until the conclusion of the available time.
In the event of extra time, 5 minutes must pass without any additional offer being registered from the last bid received, before the auction can be considered definitively closed.
Automatic bids in the case of a maximum offer (proxy bid) will also be considered winning offers.
5.4. Award of lots At the end of each auction solution, following an investigation 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 competitor who has submitted the highest offer for each lot, or, in the absence of further bids, to the bidder who has been recognized as the first, in time order, to have completed the finalization procedure of the irrevocable purchase offer described in point 5.1.
In the event of award, the sale price must be paid in full by bank transfer made out to the procedure within the terms set 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 purchase commitment. If the winning bidder does not pay the consideration within the terms set in the specific conditions of sale, or if the award should lapse, the sale will be automatically resolved and the deposit will be retained, according to the methods set out in the "Security Deposit" section. In such case, the award will be attributed, successively, in favor of the next best bidder, who has completed the procedure described in point 5.1 or made a bid, on the basis of what is illustrated in point 5.2.
5.5 Other provisions Where required by law, the Principal, as responsible for the sale procedure, may avail itself of the power provided by Art. 107, fourth paragraph, of the Bankruptcy Law, and suspend the sale in the event of receipt of an improved irrevocable purchase offer for 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 the 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 burdening 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 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 winning bidder.
7. Buyer's Premium
The fee due to the Agent 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, statutory taxes and all expenses relating to the sale, fiscal and non-fiscal, will be borne by the buyer. Communication regarding the exact amount of the charges and their correct specification must be made by the Principal as soon as possible.
The Principal must provide accordingly, taking into account theTax regime of the transaction and any reliefs that the buyer 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 use the reverse charge.
At the end of the sale, the Agent shall, finally, ask the successful bidder whether it intends to use the first-home benefit or other tax benefit and inform the Principal accordingly, so that it may calculate the exact amount that the buyer will be required to pay in terms of taxes.
The successful bidder shall pay the expenses within and no later than the terms indicated in the specific conditions of sale.
9. Security deposit Participation in the auction is subject to payment of a mandatory security deposit defined in the specific conditions of sale.
Before being enabled to participate in the auction, participants shall pay the amount set out above by bank transfer or, where provided in the specific conditions, by credit card through the platform. Payments shall be made as set out in the specific conditions of sale.
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 the auction participants do not win any asset, the deposit will be returned within 20 working days from the award, without interest.
In the event of award of one or more lots, the security deposit will be returned after the buyer 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.
In the event of payment of the security deposit by credit card, the deposit will be collected into the Agent's current account, which will return the amount so retained according to the procedures described above.
If the buyer wins at least one lot at auction, the Agent, in agreement with the Principal, may deduct the deposit from the total amount owed by the buyer.
If, in the event of award, after paying the deposit, the bidder does not complete the purchase within the terms set out in the specific conditions of sale, as regards both the award price and the Buyer’s Premium and 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 terms for payment of both the awarded lots and the Buyer’s Premium due as well as any additional charges, and the related compensation clauses in the event of non-compliance with the above 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 provisional award confirmation.
In the event that payment of the amounts due is not completed within the established terms, 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 in the specific conditions of sale, by notarial deed according to the methods established by the Principal, unless otherwise indicated in the specific conditions of sale.
In the event of sales judicial, the Principal shall undertake, finally, to notify the Delegated Judge so that he in turn arranges for the cancellation of the prejudicial 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, 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 compensatory penalty/liquidated damages. The amount paid by the successful bidder as 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 lack or partial correspondence of the descriptions of the lots 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. shall not be liable for direct and/or indirect damage or liability, except in the case of its willful misconduct or gross negligence. Under no circumstances shall GOBID INTERNATIONAL AUCTION GROUP S.r.l. be liable for: direct actions by 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 understood to be forced (Art. 2919 of the Italian Civil Code). It is arranged for the goods as seen and approved in the factual and legal state in which they are located. 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 located, with all possible appurtenances, accessions, claims and actions, active and passive easements. The sale is as a whole and not by measure, and without any warranty for defects or any other lack.
ABUSES, VIOLATIONS, ENCUMBRANCES, COMPLIANCE WITH CURRENT REGULATIONS
For further information regarding any abuses, violations, encumbrances or lack of compliance with current regulations for the lots for sale, reference is made to the attached appraisal.
The lots are sold as seen and approved in the condition in which they are located.
Viewing of the lots in 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 auction. No warranty is given by GOBID INTERNATIONAL AUCTION GROUP S.r.l. or by the Principal
By accepting these conditions, the buyer indemnifies GOBID INTERNATIONAL AUCTION GROUP S.r.l. and the Principal from any warranty or claim of third parties.
In the event of any disputes arising relating to 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
