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. 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. and Tax Code 09441470961, authorized to conduct auction sales 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 appointment 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 appointment granted by private parties
Auction: Competitive online sale of real estate published on
www.gobidreal.itListing: Publication of a notice relating to the sale or collection of offers/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: Authorization 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: Terms and conditions specific to the Auction
Deposit: Amount to be paid to participate in the Auction.
Starting Price: Starting price of each lot
Reserve Price: Minimum price, the attainment 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 is willing to pay for the lot
Minimum Bid Increment: Predetermined amount added to the current price, required to submit a static bid.
Extra time : Extension of the time available for placing bids in an auction (see the Extra time section)
Provisional Award: Notice sent to the highest bidder by GOBID INTERNATIONAL AUCTION GROUP S.r.l.
Award Price: Amount of the lot's award price, net of any Buyer’s Premium due 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, Specific Terms and Conditions will be published, setting out all specific information relating to the auction or listing itself and to 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 offered 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 through the listing method 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, enter their personal details, and request registration for the auction, accepting 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 before and after the sale must be made by the registered parties. 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 ends, unless otherwise specified 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 in the "My Documents" section or sending them to
[email protected] - IF AN INDIVIDUAL:
- A copy of a valid identity document of 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 completes the registration, according to the procedure described in section 5.1)
- A 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 authorization to participate but will be required in the event of an award)
- IF A COMPANY OR OTHER ENTITY:
- Up-to-date company register extract or certificate from the Chamber of Commerce, Industry, Crafts and Agriculture (C.C.I.A.A.)
- A 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 evidencing their relevant authority
- A copy of the tax code of the person who signed the offer
- Any duly legalized translation of the company register 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 provided for by 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 crediting the security deposit, formalizing registration for the auction – with express acceptance of the general and specific 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 purchase offer at the price set as the starting price for each sales 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.
If there are several participants who have formalized their irrevocable purchase offers in the manner described above, and none of the bidders places a higher 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 above-mentioned procedure.
The Agent will ensure that all bidders are informed, 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 higher bids The offer formalized for the first bidder may be exceeded by higher bids placed by any authorized user.
To be the best 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 identified as the "first bidder" may also compete to win the lots by placing higher bids on the current price.
To win the lot(s) being sold, users will be invited to increase the price indicated 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" is a bid for a maximum amount. It corresponds to the maximum amount the user is willing to offer for each lot. The proxy bid amount is entered manually by each bidder.
Until the user's maximum bid is exceeded by a higher offer, 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 – free bid), bids will 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 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. This will continue indefinitely for each 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 increases in the case of a maximum bid (proxy bid) will also be considered winning bids.
5.4. Awarding of lots At the end of each auction process, following a review phase, the highest bidders will be sent confirmation of provisional award pursuant to Article 107 of the Bankruptcy Act, following which they will be required to make payment by the deadline established in the specific terms of sale.
The provisional award will be made to the bidder who has submitted the highest bid for each lot or, in the absence of further bids, to the bidder who is recognized as having been the first, in chronological order, to complete 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 in the name of the proceedings within the time limits established 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 means of a notarized 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 does not pay the amount due within the time limits established in the specific terms of sale, or if the award is forfeited, the sale will be automatically rescinded and the security deposit will be retained in accordance with the procedures established in the “Security deposit” section. In this case, the award will be made successively to the next highest bidder, who will have completed the procedure described in section 5.1 or placed a higher bid, in accordance with the provisions of section 5.2.
5.5 Other provisions Where provided for by law, the Principal, in its capacity as the party responsible for the sale procedure, may exercise the right provided for in Article 107, fourth paragraph, of the Bankruptcy Act and suspend the sale upon receipt of an irrevocable offer to purchase that is at least ten percent higher than the offered price.
In any event, 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 Article 107 of the Bankruptcy Act, the Principal undertakes to notify each mortgage creditor or creditor otherwise holding a priority 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 by filing the relevant documentation with the Court Registry.
The Principal declares that any registrations relating to pre-emption rights, records of attachments and precautionary 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 will be completed at the successful bidder’s expense and under their responsibility.
7. Buyer’s Premium The fee due to the Agent will be payable exclusively by the buyer and indicated as the Buyer’s Premium. It will 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 will 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 specify them correctly as soon as possible.
The Principal must do so, taking into account the tax rules applicable to the transaction and any tax relief the buyer intends to claim. The Principal must therefore verify whether the transaction is subject to VAT or registration tax and specify, where the relevant requirements are met, whether it intends 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 tax benefit or another tax benefit and will inform the Principal accordingly, so that it can calculate the exact amount of tax the buyer will be required to pay.
The successful bidder must pay the costs no later than the deadlines indicated in the specific terms of sale.
9. Security deposit Participation in the auction is subject to payment of a mandatory security deposit as defined in the specific terms 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, by credit card through the platform. Payments must be made as specified in the specific terms of sale.
The security deposit must be credited before the auction ends.
For payment by bank transfer, a BIR transfer (high-value bank transfer) is recommended.
If auction participants do not win any assets, 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 completed the transfer of ownership of the real estate purchased at auction by means of a notarized 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 attributable to the Proceedings, as well as any 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 this way in accordance with the procedures described above.
If the buyer is awarded 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 buyer.
If, following an award and payment of the security deposit, the bidder does not complete the purchase within the time limits established in the specific terms of sale, including payment of the award price, the Buyer’s Premium and any additional costs, the sale will be automatically rescinded and the security deposit will be retained as a penalty for damages.
10. Payments The provisional successful bidder for one or more lots must comply with the specific terms of the auction, which will specify the deadlines for payment both for the lots awarded and for the Buyer’s Premium due, as well as any additional costs and the related compensation clauses in the event of failure to comply with the aforementioned terms.
All payments must be made in full exclusively by bank transfer, unless otherwise provided in the specific terms. The payment details will be specified when the user receives confirmation of the provisional award.
If the amounts due are not paid by the established deadlines, the sale will be automatically rescinded in agreement with the Principal, and the security deposit will be retained asas liquidated damages, resulting in forfeiture of the award.
11. Transfer of ownership
Ownership shall be transferred by deed executed before a Notary Public appointed by the proceedings, only after full payment of the award price, expenses and Buyer’s Premium, unless otherwise specified in the specific conditions of sale.
In the case of judicial sales, the Principal shall also notify the Delegated Judge so that the Judge may, in turn, arrange for the cancellation of any prejudicial registrations affecting the properties being transferred pursuant to Art. 108 of the Bankruptcy Law, as indicated in Art. 6.
Once the payment deadlines set out 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 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. shall not be liable for any failure to correspond, or partial correspondence, between the descriptions of lots offered at auction or in notices published on the platform.
For all matters not covered by these general conditions or 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 objective and subjective issues arising from the use of an online auction or online notice conducted over the internet, for which GOBID INTERNATIONAL AUCTION GROUP S.r.l. shall not 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 taken directly 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 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 Civil Code). The properties are sold as seen and accepted, in their actual and legal condition. In a forced sale, no warranty is provided for defects in the property. The sale may not be challenged on the grounds of damage. (Art. 2922 of the Civil Code).
The Agent shall have no liability whatsoever regarding the existence of third-party rights over the assets being sold (Art. 2920 of the Civil Code).
The real estate is sold in its actual and legal condition, with all appurtenances, additions, rights and claims, and active and passive easements, if any. The sale is of the property as a whole and not by measurement, and is made without any warranty for defects or other deficiencies.
UNAUTHORISED WORKS, VIOLATIONS, ENCUMBRANCES, COMPLIANCE WITH APPLICABLE REGULATIONS
For further information concerning any unauthorised works, violations, encumbrances or non-compliance with applicable regulations relating to the lots for sale, please refer to the attached appraisal.
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 notices. For this reason, viewing the lots is strongly recommended in order to verify the actual condition of the assets offered at auction. No warranty is given by GOBID INTERNATIONAL AUCTION GROUP S.r.l. or the Principal.
By accepting these conditions, the purchaser releases GOBID INTERNATIONAL AUCTION GROUP S.r.l. and the Principal from any warranty obligations or third-party claims.
GOBID INTERNATIONAL AUCTION GROUP SRL 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 SRL be liable for: actions taken directly by the user that may damage or impair the system; the unavailability of, or inability to view and/or use, www.gobidreal.it; or unlawful use of www.gobidreal.it.
GOBID INTERNATIONAL AUCTION GROUP SRL shall under no circumstances be held liable for any system malfunctions that may in any way prejudice or delay the delivery of communications to the person who registers.
At the discretion of GOBID INTERNATIONAL AUCTION GROUP SRL, in agreement with the Principal, the competitive procedure may be suspended and/or postponed due to technical connection problems arising from server or network malfunctions, or for other reasons at its sole discretion.
The records contained in the log file generated by the system shall constitute full and exclusive evidence between all parties to this procedure regarding the content and timing of documents/messages exchanged electronically. Persons who register declare and acknowledge that the system records constitute full evidence of the relationship between them. These records are confidential and shall not be disclosed to third parties, except in cases expressly provided for or pursuant to an order of the Judicial Authority.
For all matters not provided for in these conditions, the provisions contained in the Terms of Use of the website www.gobidreal.it shall apply.
In the event of any dispute concerning the interpretation of the provisions contained in the general and specific conditions published on the platform, including where translated into other languages, the Italian version of the text shall prevail.
