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 offer to purchase
· 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. - Tax Code 09441470961, authorized to conduct auctions under License 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 Procedure
Agent:GOBID INTERNATIONAL AUCTION GROUP S.r.l.
Procedure:insolvency proceedings declared by the Court or a sales mandate 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 in real estate, published on
www.gobidreal.itLot: An asset or group of assets offered 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 a specific
AuctionBidder Number: Registered User identification number
General Terms and Conditions: These terms and conditions
Special 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 individual lots
Reserve Price: Minimum price, when reached, that 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 for placing bids in the 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 Lot's award price, excluding 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. Special Terms and Conditions For each auction or listing, where applicable, the Special 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 stated in the Special 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 take place and the lots offered and, where applicable, the general and special 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 listing.
4. Participation Procedures and Submission of Bids.4.1 Listing User participation in the listing process will be governed by the Special 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 those to which any award will be assigned and in whose name the property will be registered. All required payments, 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 Special Terms and Conditions of Sale and on the registration page.
Where indicated in the Special 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 Special Terms and Conditions of Sale.
In addition to payment of 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 by 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 anyone other than the person who completes the registration, as described in section 5.1)
- Copy of the tax code
- If the bidder is married under the 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 an award)
- IF A COMPANY OR ORGANIZATION:
- Up-to-date company registration report or certificate issued by the Chamber of Commerce, Industry, Crafts and Agriculture
- Copy of a valid identity document for 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 relevant authority
- Copy of the tax code of the person who signed the bid
- Any duly legalized translation of the company registration certificate, if the company is not Italian
- Special power of attorney received or authenticated by notary, in the event of participation through a representative
Where provided for in the specific terms, additional documents will be required, to be added to those mentioned above.
5. Irrevocable purchase offer 5.1 Procedure for completing offers at the starting auction price
The combined effect of crediting the security deposit, completing 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 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 starting price for each sale attempt and shall itself constitute a binding purchase commitment on the part of the user.
That offer will be entered 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 multiple participants who have submitted their irrevocable purchase offers in accordance with the procedures described above, and none of the bidders places a higher bid on the Platform, the person who, first in chronological order:
- completed the aforementioned procedure shall be deemed the highest bidder and, therefore, the provisional successful bidder.
The Agent shall inform all bidders, by any means, whether or not they are the highest bidders at the time the aforementioned irrevocable purchase offer is submitted.
5.2 Submission of bids to increase the starting price. Placing higher bids The offer submitted by the first bidder may be outbid by higher bids placed by any authorised user.
To be deemed the highest bidder (and therefore the provisional successful bidder), the user must have placed the highest bid at the end of the online auction.
Clearly, if multiple participants place higher bids on the offer at the starting auction price, the user recognised 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 up to a maximum amount. This is the maximum amount the user is willing to offer for each lot. The value of the proxy bid is entered manually by each bidder.
Until the maximum bid placed by the user is exceeded by a higher offer, that user will remain the highest bidder and, therefore, the provisional successful bidder.
The current price will automatically adjust based on the predetermined bid increments, up to the value 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 will be deemed 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 will continue indefinitely for every winning bid received within the 5-minute extra-time period, until the available time has elapsed.
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 higher bids placed in response to 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 phase, the highest bidders will be sent confirmation of the 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 offer for each lot or, if no further higher bids are placed, to the bidder recognised as the first in chronological order to have completed the procedure for submitting 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 sale deed will be executed by means of a 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 amount due within the deadlines specified in the specific terms of sale, or if the award is forfeited, the sale will be automatically terminated and the security deposit will be retained in accordance with the procedures set out in the "Security deposit" section. In that case, the award will 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 described 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, fourth paragraph, of the Bankruptcy Act and suspend the sale upon receiving an irrevocable purchase offer that improves on the existing offer by an amount of no less than ten per cent 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 PrincipalPursuant to Article 107 of the Bankruptcy Act, 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 Supervising 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, entries of attachments and precautionary seizures, and any other encumbrances affecting 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 full price has been received. 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 indicated as the Buyer’s Premium. It shall be calculated on the awarded price of the asset, in accordance with the procedures specified in the specific terms of sale.
8. Costs The buyer shall bear notary fees, statutory taxes and all expenses relating to the sale, whether tax-related or otherwise. The Principal must provide information on the exact amount of the costs and a precise breakdown thereof as soon as possible.
The Principal shall act accordingly, taking into account thetax treatment of the transaction and any tax benefits 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 applicable, to specify whether they intend to apply the reverse charge.
At the end of the sale, the Agent will 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 the buyer will be required to pay.
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 subject to payment of a mandatory security deposit, as 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, it is recommended to make a BIR transfer (large-value bank transfer).
If participants do not win any lots at the auction, the security deposit will be refunded, without interest, within 20 business days of the award.
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 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 or to cover other services provided by the Agent.
If the security deposit is paid by credit card, the deposit 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 security deposit from the total amount due from the buyer.
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 automatically be rescinded and the security deposit will be retained as liquidated damages.
10. Payments The provisional successful bidder for one or more lots must comply with the specific terms and conditions of the auction, which set out the deadlines for payment of both the lots awarded and the Buyer’s Premium due, as well as any additional charges and the relevant 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 provided for in the specific terms and 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 prescribed deadlines, the sale will automatically be rescinded in agreement with the Principal, and the security deposit will be retained as liquidated damages, with the award consequently being revoked.
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 and in accordance with the procedures established by the Principal, unless otherwise specified in the specific terms and conditions of sale.
In judicial sales, the Principal will also notify the Delegated Judge so that the Judge may, in turn, arrange for the cancellation of any prejudicial registrations on the properties 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 passed, if the transfer of ownership is not completed, the sale will automatically be rescinded and the amount paid by the successful bidder as the Buyer’s Premium will be retained by the Agent as liquidated damages. The amount paid by the successful bidder as a security deposit will 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 failure of, or partial failure of, the descriptions of lots listed at auction or in the listings published on the platform to correspond to the actual items.
For all matters not covered by these general terms and conditions or the specific terms and conditions, the provisions contained in the Website Terms of Use at
www.gobidreal.it shall apply.
The registered user acknowledges the possible objective and subjective issues arising from the use of an online auction or listing conducted over 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 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 cause damage or malfunction of the system; the 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 covered by these general and specific terms and conditions, reference is made to the provisions of the Italian 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 properties are sold as seen and accepted, in their actual and legal condition. In a forced sale, no warranty is given against defects in the property. The sale cannot be challenged on the 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, not by measurement, and without any warranty against defects or any other deficiency.
UNAUTHORIZED WORKS, VIOLATIONS, ENCUMBRANCES, COMPLIANCE WITH APPLICABLE REGULATIONS
For further information concerning any unauthorized works, violations, encumbrances or instances of non-compliance with applicable regulations relating to the lots for sale, please refer to the attached appraisal report.
Lots are sold as seen and accepted, in their current condition.
Inspection of the lots up for 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, inspecting the lots is strongly recommended in order to verify the actual condition of the items being auctioned. 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 all warranties and third-party claims.
In the event of any dispute concerning the interpretation of the provisions contained in the general and specific terms and conditions published 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
