GENERAL TERMS AND CONDITIONSThis 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 included in this collection do not impose any obligation or commitment to sell on the PRINCIPAL, nor any costs for brokerage or consultancy services (other than those covered by the assignment granted to the AGENT), and do not constitute invitations to make offers, offers to the public pursuant to art. 1336 of the Italian Civil Code, or solicitations of public savings pursuant to art. 94 et seq. of Legislative Decree 58/1998.
For the rules governing participation and all information relating to the aforementioned 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. How to participate and submit offers
· Art. 5. Irrevocable purchase offer
· Art. 6. Obligations of the Principal
· Art. 7. Buyer’s Premium
· Art. 8. Costs
· 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, authorised to conduct auctions under Licence 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 a Court or a sales assignment 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 offers/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: User registered on www.gobidreal.it
Auction Registration: Authorisation requested by the registered user to participate in a specific
AuctionBidder Number: Registered User identifier
General Terms and Conditions: These terms and conditions
Specific Terms and Conditions: Specific terms and conditions of the Auction
Deposit: Amount to be paid to participate in the Auction.
Starting Price: Starting price of each lot
Reserve Price: Minimum price whose attainment 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 intends 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, excluding any Buyer’s Premium due and any additional tax or other charges
Buyer’s Premium: Fee due 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 Where applicable, Specific Terms and Conditions will be published for each auction or listing, setting out all specific information relating to the auction or listing itself 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 their dates, 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 interrupt the auction or listings.
4. How to Participate and Submit Offers.4.1 Listing User participation in the listing process shall 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, 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 may 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 users. Any powers of attorney or delegations may be considered subject to the Principal’s authorisation.
The user must pay the required security deposit by bank transfer to the bank 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 closes, unless otherwise indicated in the specific terms and conditions of sale.
In addition to paying 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 by sending them to
[email protected] - IF AN INDIVIDUAL:
- Copy of a valid identity document of 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 award)
- IF COMPANIES or ENTITIES:
- Updated company registry extract or C.C.I.A.A. certificate
- Copy of a valid identity document of the person who signed the bid on behalf of the company and, if that person is not the legal representative, a copy of the instrument evidencing the relevant powers
- Copy of the tax code of the person who signed the bid
- Any duly legalized translation of the company registry certificate, if the company is not Italian
- Special power of attorney received or authenticated by a notary, in case of participation through a representative
Where required by specific conditions, additional documents will be requested and added to those mentioned above.
5. Irrevocable purchase bid 5.1 Procedure for finalizing bids 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 terms 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 considered equivalent to an irrevocable purchase bid at the price set as the auction starting price for each sales attempt and shall itself constitute a binding purchase commitment on the part of the user.
The bid shall be formalized on the platform directly by the Agent by placing an online bid on behalf of the first user to complete the above-mentioned finalization procedure.
If there are several participants who have formalized their irrevocable purchase bids 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 shall inform all bidders, by any means, whether or not they are the best bidders when the aforementioned irrevocable purchase bid is formalized.
5.2 Submission of bids to increase the starting price. Placing higher bids The bid formalized for 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 submitted the highest bid at the end of the online auction.
Clearly, if several participants place higher bids on the auction starting price, the user recognized as the “first bidder” may also compete to be awarded the lots by placing higher bids on the current price.
To be awarded the lot(s) for sale, users will be invited to increase the price indicated at 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 a bid for a maximum amount. This is the maximum amount the user is willing to offer for each lot. The proxy bid value is entered manually by each bidder.
Until the user's maximum bid is exceeded by a higher bid, that user shall remain the best bidder and therefore 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 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 shall 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 in the same way 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 increments in the case of a maximum bid (proxy bid) shall also be considered winning bids.
5.4. Awarding of lots At the end of each auction, following a review stage, the best bidders shall be sent confirmation of provisional award pursuant to Article 107 of the Bankruptcy Law, and shall be required to make payment by the deadline set out in the specific terms of sale.
The provisional award shall be made to the bidder who submitted the highest bid 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 purchase bid 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, 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 bids are binding and constitute a formal purchase commitment. If the successful bidder does not pay the consideration within the deadlines set out in the specific terms of sale, or if the award is forfeited, the sale shall automatically be deemed terminated and the security deposit shall be retained in accordance with the procedures established in the “Security deposit” section. In such case, the award shall be made successively to the next-best bidder who has completed the procedure described in section 5.1 or placed a higher bid as explained in section 5.2.
5.5 Other provisions Where provided for 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 Law and suspend the sale upon receipt of an irrevocable purchase bid offering an improvement of no less than ten percent over the price offered.
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 Law, the Principal undertakes to notify 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 pre-emption rights, registrations of attachments and precautionary seizures, and any other encumbrances affecting the real estate put up for sale, shall be cancelled pursuant to Article 108 of the Bankruptcy Law once the sale has been completed and the price paid in full. Unless otherwise provided in the specific terms of sale, all formalities for the cancellation shall be carried out at the expense of the successful bidder.
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 sale price of the property, according to the methods set out in the specific conditions of sale.
8. Expenses The buyer shall be responsible for the notarial fees, statutory taxes and all expenses relating to the sale, whether tax-related or otherwise. The Principal shall provide information on the exact amount of the expenses and specify them correctly as soon as possible.
The Principal shall take the necessary steps in this regard, taking into account the tax rules applicable to the transaction and any tax benefits the buyer may intend to claim. The Principal shall therefore verify whether the transaction is subject to VAT or registration tax and, where the relevant conditions are met, specify whether it intends to apply the reverse charge mechanism.
At the end of the sale, the Agent shall also ask the successful bidder whether they intend to claim the first-home tax benefit or any other tax benefit, and shall inform the Principal accordingly, so that the Principal can calculate the exact amount of taxes payable by the buyer.
The successful bidder shall pay the expenses within the deadlines set out in the specific 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 conditions of sale.
Before being authorized to participate in the auction, participants shall pay the amount specified above by bank transfer or, where provided for in the specific conditions, by credit card through the platform. Payments shall be made as set out in the specific conditions of sale.
The security deposit must be credited before the auction ends.
For payment by bank transfer, it is recommended that a high-value transfer be made.
If participants do not win any lots at the auction, the security deposit shall be refunded within 20 business days of the auction closing, without interest.
If one or more lots are won, the security deposit shall 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 withheld to cover any expenses attributable to the proceedings, as well as any other services provided by the Agent.
If the security deposit is paid by credit card, it shall be charged to the Agent’s bank account, and the Agent shall 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 set out in the specific conditions of sale, including payment of the winning bid price, the Buyer’s Premium and any additional expenses, the sale shall be automatically terminated and the security deposit shall be retained as liquidated damages.
10. Payments The provisional successful bidder for one or more lots must comply with the specific auction conditions, which shall specify the deadlines for payment of both the lots won and the Buyer’s Premium due, as well as any additional expenses, together with the applicable compensation clauses in the event of failure to comply with those conditions.
All payments shall be made in full exclusively by bank transfer, unless otherwise provided in the specific conditions. The bank details shall be provided when the user receives confirmation of the provisional successful bid.
If the amounts due are not paid within the specified deadlines, the sale shall, subject to the Principal’s agreement, be automatically terminated and the security deposit shall be retained as liquidated damages, with the successful bid consequently forfeited.
11 . Transfer of Ownership Ownership shall be transferred only after full payment of the winning bid price and expenses, as provided for in the specific 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 conditions of sale.
In the case of court-ordered sales, the Principal shall also notify the Delegated Judge so that the Judge may arrange for the cancellation of any adverse 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 conditions of sale have passed, if the transfer of ownership has not been completed, the sale shall be automatically terminated and the amount paid by the successful bidder as the 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 provisions in the Security Deposit section.
12. Warranties GOBID INTERNATIONAL AUCTION GROUP S.r.l. shall not be liable for any discrepancy, whether total or partial, between the descriptions of the lots offered at auction or in the listings published on the platform and the actual lots.
For all matters not covered by these general conditions or the specific conditions, the provisions contained in the website’s 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 online listing 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 its own wilful misconduct or gross negligence. Under no circumstances shall GOBID INTERNATIONAL AUCTION GROUP S.r.l. be liable for: actions taken directly by the user that may cause damage to or malfunction of 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 ended.
For all matters not expressly covered by these general and specific conditions, reference shall be 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 properties are sold as seen and accepted, in their current factual and legal condition. In a forced sale, there is no warranty against defects in the property. The sale may not be challenged on the grounds of damage. (Article 2922 of the Italian Civil Code).
The Agent accepts no liability for the existence of third-party rights over the properties being sold (Article 2920 of the Italian Civil Code).
The real estate is sold in its current factual and legal condition, together with all appurtenances, improvements, 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 against defects or other deficiencies.
UNAUTHORIZED WORKS, VIOLATIONS, ENCUMBRANCES, COMPLIANCE WITH APPLICABLE REGULATIONS
For further information on any unauthorized works, violations, encumbrances or instances of non-compliance with applicable regulations affecting the lots for sale, please refer to the attached appraisal.
The lots are sold as seen and accepted, in their current condition.
Viewing the auction lots 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, viewing the lots is strongly recommended in order to verify the actual condition of the auction goods. No warranty is given by GOBID INTERNATIONAL AUCTION GROUP S.r.l. or the Principal
By accepting these terms, the purchaser releases GOBID INTERNATIONAL AUCTION GROUP S.r.l. and the Principal from any warranty or third-party claim.
In the event of any disputes arising in connection with 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
