GENERAL TERMS AND CONDITIONSTable of Contents: · Art. 1. Definitions
· Art. 2. Applicability
· Art. 3. Publication and conduct of auctions and announcements
· Art. 4. Participation methods and submission of bids
· 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 No. - Tax Code 09441470961, authorized for auction sales with License issued by the Police Commissioner of Milan No. 13/2008 of 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 properties under appointment 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 appointment conferred by private individuals
Auction: Competitive online sale of real estate properties published on
www.gobidreal.itAnnouncement: Publication of a notice concerning the sale or collection of offers/expressions of interest on real estate properties published on
www.gobidreal.itLot: Asset or set of assets present, subject of Auction or Announcement
Registered user: User registered on www.gobidreal.it
Auction registration: 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 the attainment of which 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 the user intends to pay for the lot
Minimum bid increment: Predefined amount added to the current price required 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: Fee 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 the auctions and listings, as well as the terms and conditions of user participation.
2.1. Specific conditions For each auction or listing, where provided, the specific Conditions will be published, indicating all specific information relating to the auction or the listing itself and the lots
These conditions apply unless otherwise indicated by the Specific Conditions of 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 with an 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 listings.
4. Methods of Participation and Submission of bids.4.1 Listing The user's participation in the listing method 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 party during registration on the website and for auctions will be the same as those to which the award may eventually be attributed and to which the property will be registered. All requested payments, prior to and following the sale, must be made by the registered parties. 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 current account specified in the specific sale conditions and on the registration page.
Where indicated in the specific sale conditions, the deposit may be paid online by credit card.
The user is required to specify the auction number for which they intend to participate and simultaneously send an accounting copy of the transfer made to
[email protected] The deposit must mandatorily be credited before the auction deadline, unless otherwise indicated in the specific sale conditions.
In addition to crediting the security deposit, the user, in order 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
[email protected] - IF A NATURAL PERSON:
- Copy of a valid identity document of the party to whom the property will be registered (it will not be possible to register the property to a party 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 the legal community of property regime, the corresponding spouse's data must also be provided, with a copy of the relevant identity document (document not binding for enabling purposes but required in the event of award)
- IF A COMPANY or ENTITY:
- Updated chamber of commerce report or C.C.I.A.A. certificate
- Copy of a valid identity document of the party who signed the bid on behalf of the company and, if different from the legal representative, a copy of the document showing the relevant powers
- Copy of the tax code of the party who signed the bid
- Any duly legalized translation of the chamber of commerce certificate, if the company is not Italian
- Special power of attorney received or authenticated by the notary, in the event of participation through a representative
Where provided for by specific conditions, additional documents will be required, which will supplement those mentioned above.
5. Irrevocable purchase offer 5.1 Procedure for finalizing offers at the auction base price
The combined effect of the crediting of the security deposit, the formalization of 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 supporting documentation required, 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, in itself, a binding purchase commitment by the user.
This offer will be formalized on the platform directly by the Mandatary 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 procedures described above, and none of the bidders places a higher bid on the Platform, the best bidder and therefore provisional successful bidder will be the one who, first, in chronological order:
- has carried out the aforementioned procedure.
The Mandatary will take care to inform all bidders by any means whether or not they are the best bidders at the time of formalization of the aforementioned irrevocable purchase offer.
5.2 Submission of offers to increase the base price. Formulation of higher bids The offer, formalized for the first bidder, may be exceeded by higher-amount bids placed by any enabled user.
The user who wishes to be the best bidder (and therefore provisional successful bidder) must have placed the highest offer at the end of the online auction.
Clearly, where there are multiple participants who place higher bids on the auction base price offer, even the user recognized as the "first bidder" may compete for the award of the lots by placing higher 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 place at least one higher 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 pre-established minimum 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 a higher-amount offer, that same user will be the best bidder and therefore provisional successful bidder.
The current price will automatically adjust based on the amount of the pre-established higher bids, 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 placed within 5 minutes before the auction closes, the time available to place another offer will be extended by an additional 5 minutes from the last bid received. And so on, for each offer winning bid received within the 5 minutes of extra time, until the conclusion of the time allowed.
In the event of extra time, 5 minutes must pass without any additional bid being recorded from the last received bid, before the auction can be deemed definitively closed.
Automatic rebids in the event of a maximum bid (proxy bid) shall also be considered winning bids.
5.4. Awarding of lots At the end of each auction solution, following an investigative phase, the best bidders shall be sent a provisional award confirmation pursuant to Article 107 of the Italian Bankruptcy Law, against which they shall be required to make payments by the deadline set out in the specific sale conditions.
The provisional award shall be granted to the bidder who submitted the highest offer for each lot, or, in the absence of further rebids, to the bidder who is recognized as the first, in chronological order, to have completed the procedure for finalizing 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 deadlines set out in the specific conditions, failing which the deposit shall be forfeited and definitively lost.
The deed of sale shall be executed 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 commitment to purchase. If the successful bidder fails to pay the consideration within the deadlines set out in the specific sale conditions, or if the award should lapse, the sale shall be automatically terminated and the deposit shall be retained, according to the methods set out in the "Security deposit" section. In such case, the award shall be granted successively, in favor of the next highest bidder, who has completed the procedure described in point 5.1 or placed a rebid, on the basis of what is illustrated in point 5.2.
5.5 Other provisions Where required by law, the Principal, as the person responsible for the sale procedure, may exercise the power provided for by Article 107, fourth paragraph, of the Italian 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 awarding of lots in agreement with the Principal.
6. Obligations of the PrincipalPursuant to Article 107 of the Italian Bankruptcy Law, the Principal undertakes to give notice by notification to each of the mortgage creditors or creditors otherwise holding a privilege at least 20 days before the date set for the conclusion of each sale attempt, as well as to inform the Delegate Judge and the Creditors' Committee of the outcome of every 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 restriction burdening the real estate put up for sale shall be cancelled pursuant to Article 108 of the Italian Bankruptcy Law once the sale has been executed and the price fully collected. Unless otherwise provided in the specific sale conditions, any formalities for cancellation shall be carried out at the expense of the successful bidder.
7. Buyer's Premium
The compensation due to the Mandatario shall be borne exclusively by the purchaser and indicated as Buyer's Premium. It shall be calculated on the award amount of the asset, according to the methods indicated in the specific sale conditions.
8. Charges The notarial charges, statutory taxes and all expenses relating to the sale, whether fiscal or not, shall be borne by the purchaser. 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 the tax regime of the transaction and any reliefs that the purchaser intends to use. The Principal will 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 will finally ask the winning bidder whether it intends to use the first-home benefit or another tax benefit and will inform the Principal accordingly, so that the Principal can calculate the exact amount that the purchaser will be required to pay in terms of taxes.
The winning bidder must pay the expenses within and no later than the deadlines indicated in the specific conditions of sale.
9. Security deposit Participation in the auction is conditional on payment of a mandatory security deposit defined in the specific conditions of sale.
Before being enabled to participate in the auction, participants must pay the amount set out 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 deposit must be credited without fail before the auction deadline.
For payment by bank transfer, it is recommended to make a BIR-type transfer (significant amount transfer)
If auction participants do not win any asset, the deposit will be returned within 20 working days of the award, without interest.
If one or more lots are awarded, the security deposit will be returned after the purchaser 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 costs attributable to the Procedure, at the Principal's discretion, and to cover any other services provided by the Agent.
If the security deposit is paid by credit card, the deposit will be collected into the Agent's current account, which will return the amount so retained in the manner described above.
If the purchaser is awarded at least one lot at auction, the Agent, in agreement with the Principal, may deduct the deposit from the total amount owed by the purchaser.
If, in the event of an award, after paying the deposit, the bidder does not complete the purchase within the deadlines set out in the specific conditions of sale, both as regards the award price and the Buyer's Premium and any additional charges, the sale will be automatically terminated and the deposit will be retained as liquidated damages.
10. Payments The provisional winning bidder of one or more lots must comply with the specific auction conditions, which will specify the deadlines for payment both for the awarded lots and for the Buyer's Premium due as well as any additional charges, and the related compensation clauses in the event of failure to comply with the aforementioned 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 confirmation of provisional award.
If payment of the amounts due is not completed within the established deadlines, in agreement with the Principal, the sale will be automatically terminated and the security deposit will be retained as liquidated damages, with consequent forfeiture of the award.
11 . Transfer of ownership Ownership will be transferred only after full payment of the award price and expenses, as provided for in the specific conditions of sale, by notarial deed in the manner 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 give notice to the Delegated Judge so that he in turn may proceed with 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 terms provided for the payments set out in the specific conditions of sale have expired, 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 a compensatory penalty. The amount paid by the successful bidder as a security deposit shall, however, be retained in accordance with the rules set out in the Security Deposit section.
12. Guarantees GOBID INTERNATIONAL AUCTION GROUP S.r.l. is not responsible for the failure or partial correspondence of the descriptions of the lots present in the auction or in the announcements 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 objective and subjective issues arising from the use of an online auction or online announcement carried out via the internet for which GOBID INTERNATIONAL AUCTION GROUP S.r.l. cannot be held responsible.
GOBID INTERNATIONAL AUCTION GROUP S.r.l. is not liable for direct and/or indirect damage or liability except in cases of willful misconduct or gross negligence on its part. Absolutely GOBID INTERNATIONAL AUCTION GROUP S.r.l. is not liable for: direct actions of 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 provisions of the Code of Civil Procedure and the Bankruptcy Law.
The sale of immovable property is intended as forced (Art. 2919 c.c.). It is arranged for goods seen and liked in the state of fact and law in which they are found. In forced sales, there is no warranty for defects in the item. It cannot be challenged on grounds of damages. (Art. 2922 c.c.).
Any liability on the part of the Agent regarding the existence of third-party rights on the goods subject to the sale is excluded (Art. 2920 c.c.).
The sale of immovable property takes place in the state of fact and law in which they are found, with all any appurtenances, accessions, rights and actions, active and passive easements. The sale is by lump sum and not by measure, and without any warranty for defects or other lack.
ABUSES, VIOLATIONS, ENCUMBRANCES, COMPLIANCE WITH CURRENT REGULATIONS
For further information regarding any abuses, violations, encumbrances or lack of compliance with current regulations of the lots for sale, please refer to the attached appraisal.
The lots are sold as seen and liked in the condition in which they are found.
Viewing of the lots in auction is strongly recommended, GOBID INTERNATIONAL AUCTION GROUP S.r.l. or the Principal decline any responsibility for any errors, omissions and inaccuracies in the photos, descriptions and any other details indicated in the auction or in the announcements, 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
The buyer, by accepting these conditions, indemnifies GOBID INTERNATIONAL AUCTION GROUP S.r.l. and the Principal from any warranty or third-party claim.
In the event of any disputes arising regarding the interpretation of the provisions contained in the general and specific conditions reported on the platform, possibly translated into other languages, the Italian version of the text shall prevail.
Where not specified, the times reported in the specific conditions and on the platform refer to the time zone indicated in the server time published on the site
