Real estate assets
Regulations for online sales operations
The regulations for online sales operations are set out by Italian Decree No. 32 of 26 February 2015, published in Official Gazette No. 69 of 24 March 2015. This decree lays down the technical and operational rules for sales of movable property and real estate by electronic means in the cases provided for by the Italian Code of Civil Procedure (pursuant to Article 161-ter). You can read the full decree here.
Electronic sales operations (“Online auctions”)
These operations include all activities ranging from connecting bidders to the manager's portal, to identifying the highest bidder and/or awarding the sale.
Register of online auction managers
The regulation establishes a register of online auction managers, which must be incorporated entities authorised by the court. Each manager is required to set up a computerised register of online auction commissions. The Ministry monitors these operations annually.
Contents of the bids
Online auction bids must include:
- Identifying data of the bidder (tax code or VAT number)
- Judicial office of the procedure
- Procedure and lot data
- Description of the good
- Contact person for the procedure
- Bid price and deadline for payment
During the auction (i.e. the sale in which the goods are sold to the highest bidder) or at the deliberation stage, the judge or the contact person verifies that the bids are in order and commences sale operations (Art. 572 of the Italian Code of Civil Procedure).
Bid raises and observations
The manager displays a system on its portal to calculate the deadline for bid raises. Bid raises and observations are visible to all participants, to the judge and to the contact person for the procedure.
Participation in sales operations
The judge, the contact person for the procedure, the clerk of the court and other authorised persons may participate in sales without auction. The portal guarantees access to the bid data, ensuring anonymity by replacing the names of bidders with pseudonyms. The judge, contact person and clerk of the court may access all the data relating to the bids (art. 14, para. 2 and 3).
Ref. Chapter III (real estate sales) - Section I
This regulation is essential in guaranteeing the transparency and efficiency of online real estate sales, ensuring that all parties involved have access to the information and that the procedures are followed to the letter.
Types of online sales
Online synchronous auctions
With this type, bids and participation requests are submitted exclusively online (pursuant to Articles 12 and 13 of Italian Ministerial Decree 32/2015).
Mixed synchronous auctions
When the court so arranges, and in accordance with the provisions of Articles 12 and 13, participation requests may be submitted online or in paper format submitted to the Clerk of the Court’s Office. Those who participate online follow the same procedures as those who participate in person:
- those who have formulated a bid or requested participation online shall exclusively participate in the sale proceedings online;
- however, those who have formulated a bid or requested participation in paper format shall participate by physically appearing before the judge or contact person for the procedure. Pursuant to Article 20 para. 3, data concerning paper-based bids or requests, as well as bid raises and observations from participants before the judge, shall appear on the auction manager’s portal and be made visible to online participants.
Asynchronous auctions
This occurs when the judge orders that an auction shall be held with bid raises made within a set time limit. Bids must be submitted exclusively online, in accordance with Articles 12 and 13. Once the bids have been received, the judge or the contact person for the procedure shall verify that they are in order (as stipulated in Art. 18) and invite the bidders to proceed with a highest-bid auction. The online auction manager all inform participants of each bid raise by email (in accordance with Art. 12, para. 1n) and SMS. At the end of the set time frame for the auction, the manager shall notify all participants of the highest bid and send the list of bid raises, the data on the bidders, and the bid bonds paid to the judge. The judge or contact person for the procedure shall proceed with the sale in accordance with Article 574 of the Italian Code of Civil Procedure.
Completion of the sale
At the end of the auction, the manager shall notify the judge or contact person for the procedure of the highest bidder’s data, the bid bond and the bid price. The judge shall proceed with the sale in accordance with Article 574 of the Italian Code of Civil Procedure.
Participating in a sale
To participate in an online sale, you must send your irrevocable bid to the Italian Ministry of Justice within the deadline indicated in the notice of sale.
Submitting an online bid
- Compiling the form: use the “Online bid” web form on the Italian Ministry of Justice’s website. You can find the form by clicking on “send bid” on the item’s page.
Required attachments
- complete all required information;
- attach all the documentation indicated.
- Sending by certified electronic mail: after compilation, the form generates an encrypted .zip file to be sent to the Italian Ministry of Justice by certified electronic mail.
- Digital signature: if you already possess certified electronic mail for online sales, the digital signature may be omitted.
- Power of attorney: if the bid is placed jointly by a number of people, attach the power of attorney issued by the other bidders.
- Paper-based bids: for some sales only (mixed synchronous types), it is possible to submit bids in paper format.
Updated compilation manual
Check the manual for filling in and sending the form here.
Attending a sale
SpazioAste allows users to attend an online auction as a spectator. The request must be authorised by the professional acting as contact person for the procedure and sent before the deadline for the submission of bids.
- Sending the request: click “Participate” on the detailed page for the item and fill in the “Attend auction” form.
- Access credentials: authorised spectators will receive credentials via email to view the sale as it is held.
Return of bid bonds
Fill in the form in this section to request the return of the bid bond paid if you did not receive your participation credentials due to errors during the procedure. The request is handled via this form only for courts using the Astalegale manager's current account (SpazioAste online platform). If the court is not listed, contact the auctioneer or the receiver directly.
We cite the publication, in the Official Gazette Vol. 69 (24 March 2015), of Decree no. 32 (26 February 2015), “Regulations for the technical and operational rules for carrying out sales of personal property and real estate online in those scenarios contemplated by the Code of Civil Procedure, pursuant to Article 161-ter of the implementing provisions for the Code of Civil Procedure.
http://www.gazzettaufficiale.it/eli/id/2015/03/24/15G00045/sg
“Online sales transactions” means those operations conducted from the moment bidders log onto the online-sales operator’s portal, to the awarding of the winner, or the determination of the highest bidder.
These regulations establish a registry for online sales operators, meaning those entities, formed as corporations, authorised by the judge to operate online sales. The application for listing in the registry must indicate one or more Court of Appeals districts where the applicant intends to provide the online sales service. Every online sales operator is required to establish a digital registry of its online sales engagements. The online sales operator may not participate - whether directly or through a strawman - in any sales transaction for personal property or real estate subject to any pending proceeding before the judicial offices falling under the aegis of the Court of Appeals where such operator is registered. The Ministry conducts annual statistical monitoring of online sales transactions undertaken by such operators.
The bid for an online sale must contain, among other things, identifiers for the bidder, with an explicit notation of their Tax ID or VAT Number, the judicial office where the procedure is pending, identifiers for the proceeding and for the lot, and a description of the personal property or real estate, the contact person for the procedure, and all sales information. The bid price, and the terms for the related payment are specified, unless the procedure involves an application to take part in the auction. During the auction or when assessing a bid, pursuant to Article 572 of the Code of Civil Procedure, the judge or contact person for the proceeding, having vetted the bids for compliance, green lights the sales transactions. The online sales operator programmes (and can view via their own portal) an automatic system to calculate the deadlines for submitting bid raises. All bid raises and any comments by the individual bidders appear on the online sale operator’s portal, and can be seen by all other participants, by the judge, and by the contact persons for the procedure; every determination by the latter occurs in the same manner. The judge, the contact person for the procedure, and the clerk can take part in the online sales procedure for all sealed-bid sales (silent auction). Other persons, if authorised by the court or by the contact person for the procedure, can take part in the same manner. Regardless, the online sale operator's portal allows bidders access to the data contained in the digital document defined under Article 14(3), which replaces the bidders’ names with pseudonyms or other unambiguous yet anonymous terms. The judge, the contact person for the procedure, and the clerk can access all data contained in the bid noted under Article 14(2).
See Chapter III (foreclosure sales) - Section I
The online sales methods contemplated under the regulations are different.
Synchronous Online Sale
Where a sale occurs in a synchronous fashion, the bid and the application to participate in the auction may only be submitted online pursuant to Articles 12 and 13.
Part-Synchronous Sale
When the judge allows it, the bid and the application to participate in the auction may be submitted pursuant to Articles 12 and 13, or on an analogue medium filed with the clerk’s office. Anyone submitting an online bid or application will take part in the sales transactions online as well. Those submitting a bid or application on an analogue medium will participate by appearing before the judge, or before the contact person for the procedure. Subject to the provisions of Article 20(3), the contents of the bids, or the applications created using an analogue medium, as well as the bid raises and any participant comments on the sales transactions for those appearing before the judge or the contact person for the procedure, will appear in the online sale operator's portal, and be visible to those participating in the online sales procedure.
Asynchronous Sale
The judge may allow a sealed-bid sale to take place with bid raises made within a certain arc of time. The bid may only be submitted online, in accordance with Articles 12 and 13. Once the bids have been received, the judge or the contact person allows for a hearing of the parties, and any registered creditors who have not intervened in the action, and completes the vetting required under Article 18, inviting the bidders to take part in an auction wherein the highest bid will win, in the manner set forth in paragraph 1. The online sales operator will provide an alert via email to the address described in Article 12(1)(n) and via text message as each new bid raise is submitted. At the end of the established period for the auction, the online sale operator will provide notice of the highest bid submitted to all participants via the procedure noted in paragraph 2. The judge or the contact person for the procedure shall submit the list of bid raises, and the list of those placing such raises, disclosing the identifiers for the winning bidder, the down payment made by the same, and the price offered, as well as all identifiers for other bidders, the down payments made by the same, and the bank or postal accounts from which such funds were transferred. The court or the contact person for the procedure will then allow the sale to be consummated, and will take all steps required under Article 574 of the Code of Civil Procedure.
See Chapter III (foreclosure sales) - Section II