This document details the services offered by BIDX1 ESPAÑA SL, (hereinafter “BidX1”), and the terms and conditions that govern the Online Sales process through its website (hereinafter, the "Terms and Conditions"). This process may be referred to as Auction, Sales Day and/or Sales Period throughout this document, as well as other documents where BidX1 is a party, referring to the Online Sales system carried out on the BidX1 platform by submitting a binding bid by the user.
BidX1 offers through its online platform https://www.bidx1.com/ (hereinafter, the "Digital Platform") the possibility of acquiring real estate (hereinafter, the "Properties") through a private online competitive process conducted on the Digital Platform.
The participation in the Digital Platform, as well as the acquisition of the Properties by means of this platform, are governed by the following Terms and Conditions. We recommend that you read them carefully and, if you consider it convenient, download or print the present document for your reference.
The participation in the BidX1 Online Sales Process implies the acceptance of these Terms and Conditions, declining to make any claim about them. Therefore, the Purchaser and the various participants agree that these Terms and Conditions shall apply to them and be binding on them in the obligations and rights that correspond to them.
These Terms and Conditions shall apply to all the participants in the Online Sales Process:
(a) Purchaser
A natural or legal person, national or foreign, who is registered on the BidX1 Website. The Purchaser is interested in buying a Property offered for sale through the Online Sales Process which is carried out on the Digital Platform.
(b) Potential Purchaser
The Potantial Purchaser or Purchasers who have been authorised and approved by BidX1 to participate in the Auction in accordance with the provisions of these Terms and Conditions.
(c) Multiple Purchasers
Individual(s) or legal entity(ies), national(s) or foreign, whose information has been provided by the Purchaser in the Registration process to Participate in the Auction, who shall accept their incorporation as Multiple Purchasers through the procedure established by BidX1 for this purpose as per indicated in the Rules of these Terms and Conditions.
(d) Bidder
A natural person, national or foreign, who acts for themselves or on behalf of a legal person Purchaser acting as: (i) sole director; (ii) joint director; (iii) managing director or; (iv) attorney-in-fact through a special power of attorney executed in public deed, whose information has been provided by the Purchaser in the Registration Process to participate in the Auction, who shall accept its incorporation as Bidder through the procedure established by BidX1 for this purposes as per indicated in the Rules of the Online Sales Process.
In the event that the Purchaser is a natural person, it shall be understood for all purposes that the Bidder is the same person as the Purchaser. The Purchaser takes full responsibility for any use of its account by a third parties.
In case there are Multiple Purchasers, the Bidder shall be the natural person who has been declared by the Purchaser during the Registration process to Participate in the Auction and, therefore, shall represent the Purchaser and the Multiple Purchasers during the Online Sale.
(e) Funds Provider
A natural or legal person, national or foreign, that makes the payment of the Guarantee Deposit, being either the Purchaser itself or a third party that is designated for these effects. The Funds Provider declares that the funds it uses to pay the Guarantee Deposit are of legal origin. In addition, it will be jointly and severally liable with the Purchaser or the Multiple Purchasers, as applicable, for the full payment of the Guarantee Deposit and the obligations that correspond, in accordance with the Rules of the Online Sale, in these Terms and Conditions and, where applicable, of the payment of the Final Sale Price of the Property
(f) Seller
Individual(s) or legal entity(ies), national or foreign, owner(s) of a Property located within the Spanish territory, interested in putting it up for sale through a private online competitive process carried out on the Digital Platform. The Seller shall be responsible for the veracity, authenticity, legitimacy and accuracy of the documentation and/or information regarding the physical and legal situation of the Properties that will be uploaded to the Digital Platform and to set the Minimum Sale Price and / or Minimum Conditioned Sale Price.
(g) Invited Opening Bid or Guide Price
This is the price at which bidding will start on the day of the Digital Sale, Potential Buyers will not be able to bid below this level. If a Potential Buyer places a bid at this level it does not guarantee a binding sale, as in some cases the Invited Opening Bid and the Minimum price will differ. The Opening Bid for each property will be listed on the property page.
(h) Reserve Price or Minimum Price
The reserve price is the minimum price the seller is prepared to accept for the property. If the bidding does not reach the reserve price the seller is not required to sell the property. Once the minimum price has been reached and bidding closes the Vendor will automatically accept the highest bid and the sale becomes binding. The reserve price is not required to be disclosed prior to the auction taking place. The Online Platform will display the moment at which the Minimum Sale Price set by the Vendor has been reached.
At the time of registration, the Bidder and the participants fully accept the Terms and Conditions.
Users who do not comply with the provisions of these Terms and Conditions will not be able to formalise the sale of the Properties through the Digital Platform.
The competitive process of acquisition of the Properties through the Digital Platform consists of the following stages:
(i) Registration Process and registration as Purchaser
(ii) Registration Process to Participate in the Auction
(iii) Online Sale
(iv) Purchase and Sale of the Property Process
1. In order to be able to place a bid on a Property that is available for sale on the Digital Platform, prior registraton is required.
This registration allows you to create an account at www.bidx1.com. Once this is done you will be able to sign into your account using your username and password. Once your account is activated, the user will have acess to the legal documents for properties that are available for sale.
2. BidX1 allows the registration of those persons, natural or legal, Spanish or foreigners, with legal capacity to contract in accordance with the Spanish legislation. Any person who is legally incapacitated may not participate in the Auction organised through our Digital Platform.
We remind you that the user account and password of the Digital Platform must be personal and non-transferable.
3. The Purchaser shall be responsible for any inaccuracies, misstatements or errors in the information that it has provided during their registration process and, in particular, of the content of the declaration of real ownership (in the cases of Purchasers that are legal entities).
Similarly, the Purchaser shall be responsible for completing and providing all the information and documentation required in the registration process of Multiple Purchasers, from the Bidder and from the Funds Provider.
4. Our Privacy Policy which sets out the terms on which we process any personal data we collect from you, or that you provide to us. By using our site, you consent to such processing and you confirm that all data provided by you is accurate. The participants declare that they have read and accepted the scope of the limitation responsibility of BidX1 as set forth in the BidX1 Policies Data Privacy Policy (Click here to view) and terms of use of the Website (Click here to view).
1- Registration
The Online Auction takes place on the day and time published in the corresponding announcement on the Digital Platform. BidX1 reserves the right to change the start and/or end time of the event. In this case, registered participants will be notified of this by e-mail. This modification may be made up to 24 hours before the scheduled start time.
1.1 This Registration must be completed in order for the Purchaser to be able to participate in the Auction.
The Purchaser must register for each Auction for each Online Sale it wishes to participate in.
1.2 The Purchaser, the Multiple Purchasers and the Bidder, as applicable, shall provide with the information and/or documentation found in Annex 1 of this document to formalise their registration process as Purchaser, Multiple Purchasers, Bidder or Provider of Funds.
Registration to Participate in the Auction requires the Purchaser:
(i) To select the Property that it is interested in acquiring
(ii) To provide information and/or documentation, as appropriate, about the Multiple Purchasers, the Bidder and the Funds Provider, according to their needs and the interests of the Seller or BidX1. To this end, the Purchaser represents and warrants to BidX1 that it has the authorisation and consent of the Multiple Purchasers, Bidder and Funds Provider to process its data.
Purchaser shall be responsible for any inaccuracies, misrepresentations or errors in all information and/or documentation provided by Purchaser in the Registration to Participate in the Auction
In this context, BidX1 may send an email communication to the Multiple Purchasers and to the Bidder and Funds Provider declared by Purchaser in the Auction Registration so that they can:
(a) Accept and agree to the information provided by the Purchaser, as well as accept the Terms and Conditions and Legal Documents and, therefore, register as Multiple Purchasers, Bidders or Funds Provider, as applicable, in the Registration to Participate in the Auction.
(b) Reject to register to participate in the Auction.
(iii) Provide bank account and/or credit/debit card information, as applicable, for the payment of the Guarantee Deposit. If there is a Funds Provider, it must clarify the nature of the contract for which it is lending the funds (donation, loan or other causes - specifying these, if applicable).
The acceptance of the Terms and Conditions by the Multiple Purchasers, by the Bidder and by the Funds Provider will not be necessary when the Purchaser proves that it acts on their behalf, providing the corresponding public deed of power of attorney or appointment of office. In the case of companies in which the administrators are of a joint nature and the Purchaser does not provide a power of attorney, the acceptance of the Terms and Conditions by all the joint administrators shall be necessary.
If (i) the representation referred to in the previous paragraph is not evidenced and (ii) the Multiple Purchasers, the Bidder or the Funds Provider do not accept these Terms and Conditions, and even if the Purchaser decides to proceed with the Online Sale Process, the Purchaser will be personally responsible for the compliance of its obligations derived from these Terms and Conditions, for the acquisition of full ownership of the Property (in case its offer is successful) and for the payment of the price. He shall also be responsible for the veracity of the statement that the amounts paid by the Funds Provider are of legal origin. All this without prejudice to BidX1's faculty to reject its incorporation into the Registry to participate.
Registration to participate in the Auction is contingent upon BidX1's evaluation of the information and/or documentation provided by the Purchaser in this process. Therefore, BidX1 reserves the right to request and/or require further information and/or documentation provided by the Purchaser in connection with its obligations as a regulated entity with regard to the prevention of money laundering and the financing of terrorism (in particular, where a Funds Provider exists and has not accepted these Terms and Conditions).
In this context, BidX1 will be able to:
(a) Unauthorise Registration to Participate in the Auction when:
In this case, BidX1 might send an email communication to the Purchaser informing of its decision not to authorise its Registration to Participate in the Auction.
(b) Authorise the Registration to Participate in the Auction, in which case BidX1 will communicate by email to the Purchaser the approval of its registration, thus allowing them to participate in the Online Sale.
In any case, the Purchaser (and, where applicable, the Multiple Purchasers, Bidder or Funds Provider) shall release BidX1 from liability in the event that they are not admitted or do not receive notice of non-admission or non-authorisation to participate in the Online Sale by submitting and/or uploading to the Digital Platform the required documentation and/or making the payment of the Guarantee Deposit 24 hours prior to the date and time set for the holding of the Online Sale.
(vi) To make the payment of the Guarantee Deposit.
2- Identification and authentication process
2.1 Once the participants create their account the account has been created on the website, they will automatically be sent an email to the email account or a SMS to the mobile number provided in the registration form in order to confirm their account set up. If, for any reason or technical failure, three (3) attempts have been made and they have not received the text message correctly, verification will be carried out by sending an email to the address they have indicated in order to complete the process.
2.2 In case of legal persons, they will express their acceptance during the registration process to participate in the Auction through their digital signature which will be directly provided by BidX1, in those cases where it is a necessary requirement.
This process is carried out for the proper use of the services provided by the Digital Platform allowing the user to be authenticated.
3- FullStory
Throughout the online sales process and/or in the registration process, BidX1 uses the "FullStory" tool. FullStory is a replay web application that is used to help improve the customer experience, study website usability and customer behavior, and address customer service inquiries. BidX1 uses FullStory to be able to record all digital auction interactions on its website to improve the Purchaser's customer experience. FullStory will record data relating to the Purchaser's interaction with the BidX1 website, the following information may be recorded.
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USAGE PATTERNS |
TECH SPECS |
NAVIGATION |
PERSONAL INFORMATION |
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- Clics - Mouse movements - Scrolling - Typing (except sensitive information) Usage patterns illuminate areas of a website that are confusing or underused, allowing web designers to improve customer experience and build better features. |
- Browser - Device type - Operating system - Viewfinder size - Script erros - IP address Bugs and errors are often particular to a specific web browser or device type. This information helps developpers build and ship fixes faster |
- Pages visited - Referrers - URL parameters - Session duration Knowing the most popular pages and sources of referral traffic help product managers and marketers improve the quality of content and advertising. |
Data controllers may only send this data with consent or legal basis. - Display name - Email address - App-specific data Account information helps web teams understand your unique experience an troubleshoot any problems you may be having.
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FullStory does not record passwords, payment information, or Social Security numbers. Furthermore, FullStory does not use collected information for its own purposes and BidX1 has sole ownership of and access to recorded data. For any specific queries regarding FullStory, Purchasers may contact BidX1 at the details shown in BidX1’s website.
4- Know Your Customer
BidX1 uses “Know Your Customer”, sharing personal data from registered users with the “Know Your Customer” online platform, with the aim of complying with the AML/CFT regulation. “Know Your Customer” provides identity verification services and assist in the collation of due diligence documentation on prospective and existing customers to comply with applicable National and International Anti Money Laundering legislation.
BidX1 acts with the greatest rigor in the sale of the Properties that it commercialises through the Website https://www.bidx1.com.
Through the Digital Platform it will be possible to acquire the Properties put in commercialisation by the Online Sales system during an Auction.
1- Information and price of the Properties for sale
The description of the Properties and the legal documents will appear on the Digital Platform.
1.1 The Seller shall be responsible for the truthfulness, authenticity, legitimacy, and accuracy of the information, documentation and information about the physical and legal status of the Property that will be uploaded to the Digital Platform, and BidX1 assumes no liability in the event that the documentation of the Property being sold online contains errors or is inaccurate.
1.2 As a general rule, the information contained on the Website will be in Spanish. However, the information and/or documentation of the Property provided by the Seller, whether public or private (licenses, certificates, contracts entered into in relation to the Property, etc.) may be available in those other official languages in Spain, in the territories where the Property is located.
1.3 The Purchaser shall review the information that is available on the Digital Platform. It is recommended that, before making an offer, the Purchaser contacts a legal advisor to evaluate the information available on the Digital Platform and, in particular, the information provided by the Land Registry, as well as any other information and/or documentation that the Purchaser may obtain by its own means. The auctioneers have not carried out valuations of any of the Lots in the auction. Consequently, you should not treat any reserve price that is published in respect of a Lot nor any estimate or suggestion as to the price for which a Lot may be sold or price that you might consider bidding for a Lot as being a valuation for that Lot. It is your responsibility to decide how much you should bid for any Lot.
1.4 The Invited Opening Bid or Guide Price will be available in each Property's information. This Invited Opening Bid or Guide Price corresponds to the price from which The Potential Bidder or his Bidder may start placing their bids during the Auction.
1.5 In cases where the Vendor has established a Reserve or shall make an offer with an amount of money equal to or greater than the Minimum Sale Price and this price is not met during the Auction, the Property shall not be sold. As such, the deposit amount shall be refunded by BidX1 from the bank card or transferred to the source account within a maximum period of three (3) calendar days from the end of the Auction. In the cases where the winning bid is equal to or higher than the Reserve or Minimum Sale Price,for the Property it shall be a binding sale process, and the Online Sale procedure contained in clause IV shall applywishes to acquire.
1.6 Some properties may be Subject to confirmation. In these cases, the highest offer for the Online Sale, will be subject to approval by the Seller. Therefore, until the Seller accepts the highest offer, this price will not be binding on the parties. The Seller will issue a response within fourteen (14) business days of the end of the Online Sale. Exceptionally and only in cases where the Vendor has not issued a response within fourteen (14) business days, the Buyer, by sending an email, can require BidX1 to withhold the Bidding Deposit for a longer period of time. In cases where the highest offer is accepted by the Seller, the Online Sales process contained in clause IV shall apply.
1.7 All the Properties to be sold through the Digital Platform will have a start and an end date, which will be clearly published on the page where the Property is shown.
1.8 BidX1 shall, at the Seller’s request, be entitled to remove a Property prior to the Auction in accordance with these Terms and Conditions. BidX1 undertakes to announce this circumstance prior to the commencement of the Auction to the Potential Purchasers in which case the Guarantee Deposit will be released from the card or transferred to the bank account from which the payment was made within a maximum of three (3) calendar days from the date of the communication. Upon return of the Guarantee Deposit, BidX1 shall not be liable for the removal of the Property.
2- Guarantee Deposit
2.1 In order to participate in attend the Auction it will be a necessary and essential condition to pay a deposit (the "Guarantee Deposit") through the following method.
2.2 By bank transfer made directly by the Purchaser to the clients account of BidX1 Spain, the details of which are provided by BidX1 Spain during the registration process, for the amount indicated in Property Particulars. Once the deposit payment has been paid, please email the proof of having made the bank transfer to: justificantesdepago@bidx1.com. Bidders will also be able to pay the Guarantee Deposit by credit/debit card., in which case the amount of money corresponding to the Guarantee Deposit will be retained.
2.3 The amount to be deposited from the Guarantee Deposit will be published in the announcement of the lot.
2.4 Once the auction has ended, in the event that the Potential Purchaser is not awarded the Property, the Guarantee Deposit will be released or returned via bank transfer to the bank account from which the payment was made within a maximum period of three (3) calendar days from the closing of the Online Sale or from its receipt in the BidX1 account.
2.5 In addition, the Guarantee Deposit will be released from the card or transferred to the bank account from which payment was made, in the event that the Registration to Participate in the Auction is not accepted by BidX1 either because it fails to complete and provide all information and/or documentation required in the Registration process, or, having submitted all information and/or documentation required in the Registration process, it fails to comply with the requirements and/or demands of BidX1's internal policies, or to the Vendor’s Admission Policies., or the prevention of money laundering and terrorism financing, as detailed in clause 5 hereof.
2.6 If, on the contrary, the user is awarded the Property, the Guarantee Deposit shall be considered as a Arras Penitenciales according to the article 1,454 of the Civil Code, being transferred in favour of the Seller and shall be charged as part of the sale price of the Property subject to the Online Sale. It will be understood that this amount includes the proportional part of the VAT/IGIC that may be due for its handing over to the Seller (in those cases in which the sale is subject to VAT/IGIC and the taxable person is not reversed).
3- Start and development of the Online Sale and/or Sales Period
3.1 Only the Purchaser who has received the email from BidX1 authorising and approving their Registration can participate in the Online Sale and/or Sales Period.
3.2 The Online Sale will be conducted by means of an online competitive process through the Digital Platform, as indicated on the BidX1 website, and will contain the following relevant information:
(a) Date and time of the Online Sale
(b) Amount of the Guarantee Deposit
(c) Invited Opening Bid or Guide Price
3.3 At the beginning of the Online Sale and/or Sales Period, the registered Purchaser must be connected to the Internet and may submit its bids from the date and time established in the Auction until the closing period of the same established in the information of the Property that is within the Digital Platform.
3.4 All offers are registered on the Digital Platform as they are made by the Purchasers. The system records the offer at the time it is received, regardless of the time the user makes the offer. Please note that the time of receipt may be affected by the services available to the user (your internet access, your bandwidth, your terminal, etc.).
3.5 In the event that any Potential Purchaser or its Bidder makes a Bid sixty (60) seconds prior to the period established as the closing or termination of the Online Sale, the Digital Platform will automatically extend sixty (60) second period for the other Potential Purchasers or their Bidders to improve their offers and so on, until a winner of the Online Sale is determined.
3.6 The winner of the Online Sale will be the Potential Purchaser who has made the highest bid, directly or through its Bidder, i.e. its Bid has been for an amount of money higher than that of the other Potential Purchasers (the "Winning Bid"), unless if this was the offer Subject to Confirmation, in which case the winner of the Online Sale shall be the Potential Purchaser whose offer has been the highest of all registered offers and approved by the Seller, or in the case of a Lot with a Minimum Sale Price, where the winner of the Online Sale shall be the Potential Purchaser whose bid has made the highest value offer and which is equal to or greater than the Minimum Sale Price.
3.7 The Winning Bid shall be the Sale Price of the Property, which shall be paid by the Potential Purchaser who wins the Online Sale in favour of the Seller.
4- Closing and communication of the Winning Offer
4.1 An Online Sale is considered closed when the closing date and time foreseen in the announcement of the same has been reached on the timer, except if the automatic extension referred to in point 3.5 above occurs.
4.2 Upon completion of the Online Sale and/or Sales Period, BidX1 will notify the Potential Purchaser by email that it has placed the highest registered bid, indicating that its bid was the best registered within the timeframe and therefore that it is the winning bidder of the property.
4.3 The Participants release and exonerate BidX1 from all liability for any type of technological and/or system failure of its Website and Digital Platform that may result during the entire Online Sale Process and, in particular, during the development of the Online Sale. If such failure(s) can be resolved and/or have a solution in the near future, BidX1, in order to the impact on the participants, may modify the start and/or end time set for the event. In this case, registered participants will be sent an email notification informing them of this situation. Likewise, if they will only affect one or more specific lots and not the whole, the modification could be made exclusively on these lots. Modification as a solution would apply last, aiming at the minimum intervention necessary and provided that it will pursue a fairer process consistent with the auction rules.
In addition, if a technical issue during the auction is detected after the lot or auction is closed, the lot or lots affected may be reopened, with prior notification by email to those users involved. The reopening as a solution would apply as a last resort, aiming at the minimum intervention necessary and provided that it will pursue a fairer process consistent with the auction rules.
5- Prevention of money laundering and financing of terrorism
5.1 The Purchaser represents that it understands that BidX1 and the Seller are obligated to comply with anti-money laundering and anti-terrorist financing regulations. In this regard, they undertake to provide and deliver all documents and information that may be required by BidX1, Seller or any third party designated by Seller in order to comply with its anti-money laundering and anti-terrorist financing policies and procedures. You further agree that, within the framework of such money laundering rules, BidX1 and/or Seller, as applicable, may individually or jointly, among others:
(a) request additional information and/or documentation
(b) keep the transaction data in order to comply with the obligations on prevention of money laundering
5.2 For clarification purposes, in the event that there are Multiple Purchasers, or in those cases where there are Financiers, each and every Purchaser shall provide the required documentation and information and each and every Purchaser shall satisfactorily exceed the indicated money laundering prevention control.
5.3 In this sense, in the event that the required documentation is not provided or does not comply with internal standards or policies on money laundering and terrorist financing of BidX1 and / or the Seller, as appropriate and as a result of the obligations imposed by legal imperative, they may: (a) not the public deed of sale; (b) in general, take all actions corresponding to them as regulated entities; and/or (c) withhold the Guarantee Deposit as a penalty for non-compliance.
5.4 Bearing in mind that the foregoing derives from obligations imposed on BidX1 and the Seller by legal imperative, the Purchaser may not, under any of these concepts, claim and/or demand from BidX1 and/or the Seller: (a) to formalise the purchase and sale of the Property, nor (b) the payment of indemnities.
1- General Aspects
1.1 Once the Online Sale has ended and the transfer of the Property to the successful Purchaser has been approved, BidX1 will contact the Seller and the Purchaser so that on the date, time and Notary's office determined in accordance with the information on the Property detailed in the Digital Platform, they can formalise the deed of sale of the Property.
1.2 The Purchaser will be directly responsible for the formalisation of the deed of sale of the Property and the payment of the full sale price within the period established according to the information of the Property described on the Digital Platform.
Likewise, the Purchaser shall be jointly and severally liable for any breach of any obligation by the Multiple Purchasers, the Bidder, the Funding Contributor, and the Provider of Funds, as applicable to them.
For these purposes, a Funding Contributor is considered to be the individual(s) or legal entity(ies), national or foreign, that is not a Purchaser and contributes to the acquisition of the property by means of a contribution of funds, in any form other than that foreseen for the Provider of Funds. In other words, the Funds Provider does not intervene in the Online Sales Process through the Digital Platform, but it does contribute with the delivery of funds in the purchase and sale. For this reason, it is clear that the obligations relating to control policies assumed by the seller and/or Bidx1 within the framework of money laundering regulations will apply to it.
1.3 Any claim or controversy which arises or may arise between the Purchaser and the Bidder, the Purchaser and the Multiple Purchasers, the Purchaser and the Funds Provider, the Purchaser, the Funding Contributor and, in general, between the Purchaser and any other party shall be resolved internally between them, exempting and releasing BidX1 from all responsibility for the information and/or documentation declared by or between them, acts, omissions and, in general, for any controversy that may cause any or all of them in the Online Sale Process and, in particular, in the development of the Online Sale.
1.4 The Seller shall have the right to withdraw from the formalisation of the purchase and sale deed of the Property without generating any type of compensation and not be reimbursed the double of the Arras to the Purchaser, in case it evaluates and considers that the Purchaser, as well as any Funding Contributor involved in the operation, does not comply with internal policies and procedures for the prevention of money laundering of capital and financing of terrorism, or to the Vendor’s Admission Policies, without considering in any case as a cause for withdrawal of the Seller given that its obligations as liable party are of mandatory nature.
1.5 BidX1 will contact the successful Purchaser by e-mail (to the account indicated by the Purchaser in the registration process), informing the Purchaser of the need to complete within the established deadlines the control procedures to be carried out by the Seller with respect to the prevention of money laundering and financing of terrorism (by itself or through the natural or legal person(s) that it deems appropriate).
1.6 As a consequence of the statutory obligations, regarding prevention of money laundering, the Seller may:
(i) Unauthorise the sale to the Purchaser / to the Multiple Purchasers that were successful bidders of the Digital Sale, in this case, withdrawing from the sale (without the right of the Purchaser to claim compensation of any type for this reason). The formalisation of the public deed of sale will not happen, when:
(a) The Purchaser does not complete all the information or does not provide the documentation required in this respect prior to the execution of the public deed of sale or that which is required additionally in a way, that it is clear from his/her actions that he/she has no intention to buy the Property.
(b) Having completed all the information and provided all the required documentation, it does not comply with Seller's internal standards and policies.
(c) Having completed all the information and provided all the required documentation, it gives rise to the existence of a risk or a potential risk of violating or affecting any legal provision in such matter.
(ii) Grant an extension to the Purchaser to grant the deed at a later date, reserving the right to claim in that case the expenses that such change in date may have caused to the Seller. In this case the Purchaser will be notified by email of its decision in this regard.
In the cases provided for in paragraphs (a), (b) and (c) of paragraph (i) above, the Seller will retain the Guarantee Deposit as a penalty, as this will be considered as a cause for withdrawal on Buyer side.
1.7 The granting of the sale and purchase public deed of the Property shall take place as long as the Purchaser who was the winner of the Property in the Online Sale in the Auction has satisfactorily passed the control procedures in the matter of money laundering regulations and financing of terrorism of the Seller.
1.8 Previous requirements: to grant the sale and purchase public deed, the Purchaser must have satisfactorily passed the control procedure with respect to the prevention of money laundering, as indicated above, and must have all the documentation necessary for the granting of a public deed in Spain in accordance with the notary and mortgage legislation applicable at any given time and the regulations on the prevention of money laundering and the financing of terrorism.
2- Term
2.1 The sale and purchase public deed shall be granted, once the requirements have been met with regards to the regulation of money laundering and financing of terrorism of the seller indicated in paragraph 5 of this document, within the period indicated in the corresponding section of the Digital Platform in which the legal information of each Property is provided. Likewise, for certain Autonomous Communities, including (but not limited to) Catalonia, the Balearic Islands, Valencia and Andalucías´ special regulations regarding the first refusal and pre-emptive rights of the Public Administration, or the authorisation prior to the sale of certain protected housing. As an example, for residential properties located in Catalonia and the Balearic Islands and for residential assets or social housing located in the Valencian Community or in Andalucía, this period may be extended by a maximum of (a) up to 60 calendar days from the date on which the intention to formalise the sale is notified to the Agency or the Regional Ministry of Housing, Public Works and Vertebration of the Territory (“Agencia de la habitabiliad o la Consejería de la Vivienda, Obras públicas y vertebración del territorio”) or to the Andalusian Ministry of Housing (“Consejería de Vivienda de Andalucía”), in order that these can exercise the first refusal right, or (b) until the public entity has issued a resolution in which it has waived their legal right to exercise preferential acquisition. In these cases, the Seller (or the natural or legal person designated by the Seller) will notify the administrative silence or the resignation of the Administration to the Purchaser by an e-mail to the address provided by the Purchaser during the registration process, describing the exact date and time of the granting of the deed of sale and the data of the Notarys´ Ofiice and the authorising Notary.
2.2 In those cases in which any of these bodies issues a resolution communicating its decision to exercise its right of first refusal over the Property, the public deed of sale will not be granted and the Seller will return to the Purchaser (or to the Multiple Purchasers) the amount of the Guarantee Deposit, within a maximum period of seven (7) working days, without either Party having the right to claim compensation of any kind from the other, as under no circumstances it will not be considered as a cause of withdrawal by the Parties.
3- Purpose
3.1 The Property is acquired as a certain body (“cuerpo cierto”) and in the physical, legal and urban conditions in which it is, comprehended and accepted by the Purchaser, as well as the fact that such circumstances have been taken into consideration for the Price.
3.2 In this sense, the Purchaser/Multiple Purchasers declare, to comprehend and accept that they have been provided with all available information on the Property and that BidX1 acts as the Seller's real estate agent and is therefore not responsible for the condition and/or physical and/or legal condition of the properties nor for the veracity and/or accuracy, authenticity and precision of the information provided by the Seller on the Properties.
4- Price
4.1 The sale and purchase price will be the final price that the Lot reaches during the Auction, and which is finally accepted by the Vendor in those cases where it is a price which is Subject to Confirmation. This price will be fully paid by the Purchaser/Multiple Purchaser on the date on which the sale and purchase public deed is granted, for which purpose the part already paid as Guarantee Deposit in the Online Sale will be withdrawn on that date and the difference will be paid by the Purchaser up to the total Price. The Price must be paid in any of the ways indicated in the section corresponding to the legal information of each Property in the Digital Platform, including (a) OMF bank transfer; (b) bank check drawn on behalf of the Seller; or (c) any of the foregoing.
5- Content
5.1 The contents of the deed shall in all cases conform to the model of public deed of sale that is attached to the corresponding section of the Digital Platform in which the legal information of each Property is provided, such model being considered an integral part of the Terms and Conditions of Sale, and therefore, as comprehended and accepted by the Purchaser. Therefore, it will not be possible to negotiate the Clauses of said deed nor its modification, except in those minimum adjustments that are necessary to adapt the deed to the specific conditions of the Parties and of the Property.
6- The Notary's Office
6.1 The Seller suggests in the corresponding section of the Digital Platform where the legal information of each Property is provided, a notary's office in which to grant the public deed of sale. However, in case the Purchaser is not satisfied, he may suggest in advance another notary's office of his choice where the deed of sale will be granted, not being entitled to impose a notary with no reasonable connection to the elements of the transaction.
Likewise, in cases in which the Purchaser has requested financing for the purchase and Law 5/2019, of 15 March, regulating real estate credit contracts, applies, the purchase may be formalised together with the mortgage credit contract, at the notary's office chosen by the Purchaser. For the sake of clarity, the purchase shall in no case be deemed conditional on the Purchaser obtaining financing, so failure to obtain it will be considered cause for withdrawal by the Purchaser, even for those properties located in Catalonia.
6.2 In the event that the Purchaser does not appear at the formalisation of the corresponding sale and purchase deed within the indicated term or that, even appearing, refuses to grant the deed or this cannot be granted for reasons attributable to the Purchaser, the Seller may withdraw from the sale and purchase and will be free to sell the Property to a third party with the right to retain the Deposit amount for himself, as this shall be considered as withdrawal by the Buyer.
6.3 If, on the other hand, the sale and purchase deed cannot be formalised for a reason directly attributable to the Seller, shall be considered as a cause for withdrawal by the Seller, and the Buyer shall be entitled to the return of double the Security Deposit paid.
6.4. BidX1España, S.L. is the intermediary company between the Seller and the Purchaser/Multiple Purchasers and, therefore, has no responsibility whatsoever and cannot therefore be held responsible for the terms in which the sale of the Property is carried out as indicated in this document, which are those indicated by the Seller, or in the event that the public deed of sale is not formalised.
6.5. The sale and purchase are subject to Spanish law as well as to the autonomic or Foral Rights that in their case can be applicable due to the location of the Property and the deed will be granted in Spanish. In the event that any documents are translated into a language other than Spanish, such translation shall be for information purposes only, and the Spanish version shall be binding on both parties.
7- Withdrawal Cases.
Either Party may withdraw unilaterally and without the need for just cause to continue with the process of buying and selling the Property with the following effects:
(a) (a) If the withdrawal is on the part of the purchaser and / or multiple purchasers, he will lose the amounts he would have delivered as a Arras penitenciales.
(b) If the withdrawal is on the part of the Seller, he will sell obliged to comply with the provisions of article 1.454 of the Civil Code, returning twice the amount delivered by the purchase as a Arras penitenciales.
Withdrawal by any of the parties will be understood in the event of: (i) breach of any of the obligations of this document, in particular, (ii) failure to appear at the notary for the purposes of granting the corresponding public deed.
Having withdrawn, it will imply the resolution of the links of this document between the purchase and the Seller, and the Seller recovering the availability to transfer the Property to any other third party.
It will be considered a breach of the purchaser, among others (i) that the payment of the rest of the price pending payment in the sale is made, even in the case of non-realisation is due to not having obtained the granting of the necessary bank financing; (ii) not complying with the customer admission policies or with the regulations on the prevention of money laundering and terrorist financing of BidX1 and / or the Seller, as repeatedly established throughout this document, or having complied with said regulations would not have done so within the deadlines provided for in the legal documentation of the Property.
It will not be considered a withdrawal by the Seller if the occupational or possessory situation of the Property has been altered, or circumstances have occurred such as legal or technical impediments that prevent the transfer of the Property, as well as that the Property is subject to preferential acquisition by any third party or the Public Administration in accordance with the applicable regulations, or any fortuitous event or force that prevents the transmission from being carried out
BidX1 does not guarantee the continued availability of the Digital Platform's operation and shall not be liable for any interruption of service due to temporary server failure or for any omissions, loss of information, data, settings, improper access or breach of confidentiality arising from technical problems or human omissions caused by third parties which are not attributable to BidX1 or the third parties performing the work. Likewise, the absence of viruses or elements in the content that could produce alterations in the software or hardware of users who visit the site is not controlled. As such BidX1 is not responsible for damages of any kind that may result from them. The Purchaser declares to understand and accept that the acquisition of real estate is a complex process. In this regard, BidX1 recommends competent professional advice throughout the Online Sales Process, as well as in relation to the use of the Digital Platform services.
The Purchaser acknowledges that all information on the Properties is provided by Seller to BidX1 to upload to the Website and/or Digital Platform, as applicable. Therefore, BidX1 is not responsible for the truthfulness, accuracy, legality and authenticity of the information, documentation, content or physical condition of the BidX1 Properties. BidX1 is acting as the Seller's real estate agent and therefore is not responsible for (a) the legal and/or physical condition of the Properties, or; (b) the truthfulness, accuracy, authenticity and precision of the information provided by the Seller about the Properties.
As a rule, the information contained in the Website shall be in Spanish language. However, translations into other languages of the Terms and Conditions and Legal Documents that may be provided shall be for informational purposes only, and only documents written in Spanish shall be binding.
In addition, BidX1 assumes no obligation to translate and no responsibility for any official documents provided by the Seller relating to each of the Properties (licenses, certificates, etc.) that are written in any of the official languages in Spain (Catalan, Basque, Galician, etc.).
This document has been drafted in accordance with Spanish law and regulations.
Any dispute or conflict arising between Purchaser and BidX1 or Seller and BidX1 shall be decided before the Courts and Tribunals of the city of Madrid or, as the case may be, before the competent courts in Spain, and under Spanish law.
By signing this document, I declare that I have understood in full, and accepted, the terms and conditions in which the Online Sale Process will take place, as well as the sale and purchase of the Property, should my offer be the Winning Bid. In this regard, I declare that I understand that my participation in the Online Sale Process implies a number of contractual obligations that will be governed by these terms and conditions.
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INFORMATION AND/OR DOCUMENTS REQUIRED IN THE REGISTRATION PROCESS TO PARTICIPATE IN THE AUCTION
During the Registration process to Participate in the Auction, the Digital Platform will require certain documentation from the Purchaser that must be uploaded by all those who make up such part, as appropriate, during such registration. In this sense, the documentation that will be requested depends on certain factors of the Purchaser (physical or legal person, national or foreign), which may vary according to such characteristics.
1- Individuals (domiciled in Spain)
(i) National Identity Document.
(ii) Selfie.
(iii) Credit or debit card details or proof of payment of the Guarantee Deposit by means of proof of transfer to BidX1's bank account.
(iv) Statement of purpose and nature of the business relationship (according to the drop-down menu in the Digital Platform. Options: "principal residence", "second residence" or "real estate investment").
(v) Statement of professional activity (according to the drop-down menu in the Digital Platform).
(vi) Deposit´s source of funds declaration.
2- Individuals (not domiciled in Spain)
(i) Copy of passport.
(ii) Selfie.
(iii) Invoice or any other document, dated within 6 months of the Auction, that verifies the person's domicile.
(iv) Credit or debit card details or proof of payment of the Guarantee Deposit by means of proof of transfer to BidX1's bank account.
(v) Statement of purpose and nature of the business relationship (according to the drop-down menu in the Digital Platform. Options: "principal residence", "second residence" or "real estate investment").
(vi) Statement of professional activity (according to the drop-down menu in the Digital Platform).
(vii) Deposit´s source of funds declaration.
3- Legal Entities (domiciled in Spain)
(i) Company CIF and Deed of incorporation
(ii) Public deed stating the powers of the legal representative.
(iii) National Identity Document of the legal representative (or copy of passport).
(iv) Selfie of the legal representative.
(v) Credit or debit card details or Proof of payment of the Guarantee Deposit by means of proof of transfer to BidX1's bank account.
(vi) Declaration of real ownership of legal persons (responsible declaration). If no natural person controls more than 25% of the company, the responsible declaration must identify the directors as having control of the company.
(vii) Statement of purpose and nature of the business relationship (according to the drop-down menu in the Digital Platform. Options: "corporate headquarters" or "real estate investment").
(viii) Company’s structural chart signed by the legal representative, showing the parent companies with indication of the natural person(s) who, where applicable, hold more than 25% of shares in said Company.
(ix) Deposit´s source of funds declaration.
4- Legal entities (domiciled abroad)
(i) Certificate of Good Standing issued by the competent public authority of the country of incorporation.
(ii) Public deed stating the powers of the legal representative.
(iii) Copy of the Passport of the legal representative.
(iv) Selfie of the legal representative.
(v) Invoice of services or any other document that evidences the registered office of the legal entity.
(vi) Credit or debit card details or Proof of payment of the Guarantee Deposit by means of proof of transfer to BidX1's bank account.
(vii) Declaration of real ownership of legal persons (responsible declaration). If no natural person controls more than 25% of the company, the responsible declaration must identify the directors as having control of the company.
(viii) Statement of purpose and nature of the business relationship (according to the drop-down menu on the Digital Platform).
(ix) Deposit´s source of funds declaration.