Sale without judicial auction, synchronous, asynchronous and mixed: what it means

You will find the mode in the sale notice (avviso di vendita), the document that describes the property and the rules of the bidding. You do not choose it yourself: the judge decides it in the sale order (ordinanza di vendita) (art. 569, para. 4, Code of Civil Procedure).

What is the difference between a judicial auction and a sale without judicial auction?

The judicial auction (incanto) is the oral auction, in the courtroom, where people raise their bids in person. Today it is residual: the judge orders it only if he or she considers that a price more than half as high is likely. If you want to learn more, read vendita con incanto: esiste ancora?.

The sale without judicial auction is the one you almost always encounter. You submit a written offer. If more offers arrive, a bidding round opens. The rules are in the Code of Civil Procedure: article 571 concerns the offer, article 572 the single offer, and article 573 the bidding among several bidders.

Usually the sale is online (telematica). The judge orders it as the rule, unless there are reasons against it (art. 569, para. 4, Code of Civil Procedure). So the offer is made online, on the Public Sales Portal (Portale delle Vendite Pubbliche, PVP).

What do synchronous, asynchronous and mixed mean?

These are three ways of holding the online bidding, provided for by Ministerial Decree 32 of 2015. The name tells you when the bidding takes place.

• Synchronous (sincrona) (art. 21 of the decree): the bidding takes place online in real time, on a day and at a time fixed in the notice. All bidders are connected at the same moment. Learn more in asta telematica sincrona: come funziona.
• Asynchronous (asincrona) (art. 24): the bidding lasts several days, within a window indicated in the notice. You can raise your bid within that window, without being connected at the same instant as the others. See asta telematica asincrona: come funziona.
• Mixed (mista) (art. 22): you can take part either online or in the room. Whoever chooses paper submits a paper offer in a sealed envelope to the sale delegate (delegato alla vendita). The bidding takes place at the same time for everyone. See asta sincrona mista: online e in presenza.

The economic rules are the same: base price (prezzo base), minimum offer (offerta minima), deposit (cauzione) and minimum bid increment (rilancio minimo). What changes is the timing and the way you connect or present yourself.

How is an online offer submitted?

The online offer is completed on the Public Sales Portal (Portale delle Vendite Pubbliche, PVP). It must be sent by certified email (PEC), with a digital signature or with the credentials provided by the system. With the offer you will attach the bank transfer for the deposit (cauzione) and an identity document. It must arrive by the deadline indicated in the notice (arts. 12-14 of the decree).

The deadline really matters. An offer that arrives one minute late is useless, even if you have already paid the deposit. Note the date and time, and send with a safety margin.

How does the bidding work in practice?

Here is an invented example. The base price (prezzo base) is €100,000. The minimum offer (offerta minima) is €75,000, because the law allows offers below the base price down to a quarter less (art. 571, para. 2, Code of Civil Procedure). Two people submit an offer: one offers €80,000 and the other €85,000.

If there is more than one offer, the bidding starts from the highest offer. The minimum bid increment (rilancio minimo), that is the minimum rise at each step, is set in the notice. If the notice sets €1,000, whoever offered €85,000 can be overtaken only with at least €86,000. See rilancio minimo: quanto e quando si rilancia.

If nobody raises the bid, the award (aggiudicazione) goes to whoever made the highest offer. If two offers are equal, the order of preference is the one written in the notice: usually the higher deposit is considered first, then the shorter payment deadline.

How much deposit do I have to pay?

The deposit (cauzione) is the sum you pay as a guarantee before the bidding. By law it must be at least one tenth of the price you offer, but the notice may ask for a higher percentage.

If you offer €80,000, the minimum deposit is €8,000. If the notice asks for 15%, it is €12,000. Always use the percentage written in the notice. To understand when it is returned, read cauzione: quanto versare, come e quando torna indietro.

Which mode suits a beginner?

From the point of view of the rules, none is more favourable. What changes is your organisation.

• The synchronous mode requires you to be connected on the fixed day and time. It suits you if you have a stable connection and can stay focused for the whole bidding.
• The asynchronous mode gives you more time, but the bidding can drag on. If a bid arrives in the last minutes, the deadline may be extended. The exact number of minutes is in the notice.
• The mixed mode is useful if you want to be in the room but prefer to make your offer on paper. However, it requires you to present yourself in person at the indicated place.

In all cases, read the notice line by line before the bidding. If you need a guide, use come si legge un avviso di vendita, riga per riga.

In practice

• Look in the notice for the word «sincrona», «asincrona» or «mista»: it tells you how the bidding takes place.
• Note the deadline for submitting the offer, with exact date and time, and send with a safety margin.
• Calculate the deposit (cauzione) on the offer you intend to make, using the percentage written in the notice.
• If the sale is asynchronous, check how many days the bidding lasts and what happens if a bid arrives at the end.
• If it is synchronous or mixed, check that you have a stable connection or know where to present yourself.

Frequently asked questions

Can I choose whether to take part in a synchronous or asynchronous auction?

Usually not. The mode is decided in the sale order and written in the notice. When the sale is mixed, however, you can choose whether to take part online or in the room.

If I lose my connection during an online bidding, what happens?

Do not leave your offer to the last minute. The rules on any technical problems are in the notice and in the regulations of the operator of the online sale. Ask about them before the bidding, not during it.

If I don't win, is my deposit returned?

Yes. After the bidding, the deposits of the unsuccessful bidders are returned by bank transfer. The exact times are those indicated in the notice, so check them before paying.

Sources

• Codice di procedura civile, art. 571 (offerta minima e cauzione)
• Codice di procedura civile, art. 573 (gara tra offerenti)
• Portale delle Vendite Pubbliche
• Ministero della Giustizia