A Proposal to Foreign Investors

This proposal is addressed to those investors wishing to acquire a real property in Italy, by units, through the participation in auctions, which offer the double advantage of greater assurance and lower prices.

Following the Italian Law, the owner of a real estate who is in default with His creditor, is subjected to a real estate levy of execution run by the Judges of the Court and ending with the sale by auction of the real estate involved.

The auction starts by a basic price fixed by a consultant appointed by the Court. The auction is open to the public and takes place by higher bids. 
If there are no bidders, a new auction is fixed and the basic price is lowered by a fifth.

On the basis of previous experiences, it is possible to state that in most cases the purchase price (knock down) of the real estate is lower than its market value.

In addition, the purchase takes place under the direct control of the Court ensuring that the real estate will reach the final purchaser totally free from any prejudicial situations and that it is no longer burdened by debts.

Low costs and certainty of the acquisition are the main reasons making this kind of purchasing procedure very profitable in Italy.

Hence, Gesoba Ltd., has arranged the following operating solution:

A) setting up a stock corporation with the full equity participation of the investor involved (the final purchaser);

B) fixing of reference parameters to find out the real estate within the wide panorama of the auctions by court order taking place all over the national territory;

C) appraisal of the value of the selected real estate carried out by one leading Italian real estate brokerage company;

D) a preliminary fixing of the highest bid agreed upon with the purchasing Company; 

E) the participation in the auction, including all the necessary burdens.

Gesoba Ltd., through its legal advisers specialized in the sector, is able to ensure the assistance and follow up from the moment of the setting up of the Company up to the juridical and real acquisition of each real estate and to follow the management of the whole corporate assets even though this has to be done through a leading Italian management company connected to Gesoba.