LRD, LLC v. State Bank & Trust Co.

Summary

The Georgia Court of Appeals affirmed orders confirming foreclosure sales of two parcels purchased by LRD, LLC. The court held that appraisal evidence concerning the properties’ values approximately five weeks before the sales was sufficiently close in time to support findings of true market value under OCGA § 44-14-161. The court also held that the trial court, as factfinder in a confirmation proceeding, had sufficient evidence to confirm the sales.

Holdings

1. Evidence of a property's value at a time relatively close to the foreclosure sale may be considered to determine the property's true market value at the time of sale. An appraisal dated approximately five weeks before the sales was sufficiently close in time.
2. The superior court's findings were supported by some evidence and therefore could not be disturbed on appeal.

Questions Presented

1. Whether the superior court could confirm the foreclosure sales when the lender's appraisal evidence established the parcels' values approximately five weeks before the sale dates rather than on the exact sale dates.
2. Whether the superior court's findings concerning the parcels' true market values were supported by sufficient evidence.

Disposition

affirmed