This is an appeal of an order confirming the sale at foreclosure of three buildings in a Gwinnett County office park. The appellants argue that the superior court erred by limiting the admission of evidence of the properties’ value to only the value on the date of the foreclosure sale, but they asked for such a limitation. They argue that the superior court erred by considering hearsay evidence, but we presume that the court considered only admissible evidence at this bench hearing. Contrary to the appellants’ argument, there is no indication that the superior court disregarded their expert evidence. Further, although the appellants challenge the reliability of certain expert testimony, the expert explained the basis of his opinion and we cannot second-guess his methodology. Finally, the appellants have failed to show that the repeated advertisement of the foreclosure sale chilled the bidding process. For these reasons, we affirm. Wells Fargo Bank’s predecessor in interest lent money to Royalty Properties, LLC and Janis Eayrs to purchase the office buildings, and the borrowers granted security deeds to the properties. Ernest Eayrs, Allan Eayrs, William Asma and Janis Eayrs guaranteed Royalty’s obligation, and Ernest Eayrs, Allan Eayrs and William Asma guaranteed Janis Eayrs’s obligation. The appellants defaulted, and Wells Fargo began foreclosure proceedings. Wells Fargo advertised the properties for sale for four weeks in June and July 2010, ultimately resulting in their sale on July 6, 2010. Wells Fargo also had advertised the properties during the months of December 2009, January 2010, February 2010, March 2010 and May 2010. It reported the sales to a judge of the Gwinnett County Superior Court and applied for confirmation. Following a hearing, the superior court issued a confirmation order that included findings of fact and conclusions of law. These appeals followed; we are considering the two appeals together because they raise the same issues, and the superior court resolved the cases in a single order.
1. The appellants argue that the superior court erred by concluding that, under OCGA § 44-14-161 b, the parties were limited to introducing evidence of the properties’ value on only the date of the foreclosure sale. That statute provides: the court shall require evidence to show the true market value of the property sold under the powers contained in security deeds and shall not confirm the sale unless it is satisfied that the property so sold brought its true market value on such foreclosure sale. At the confirmation hearing, the appellants moved in limine to exclude from evidence Wells Fargo’s property condition report prepared by David Winitt on August 17, 2010. The appellants argued that Winitt had not inspected the properties until three weeks after the July 6 foreclosure sale, and his report therefore was not probative and relevant to the issue of whether the properties brought their true value at the foreclosure sale. Additionally, the appellants asked the court to exclude Wells Fargo’s post-sale appraisal prepared by their expert, Michael Barrow, because it relied on Winitt’s post-sale property condition report. The appellants argued that such evidence was not probative or relevant to the true market value at the date of the foreclosure sale.
