In 2004, Compass Bank loaned Nash Capital Corporation $3,500,000. To secure the debt, Nash Capital executed and delivered a deed to secure debt conveying to Compass a tract of Gwinnett County real property the “Property”. Nash Capital defaulted on the loan, and on November 6, 2007, Compass conducted a foreclosure sale of the Property. Compass bought the Property for $2,600,000. Because Compass contended that the sale proceeds were less than the secured debt, Compass filed a report of sale and petition for confirmation with the superior court. Following an evidentiary hearing, the trial court confirmed the sale. Nash Capital, and guarantors Benjamin P. Nash, Sr, and Benjamin P. Nash, Jr. collectively, “Nash” appeal, and we affirm. Nash contends that the trial court’s order is not supported by the evidence. Specifically, Nash argues that Compass failed to show that the Property sold for true market value because Compass a relied on inadmissible hearsay to establish that value, and b Compass’s appraiser applied certain irrelevant and unsupported expenses in calculating the Property’s value. “The court shall require evidence to show the true market value of the property sold under the powers and shall not confirm the sale unless it is satisfied that the property so sold brought its true market value on such foreclosure sale.” OCGA § 44-14-161. The trial court is the trier of fact in a confirmation proceeding, and an appellate court will not disturb its findings if there is any evidence to support them. See Smith v. Great Southern Federal Savings Bank , 192 Ga. App. 386, 387 3 385 SE2d 1 1989.
Compass presented the testimony of appraiser Pashia Shorter to establish the true market value of the Property, a proposed office park with three buildings currently on site, two of which had not been fully completed. According to Shorter, the prospective market value of the Property was $3,000,000. Shorter further testified that in order to find the “as-is” market value of the Property, she deducted $225,000 to account for the cost to complete the interiors of two buildings located on the Property and $176,832 to account for rent lost during the time the buildings would not be occupied. According to Shorter, the true market value of the Property on November 6, 2007 was $2,600,000.
