Thomas v. Henry

Banke, Judge.

This is an appeal from an order denying a petition for confirmation of a foreclosure sale on the ground that the property in question did not bring its true market value at the sale. See generally Code Ann. § 67-1503 et seq.

The appellee purchased the property in 1973 for approximately $4,000 an acre, giving back a note and security deed. The foreclosure sale took place on August 1, 1978. The appellants made the only bid and repurchased the property for $100,000, or approximately $1,800 an acre. The appellant who actually made the bid testified at the confirmation hearing that he…