Washington Federal v. Hulsey

BRODY, Justice.

This ease arises from the foreclosure of nine commercial condominium units owned by Michael R. Hulsey and SM Commercial Properties, LLC. Just prior to a sheriffs sale, SM Commercial Properties filed bankruptcy. Eventually the bankruptcy stay was lifted and the sale took place. Washington Federal bought the property with a credit bid and then asserted a deficiency against Hulsey. The district court found that Washington Federal failed to prove both the existence of a deficiency as well as the fair market value of the property. Washington Federal raises the following issues on…