BLF Partner Stephanie Everett showed that the bank failed to meet its burden of proving that it satisfied the requirements regarding the legality of a foreclosure sale of 14 townhome lots. BLF showed that not only did the Bank fail to prove that it gave proper notice to the debtor, but also that the bank sold the property for less than its true market value. The court found that the appraiser’s ultimate conclusion of value, which was based largely on a discounted cash flow model was insufficient given that the appraiser had sufficient data to conduct a sales comparison approach.  Had the appraiser relied on the value provided by conducting a sales comparison approach, his conclusion of value would have been higher.  As a result, the Bank failed to sell the property for its true market value.  The Court did not find good cause and therefore did not order a re-sale.  The win resulted in the guarantor being released from a potential deficiency exceeding half a million dollars.