Greater Southwest Office Park, Ltd. v. Texas Commerce Bank National Assoc.
Texas Court of Appeals
786 S.W.2d 386 (1990)
Relevant factsFree
Greater Southwest (plaintiff) defaulted on a $5,000,000 loan secured by a deed of trust; the bank (defendant) foreclosed and bought the property at the foreclosure sale for roughly the outstanding loan balance plus sale costs, an amount Greater Southwest claimed was grossly below market value. Greater Southwest sued for damages based solely on this price inadequacy, without alleging or presenting any evidence of procedural irregularities in the sale itself, and the trial court granted the bank summary judgment.
IssueFree
Whether, in the absence of evidence of irregularity in a foreclosure sale, mere inadequacy of the sale price is grounds for setting aside the sale.