Recent Missouri Case: Court Reaffirms That Inadequate Sale Price Is Not Enough To Set Aside Foreclosure Sale

The Court of Appeals will correct errors and does not alter the law.  Here, the trial court voided a foreclosure sale because it concluded that the price “shocked the conscience.”  But “[i]nadequacy of consideration alone will not justify setting aside a foreclosure sale that was fairly and lawfully conducted, without fraud or partiality and with full opportunity for competitive bidding.”  Therefore, the Court of Appeals reversed the trial court’s judgment.
Arvest Bank v. Emerald Pointe, LLC et al., SD36959