Where a mortgagee's sale has been advertised and conducted in a proper and prudent manner, the price actually obtained is the best evidence of market value, and expert valuation evidence may be given little or no weight. There is no absolute rule requiring a mortgagee to obtain an independent valuation before exercising a power of sale, nor prohibiting advertisement of the sale as a 'mortgagee sale'. An unaccepted bid at auction after a properly conducted sale process is admissible evidence of the weakness of the market for the property.
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