Michelson

*959 Opinion

In this case, we are called on to decide the impact of the amount of a lender’s bid at a private foreclosure sale on its ability to obtain tort damages in the aftermath of the Supreme Court’s decision in Alliance Mortgage Co. v. Rothwell (1995) 10 Cal.4th 1226 [ 44 Cal.Rptr.2d 352 , 900 P.2d 601 ] (hereafter Alliance), which limited the full credit bid rule. Appellants G. Karlin Michelson, M.D., and Michael Schiffman, M.D., brought suit against respondent Bert S. Camp, doing business as California Certified Appraisers, when property he appraised at $900,000, on which they made a loan secured by a first deed of trust, proved to be worth far less. The trial court granted nonsuit, concluding that because the amount of the credit bid by appellants at the foreclosure sale was greater than their total loan related damages, there was no basis for recovery. Appellants argue that because they resold the property for less than their credit bid, the foreclosure price should be disregarded and they should be permitted to recover either benefit of the bargain damages or the difference between their credit bid and the price obtained when the property was resold. We affirm the…