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2375 REVIEW DENIED A real estate appraiser who knows that his/her appraisal will be used by prospective lenders owes them a duty not to make negligent or intentional misrepresentations regarding the value of property; a lender who, before making a full credit bid at a foreclosure sale, was aware that the property was worth less than the amount owed, sustained no out of pocket loss and is precluded from bringing a misrepresentation action against an appraiser who originally appraised the property for more than it was worth.CitationMICHELSON v CAMP (Full Credit Bid) 72 CA4 955 [See: Bily v Arthur Young 3 C4 370, T/AT 11/92; Soderberg v McKinney 44 CA4 1760, T/AT 6/96; Cornelison v Kornbluth 15 C3 590; Alliance v Rothwell 10 C4 1226, T/AT 10/95]
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