California Court of Appeals, Second District, Sixth Division
Ordered Filed July 25, 2013
Superior Court County of San Luis Obispo, No. 118183, Dodie A. Harman, Judge
Christian E. Iversen for Plaintiffs and Appellants.
Duggan Smith & Heath LLP, Jane E. Heath, Janet L. Wallace for Defendant and Respondents.
ORDER MODIFYING OPINION AND DENYING REHEARING
IT IS ORDERED that the opinion filed herein on July 3, 2013, be modified as follows:
1. On page 4, after the last sentence of the second full paragraph, add the following text:
We reject the fiction argued by the Enloes that the $93, 750 was a "hard money loan" and not part of the purchase price.
There is no change in the judgment.
Appellants' petition for rehearing is denied.
GILBERT, P. J.
When sellers of real estate accept a deed of trust from the purchasers to secure the purchase price, Code of Civil Procedure section 580b prohibits the sellers from obtaining a deficiency judgment in the event the purchasers default.  It matters not that such a trust deed is given to sellers after the close of escrow. Timing does not change its character. ...