My short sale purchase approved

[RALPH MOSS]

After just 7 weeks from having my purchase offer submitted on a single family home in Cape Coral, Florida..........the short sale has been approved by all parties.

The sellers have a 1st mortgage of $350k with CitiMortgage and a 2nd mortgage of $40k with Guaranty Bank. My accepted offer is for $255k. The home is just over 2 years old with one original owner who paid $440k in October 2007.

I do not know how much the 2nd mortgage holder was compensated to release the lein. I was not asked to pay anything extra and that's all that matters to me.

The contract of sale had a 'short sale addendum' that required the seller be released from all money owed in shortfall.

My lender has an appraisal scheduled in a few days and I scheduled a home inspection for tomorrow. Barring any surprises, I expect to close within 5 weeks.

My only concern at this point is hoping the seller does no damage to the home which is currently in perfect condition inside and out. I guess my pre-closing walk through will be revealing.

I want to thank all the knowledgeable posters on this board. You gave me the foundation to get this deal done with confidence.

Do any of the experts on this board have additional advise to offer? Perhaps I missed something important.

Thanks