You have shopped for a house and found the perfect place. Even better, the bank has pre-approved the mortgage and the seller has agreed to the price. It feels like the hard part is behind you, but there are important legalities ahead. You need to take these five steps to protect your rights and interests as you complete the transaction.

Retain Counsel

Hire a real estate attorney. It might seem like an unnecessary expense, but the cost is small compared to the potential risk of getting something wrong. Real estate law dominates this part of the process, anyhow. You are going to need a contract for the deal. Likewise, it needs to incorporate the following steps into the arrangement so everyone knows what they need to do and when.

Contract Terms

You and your real estate attorney will work with the seller and their counsel to hammer out contract terms. Focus on protecting your rights and financial interests in the contract. Make all contingencies explicit in the agreement. If you're waiting for the seller to cure the title due to a previous mortgage, for example, incorporate a contingency that only moves the deal forward when they've satisfied that contract term.

Disclosures

Make sure the seller includes all disclosures about the property. If a house inspector discovered issues with the roof, for example, those should be in the disclosures. The disclosures will protect you against anything that the seller doesn't declare. If an undisclosed problem shows up two months after you close the sale, this will provide better grounds for pursuing damages.

Overt Acceptance

Make sure both sides overtly accept the terms in writing. Signatures and fees also add to the legal acceptance of the arrangement. Within the terms of the contract, you want the deal to be as defensible under real estate law as possible.

Closing

Determine what paperwork is necessary and who'll pay the closing fees. Find out when payment will happen and also when the seller will turn over the keys. If the seller still lives in the house, dictate a specific date for when they have to leave. You should also outline what happens to any possessions left behind after that date in terms of whether the seller will pay to store them or the buyer takes ownership.

Contact a title company so you can record the deed, too. They will notify the county's register, and that completes the process of taking full possession of the house.