Although the home resale market is quite good in most communities, that doesn't mean home buyers are at a disadvantage. Smart buyers, with help from their real estate agents, understand they can negotiate on the home's price and terms, as well as the closing costs which are typically five to 10 percent of the sales price.

Whether you are buying or selling a home, closing costs are a major expense. Be prepared to negotiate, however, as these costs are not chiseled in stone. Some expenses are easier to negotiate away than others, but it's worth a try--unless you want to buy a home in a hot seller's market, such as Las Vegas or California's Silicon Valley.

- Mortgage loan fees. Most home buyers pay mortgage loan fees of one or two percent of the loan amount. You can avoid this expense, however, by including in your written purchase offer a clause such as, "Seller to pay buyer's non-recurring closing costs up to $5,000."