Ben Franklin said that only death and taxes are certain, but closing costs surely had to come close to making that list. And depending on where you live, there are different items that may or may not fall on the list of closing costs. If you're paying cash for a home, the good news is there are a number of costs that are related to a mortgage that you can avoid altogether. 

Here's a list of common closing costs that cash buyers may be required to pay, and a few they should at least consider even if the services aren't required:

  • Appraisal.
  • Property inspection.
  • Title insurance. 
  • Survey.
  • Escrow fees and bank transfer fees to fund escrow. 
  • Notary. 
  • Taxes, such as property tax. 
  • Local, county, and state government fees.
  • Attorneys fees. 
  • Homeowners insurance premium.

Many of these fees are fixed costs, such as home inspections, appraisals, and notary, fees while others, such as taxes, escrow, and insurance premiums, will be based on the property value or the selling price. Other fees, such as attorney's fees, can also vary, depending on location and the extent of the services the buyer requires. Again, some of these fees may or may not apply, depending on your locale. 

The good news is that the seller may be willing to pay some or all of these fees, and in many areas it may be a normal practice for buyers and sellers to split certain costs. It's also important to note that your actual closing costs will vary from one locale to the next, and that your real estate professional should be able to give you a list of costs for the property you're buying. 

When it comes to things such as appraisal, survey, and property inspection, it's worth shopping around, just as you would with your insurance. You may be able to save a few bucks here or there, but it's probably more important to consider the quality and reputation of the professional you hire as much as saving money. After all, paying a little more for a home inspector who catches a major problem before you pull the trigger is as good as money in the bank. 

The $15,978 Social Security bonus most retirees completely overlook
If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known "Social Security secrets" could help ensure a boost in your retirement income. In fact, one MarketWatch reporter argues that if more Americans knew about this, the government would have to shell out an extra $10 billion annually. For example: one easy, 17-minute trick could pay you as much as $15,978 more... each year! Once you learn how to take advantage of all these loopholes, we think you could retire confidently with the peace of mind we're all after. Simply click here to discover how you can take advantage of these strategies.

This article is part of The Motley Fool's Knowledge Center, which was created based on the collected wisdom of a fantastic community of investors based in theFoolsaurus . Pop on over there to learn more about our Wiki and how you can be involved in helping the world invest, better! If you see any issues with this page, please email us at . Thanks -- and Fool on! 

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Compare Brokers