The cost to close the deal may seem like a drop in the bucket considering that you just negotiated the purchase of a home worth hundreds of thousands of dollars. But buyer beware: What may seem like pocket change relative to the purchase price could be hundreds or even thousands of dollars worth of savings in your pocket. That’s money you could use to buy new furniture or landscape the yard.

Here are some tips to help squeeze savings out of the cost of closing on your new home.

Always shop around

As with any big purchase, consumers tend to have a better bargaining position when they shop and compare. Ask a mortgage broker or bank to provide a good-faith estimate, which should include a detailed list of closing costs, including terms.

“Any good mortgage company or bank would have no problem giving the customer a good-faith estimate so they can take that with them and shop and compare with other companies,” says George Hanzimanolis, president of the National Association of Mortgage Brokers. “Do a side-by-side comparison of three different products and see which makes the most sense.”

Keep in mind, however, that there is no law requiring a good faith estimate to be accurate. Hold onto your estimate for reference when a final tally of the closing fees is drawn up, and question any discrepancies.

Solicit the seller

When negotiating the deal — especially in a housing climate that favors the buyer — ask the seller to chip in for some or all of the closing costs.

“Sellers and builders today are willing to pay closing costs to help move their property,” Hanzimanolis says. “We see a lot of people getting some kind of seller contribution.”

Consider your timeline

Forecasting how long you plan to live in your home can save you money, too. Homebuyers who intend to sell within three to five years would be wise to keep their closing costs down by choosing a zero-points loan, which results in a higher interest rate and higher mortgage payment, but greater initial cash savings.

“It’s a very individual decision,” says Joe Ridout, spokesman for the advocacy group Consumer Action in San Francisco. “If you’re not living in the house for long it makes sense to sacrifice lower points for higher interest rate.”

Conversely, homebuyers who can make a long-term commitment will benefit from fronting cash to pay discount points, locking in a better interest rate. (A point is a fee that equals 1 percent of the loan amount.) This initial out-of-pocket expense at closing will lower the interest rate — resulting in considerable long-term savings in interest.

Question nebulous fees

Homebuyers who take the time to research third-party expenses involved in closing can avoid being overcharged.

If an outside company is providing the mortgage broker a service, like furnishing a credit report, ask for receipts. And find out what your local government will charge when recording your title or transfer taxes.

“That will put you in a good position to challenge something that’s out of line,” Ridout says. A quick phone call or click of the mouse can arm you with this information.

Be wary of line items dubbed “administrative” or “document preparation” fees. “You should demand an explanation of what goes into that,” Ridout says. “Some of the junk fees are dressed up with very authoritative names like ‘processing fee’ or ‘underwriting fee.’ It’s a fancy name for a trip to the printer.”

And those fees can add up to hundreds of dollars. Though you may feel overloaded with details and overwhelmed by the magnitude of your purchase, bear in mind that under different circumstances — a restaurant, a shop — you wouldn’t stand for being overcharged. So don’t stand for it at your closing either.