Other common deferred expenses include startup costs, the purchase of a new plant or facility, relocation costs and advertising expenses. Both prepaid expenses and deferred expenses are important aspects of the accounting process for a business. As such, understanding the difference between the two terms is necessary to report and account for costs in the most accurate way.
Tip: Get the lender to pay the closing costs. If you're short on cash for the closing costs and can't roll the closing costs into the mortgage, some lenders will pay part or all of the closing costs, but in exchange you'll have to pay a higher interest rate on the loan, perhaps 0.25% or 0.50% higher.
I would hope that you can get the seller to pay your closing costs. It is still a buyer's market so if the sell has priced the property correctly, they should be able to accommodate some or most of the closing costs for the seller..f you can't get seller to pay all closing costs, due to restrictions, FHA up to 6% and Conventional will allow 3%, you can certainly ask for a portion. Any great offer is made up of both strategic price and terms.