Mice: Mouse traps or professional extermination?

Here’s the scoop. I’m in the process of buying a house; unfortunately, a lot of repair work and upgrades will be needed, and I’d like to do it all frugally.

One problem is that mouse droppings were found in the basement. The seller has refused to pay for the extermination costs, as per our original agreement. Me, I’d like to save a few bucks whenever possible, since I’ll need to pour a lot of money into other repairs.

I’m thinking about using some live catch traps instead of hiring a professional exterminator. This would be a lot cheaper, but I’m not sure if it would be worthwhile. Have you folks had any prior experience in this matter?