1) Research your neighborhood sales history to determine your asking price.
Work with your realtor to select a price carefully and be sure it is realistic and will uphold an appraisal. You do not want to lose money on the sale; yet if you overprice for your neighborhood and comparable properties, your home will sit on the market. A realtor can offer a Comparative Market Analysis which takes size, amenities, condition, updating and other factors of the property into consideration.
2) Improve the marketability of your home with repairs, improvements & cleaning.
You can never underestimate the power of curb appeal & first impressions cannot be recaptured. Some real estate agents believe that a buyer makes their decision within the first 10-20 minutes of seeing a home. This is when you have to look at your home and property with the critical eye of an outsider. One of the most important things you can do is remove all the clutter of everyday living. Create a nice entry with potpourri or candles.
3) Show your home, consider offers and negotiate a sales contract.
When buyers look at your home, give them some privacy and time to discuss it. If you are working with
a realtor, allow him or her time alone with the buyers. Be available for questions, and to show them details on the aspects of your home that most interest them. It is very helpful to have on hand utility bills and literature/warranties on appliances, etc. Keep any pets outside if possible and the TV and radios off. All offers to buy should be in writing and should be accompanied by Earnest Money (similar to a deposit, this indicates that a buyer is serious and wants to take the property off the market.) Review any offers alone, away from the buyers and with your realtor, if you have one. Make all counter-offers in writing. Once a final offer is agreed to by both parties, either the realtor will write up the final contract; or if you are sale by owner, contact the title company you have decided to use. You and the buyers should set an appointment to meet at the title company to write the contract.
4) Proceed with mortgage qualification and the settlement closing.
The buyer typically will have so many days (often 10-14) after the contract date to obtain a Qualifying Letter of Commitment from a mortgage company, if they have not already done so. The title company will handle the settlement closing process.