No sooner did you purchase your home than you probably started wondering what it would be like to try and sell it someday. Now that you are planning to put it on the market, you've probably already moved out emotionally and just want to get started on finding your next home. But you'll have a lot of work to do if you want to fetch top dollar on the sale. Luckily, you don't need to spend a lot of money prepping, just some time and effort.

Here's a checklist to get you started:

 Set your goals for the sale
Do you want a quick, hassle-free sale, and only want to get out of the home what you put into it? Or, are you willing to take more time and effort in order to get the highest possible price? Make sure you and your spouse have the same goal in mind. Also, do you have a plan for where you will go once you sell? In a hot housing market, some buyers will be looking to close in a matter of weeks. Decide if you would be willing to move out on a few weeks' notice and where you would go. If you plan to try and time the sale with the purchase of your next home you won't be able to be as flexible about the closing.

 Hire a real estate agent
To get the most marketing support and exposure to buyers looking for a home, a real estate agent has more access to internet support, searches, and leads than any other avenue available to sell your home quickly and at the right price .

 Price the house
Your agent will help you accurately evaluate the market in your area and set a realistic price on your house, either by checking the sale price of comparable homes close to your house or by hiring an appraiser. It is critical to set the right asking price so you don't feel you sold for too little; but an overpriced home can languish on the market and take a long time to sell. 

 Identify problems or repairs needed
Sellers are obligated to disclose problems, flaws in the structure, or potential problems with the  property, including things like dry rot, termites, asbestos, septic problems, or a new highway slated to run nearby. The disclosure requirements vary by state, but if you fail to mention the leaky roof or flooding basement in your signed disclosure statement, you could be sued for fraud. Most problems will be revealed by the home inspection prior to closing.

If you are selling an older home that you have lived in for years, you may want to have it inspected yourself before you set the price. With minor problems, like a cracked tile or broken dishwasher, you will likely want to fix them so they don't enter into the price negotiations and lower the price for your house.  If you have  problems you don't want to fix, you can sell the house "as is". If major problems exisit you can sell it as a "fixer-upper" but this usually lowers the price of the house when the buyer has to make repairs after they've purchased the house.

 Get the house in showing condition
Small cosmetic touches can increase your home's value by thousands of dollars. Improve the "curb appeal" by adding a row of colorful flowers to the walkway, trimming the shrubs, and painting; even if it's just the side of the house that shows from the street or the front door. Consider painting inside as well (white is best). Clean the windows, polish fixtures, and buy some plants. Also, get rid of clutter and family photos on tables, tvs, and dresssers. You want to have the buyer imagine their own things in the house and not be reminded that they are in someone else's home.

When we actually start bringing buyers in to see your house keep the rooms neat and picked up. Remove extra furniture like chairs and side tables to make rooms look more spacious. Clear off and clean kitchen counters.  Make sure floors or carpets are clean and vacuumed and that the yard is neat and the grass is cut. Also, turn on all the lights, fluff up pillows, make sure your house smells nice and keep any pets out of sight.

 Decide what goes and what stays
Before you start showing your home, you need to decide what will be included in the sale. If you want to take your Miele washer and dryer, your custom ceiling fans or your Sub-Zero refrigerator with you, tell serious buyers before negotiations start. Leaving behind the custom drapes and cushions designed for a window seat could turn out to be an attractive selling point.

 Figure out your own finances
Make sure you know exactly what you need to net from the sale (your agent can help you with this information). Add up the amount you'll owe the bank and the agent commissions. Many home sales are now tax free and you may get some cash back at closing for prepaid local taxes, home insurance or fuel.

 Hire an attorney
Although an attorney won't really get involved until you draw up a contract of sale, it's good to get one on board early in the process. If you are selling the house on your own you may have questions about negotiating with buyers. If you use a real estate agent, you may want your lawyer to look at the listing agreement before you sign.

 Start looking for a new home
Sellers are usually advised not to begin the search for a new home until a sales contract is signed since you don't want to carry the cost of two homes if the sale falls through. Plus, trying to time the two closings can make planning a move much more stressful. However, if you have to move quickly or you don't want to pass on your dream house, you have some options. A "bridge loan" will let you use the equity in your old house to buy a new one. You could also include a contingency clause stating that you will only buy the new home if the sale of your old home goes through.

  For more articles and advice on Home Selling, visit our Seller Tools.

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