Because your home may well be your largest asset, selling it is probably one of the most important decisions you will make in your life. To better understand the home selling process, a guide has been prepared from current industry insider reports. Through these 27 tips you will discover how to protect and capitalize on your most important investment, reduce stress, be in control of your situation, and make the most profit possible.

Your motivation to sell is the determining factor as to how as to how you will approach the process. It affects everything from what you set your asking price at to how much time, money and effort you're willing to invest in order to prepare your home for sale. For example, if your goal is for a quick sell, this would did determine one approach. If you want to maximize your profit, the sales process might take longer thus determining a different approach.

The reason(s) you are selling your home will affect the way you negotiate it's s sale. By keeping this yourself you don't provide ammunition to your perspective buyers. For example, should they learned that you must move quickly, you could be placed at a disadvantage in the negotiating process. When asked, simply say that your housing needs have changed. Remember, the reason(s) you are selling is only for you to know.

The best way to learn about your competition and discover what turns buyers off is to check out other open houses. Note floorplans, condition, appearance, size of lots, location and other features. Particularly note, not only the asking prices but what they are actually selling for. Remember, if you are serious about getting your home sold fast, don't price it higher than your neighbor's.

Sometimes a good appraisal can be a benefit in marketing your home. Getting an appraisal is a good way to let prospective buyers know that your home can be financed. However, an appraisal does cost money, has a limited life, and there's no guarantee you'll like the figure you hear.

Some people think that tax assessments are away evaluating a home. The difficulty here is that assessments are based on number of criteria that may not be related to property values, so they may not necessarily reflect your home is true value.

Before settling on your asking price make sure you leave yourself enough room in which to bargain. For example, set your lowest and highest selling price. Then check your priorities to know if you'll price high to maximize your profit or price closer to market value if you want to sell quickly.

Appearance is so crucial that it would be unwise to ignore this when selling your home. The look and "feel" of your home will generate a greater emotional response than any other factor. Perspective buyers react to what they see, hear, feel, and smell even though you may have priced your home to sell.

The biggest mistake you can make at this point is to rely solely on your own judgment. Don't be shy about seeking the honest opinion of others. You need to be objective about your home's good points as well as bad. Fortunately, your Realtor® will be unabashed about discussing what should be done to make your home more marketable.

Scrub, scour, tidy up, straightened, get rid of the clutter, declare war on dust, repair squeaks, the light switch that doesn't work, and the tiny crack in the bathroom mirror because these can be deal killers and you'll never know what turns buyers off. Remember, you are not just competing with other resale homes, but brand-new ones as well.

The last thing you want perspective buyers to feel when viewing your home is that they may be intruding into someone's life. Avoid clutter such as too many knick-knacks, etc. Decorate in neutral colors, like white or beige and place a few carefully chosen items to add warmth and character. You can enhance the attractiveness of your home with a well-placed vase of flowers or potpourri in the bathroom. Home-decor magazines are great for tips.

You may not realize but odd smells like traces of food, pets and smoking odors can kill deals quickly. If the perspective buyers know you have a dog, or that you smoke, they'll start being aware of odors and seeing stains that may not even exist. Don't leave any clues.

Smart sellers are proactive in disclosing all known defects to their buyers in writing. This can reduce liability and prevent lawsuits later on.

When you maximize your home's marketability, you will most likely attract more than one prospective buyer. It is much better to have several buyers because they will compete with each other; a single buyer will end up competing with you.

Let go of the emotions you've invested in your home. Be detached, using a business-like manner in your negotiations. You'll definitely have an advantage over those who get caught up emotionally in the situation.

The better you know your buyer the better you can use the negotiating process to your advantage. This allows you to control the place and duration of the process. As a rule, buyers are looking to purchase the best affordable property for the least amount of money. Knowing what motivates them enables you to negotiate more effectively. For example, does your buyer need to move quickly. Armed with this information you are in a better position to bargain.

As soon as possible, try to learn the amount of mortgage the buyer is qualified to carry and how much his/her down payment is. If their offer is low, ask the Realtor® about the buyers ability to pay what your home is worth.

Quite often, when buyers would "like" to close is when they "need" to close. Knowledge of their deadlines for completing negotiations again creates a negotiating advantage for you.

Beware of closing on your new home while you're still making mortgage payments on the old one or you might end up becoming a seller who is eager (even desperate) for the first deal that comes along.

It has been proven that it's more difficult to sell a home that is vacant because it becomes forlorn looking, forgotten, no longer an appealing site. Buyer start getting the message that you have another home and are probably motivated to sell. This could cost you thousands of dollars.

Don't try to sell by a certain date. This adds unnecessary pressure and is a serious disadvantage to negotiations.

Invariably the initial offer is below what both you and the buyer knows he'll pay for your property. Don't be upset, evaluate the offer objectively. Ensure it spells out the offering price, sufficient deposit, amount of down payment, mortgage amount, a closing date and any special requests. This can simply provide a starting point for which you can negotiate.

You can counter a low offer or even an offer that's just under your asking price. This lets the buyer know that the first offer isn't seen as being a serious one. Now you'll be negotiating only with buyers with serious offers.

If you feel an offer as an adequate, now is the time to make sure the buyer is qualified to carry the size of the mortgage the deal requires. Inquire how they arrived at their figure, and suggest they compare your price to the prices of homes for sale in your neighborhood.

To avoid problems, ensure that all terms, costs and responsibilities are spelled out in the contract of sale. It should include such items as the date it was made, names of parties involved, address of property being sold, purchase price, where deposit monies will be held, date for loan approval, date and place of closing, type of deed, including any contingencies that remain to be settled and what personal property is included (or not) in the sale.

For example, if the buyer requesting a move in prior to closing, just say no. That you've been advised against it. Now is not the time to take any chances of the deal falling apart.