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Step 1
Know Your Motivation. Selling your home can be very stressful, and you need to make sure that your heart is in the right place. Explore the pros and cons of selling your home. If your heart is not in it for the right reasons, it might be best to hold off on selling for awhild.
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Step 2
Look for a New Home. This does not mean to go out and purchase a new home before your's sells, I mean to look and see what a home in your price range can get you. You may decide to stay where you are for awhile until the market picks back up.
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Step 3
Find a Lender. Even before you consider putting your home on the market, you need to contact your current lending institution to see how much is left of your mortgage. You need to weigh your options and see if you can reasonably sell your home for enough to pay off your mortgage and still have enough for a down payment on a new home. If you decide to proceed and purchase a new home once your's sells, compare rates and fees with different lending institutions.
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Step 4
Find a Realtor. Contact different real estate agents and find one that you are comfortable with. Ask to see their contracts and their marketing plans for your home. Have them write up a comparative market analysis to see what other homes in your neighborhood are selling for. Ask what improvements and repairs they would recommend before you place your home on the market. Ask what they think your home could sell for and what the average time a home in that price range is on the market.
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Step 5
Sell Before You Buy. Don't get anxious and purchase another home before your current home sells. If your old home does not sell in a reasonable amount of time, you will be stuck paying two mortgages.
