If you're looking for your next house near where you currently live, you may have already begun your "homework," by visiting open houses, reading classified ads (in print and online), and visiting websites containing listings. If not, this is a great way to start. Websites that publish the Multiple Listing Service (MLS) are particularly helpful, such as http://www.realtor.com, by the National Association of Realtors (NAR).

Of course, list prices don't tell you how much houses ultimately sell for. In a hot market, they might go for well over list price, and vice versa. An easy way to find this out is to go to websites that collect this data, such as http://realestate.yahoo.com/Homevalues or http://www.domania.com. This information will also help you decide which of the incoming purchase offers are realistic.

Don't just wait for your real estate selling agent, if you use one, to put a dollar figure on how much your house is worth. For one thing, less scrupulous agents may inflate their estimates in order to capture your business. More importantly, you want to be educated about your house's real value in order to work intelligently with your agent and make rational decisions when negotiating with buyers.

Step 3: Assemble Your Team of Professionals

Most sellers prefer to work with a real estate agent or a lawyer at some point in the process. (In fact, in a handful of U.S. states, a lawyer must be hired to help finalize the sale.) Real estate agents usually charge a commission -- currently totaling about 5% -- to be split between your agent and the buyer's agent, if any. Lawyers normally charge by the hour, around $200 per.

Despite the costs, experienced, responsible professionals can ultimately save you time, money, and aggravation. Unfortunately, there are plenty of incompetent or unethical ones out there, too. Take the time to get referrals from friends, and meet with a few prospects before you hire anyone. Or, if you're organized, good with finance and legal issues, and have some time to spare, you can sell the house on your own, and save the commission.