Selling your property is one of the most important financial transactions you'll ever make.

Take 10 minutes to familiarise yourself with the basic steps of a sale.

Before you begin: Do your homework
Any house is only worth what someone is prepared to pay for it, so you need a realistic figure of what you can expect someone to pay for yours.

The average (free) valuation figure from three local estate agents is a good place to start. You need to know what similar properties to yours are selling for too. And you need to know if you're in a seller's market. That is, are houses selling for their asking price or more in your area? Talk to estate agents and look on property websites to get a feel for the market.

Step 1: Take some key decisions
Before you put your house on the market, you need to decide:
- If you're going to carry out any essential repair work on the house (properties that need a lot of work tend to be harder to sell for the asking price)
- How you're going to sell it (privately, at an auction, or - like most people - via an estate agent?)

Step 2: Work out your budget
There are costs incurred in selling a house, as well as buying a new one. You'll need to budget for a solicitor and your estate agent's fees. Expect to pay a solicitor about £550 on a property worth £100,000. The estate agent's fee (usually around 1.5-2.5% of the eventual selling price for your property) is deducted by your solicitor as part of the sale.

Step 3: Think about home improvements
Spending even a little time and money preparing your house for sale is usually a good investment. Getting rid of clutter (inside and especially any unsightly rubbish outside), painting all the walls white and/or steam cleaning your carpets can all make a difference.

For more free advice, watch property programmes on television. In general, less is more and neutral is best when it comes to 'dressing' a property. You should always show buyers a clear function for each room.

If you've got some money to spare, you might think about offering planning permission for a loft conversion or extension on your property. This can add 10-15% to the value of your house. Over ninety per cent of applications get approved. All you need to do is submit to the council:
- Scaled plans (check your council's website for specific requirements); if you get an architect to do this, expect to pay £1,000-£2,000
- An application form
- A fee for processing the application (currently £135)

Step 4: Cue the experts
Early in the process, you will need to hire a solicitor or qualified conveyancer to carry out the legal work on the sale of your house. Ask friends or relatives for recommendations. You can simply request a quote by phone.

Step 5: Decide on an agent and a price
It's not always the best idea to go with the agent who values your property at the highest price. Ask:
- How many similar properties they've recently sold
- How long these properties have taken to sell and how close to the asking price did they get for the seller
- How much they charge
- How they intend to market your house and where

Around 60 per cent of house-hunters start their searches online, so make sure your property will appear online. Ask the agent:
- How many hits does their site get?
- Will your home also feature on a national website?
- Can your home be a featured property?
- Do they send email alerts to prospective buyers?

Selling through a single (or sole) agent is cheaper (about 1% of the sale price). Marketing through more than one costs more (about 3.5% goes to the successful agent), but often results in a quicker sale. Remember all agents' fees are negotiable and don't be afraid to bargain.

Step 6: Show off your property
Keep your home clean and tidy at all times, ready to show to any spur-of-the-moment viewers. When welcoming potential buyers, be polite and friendly, but not too pushy. Give them space to explore and discuss among themselves.

Some experts recommend filling the air with the smell of baking bread or fresh coffee: it may be a cliché, but if it works, don't knock it!

Step 7: Negotiate with potential buyers
Hopefully it won't be long before you receive your first offer(s). You will have set a price, but in consultation with your agent you may now have to decide how far you are prepared to drop it. There are many factors to think about here. Have you had lots of interest? Do you need to make a quick sale? Is the buyer in a chain or ready to move immediately?

Consult friends with experience of selling and think carefully about the circumstances of the potential buyer. How long is their chain of other buyers and sellers, for example?

Step 8: Sort out the legalities
When you've accepted an offer, it's time for your solicitor or conveyancer to take care of the various legal requirements of the sale, such as obtaining the property's title deeds and passing them on to the buyer's lender, answering buyer queries via their solicitor, and drawing up a draft contract.

Once the buyer and seller's solicitors agree everything, the draft will be sent to you for approval and then standard contracts will be set up and sent to you to sign.

Once contracts are signed and exchanged, the buyer will pay their deposit (if there is one) to your solicitor, who holds it until completion.

Step 9: Take it to completion
This is the day agreed upon by both parties, when the buyer pays the agreed purchase price to your solicitor, and you hand over the keys to what used to be your home.

If all goes to plan, your solicitor will then pass the money on to you (plus the deposit), and transfer the deeds.