Take your cue from the recent pace of home sales transactions on your block and in your neighborhood. Ask yourself whether the houses nearby are selling well, poorly, or not at all. This should influence your reply. Your own needs will also affect your answer. If you have to start a new job in two months in another city, you're going to be more amenable to a lower offer than if you have plenty of time to sell.

Keep in mind that real estate markets can be fickle and subject to mood swings worse than those of a teenager. Do not assume that if you receive one bid, others inevitably will follow.

If the offer is well under what you had expected -- and most are, as buyers typically start low and try to get the best deal possible -- you could try to sweeten the deal by making improvements like painting or repairs, that would please your potential buyer. You could also try financial concessions such as second mortgages or an assumable loan, or a guarantee on the home's condition called a "seller's warranty."

A Realtor with many years of experience said she always encourages her sellers to counteroffer because buyers normally make an offer lower than the asking price. "The buyer is trying to get the lowest price possible," said the Realtor, who now specializes in high-end homes, "so you go back and forth until you reach a price everybody accepts, or settle on terms. For example yesterday, I had an 'asking price' offer -- which is very unusual, one in a million -- and the terms had to be negotiated, security deposit, closing time, that sort of thing."

Many times the offer is lower than the seller had hoped, and the increasing use of buyer's brokers," who represent the buyer, has made the process much more difficult. "It's become tougher to negotiate the deals now," the Realtor said. Sometimes the situation becomes combative, she said, and the deal can even fall apart.

Let's assume that you and your buyer reach an agreement on the details of the sale. Your real estate agent will provide printed form contracts, but you may add any additional items that pertain to the sale. Be careful, however, to record every minor detail in writing in the sales careful, however, to record every minor detail in writing in the sales contract so there are no questions later that might become sticking points and derail the process. It is also your option to ask your real estate agent or attorney to check the sales agreement to avoid any errors or omissions.

Following the signing of the contract of sale, the buyer will be hiring a home inspector and shopping for mortgage money. The contract states the price of the property, the down payment, the date of the closing and a full legal description of the land and any other items you wish to add.

When filling out the contract, be sure to specify those items in your home you intend to leave to the buyer and what you intend to take when you go. The rule of thumb is that items that are attached to the structure -- dishwashers, drapes or carpet -- stay with the property. But all of it is negotiable.

One agent recalled a sale that almost failed to close after the parties became embroiled in a dispute over a television remote control. The seller wanted to keep the remote -- without the TV! And the buyer wanted the remote, of course. "It was one of those big screen things," the Realtor said. "They were new then, and you couldn't just buy another remote." Again, specify in writing exactly what you intend to take with you.

The contract also will include a clause that says your property meets local zoning codes, has a certificate of occupancy and contains nothing that might run afoul of various laws. Most lenders now require such declarations.

The sales contract usually gives the buyer the right to an inspection of the property by a professional home inspector before the closing date. You, as the seller, may have to correct problems found during the inspection or to renegotiate the contract. If you don't, the deal may not close.

Experts caution sellers to avoid purchasing another residence before the sale of their current home has closed, unless they can afford two mortgages. It is tempting, once you have accepted an offer, to forge ahead with your search for a new home. But because you have accepted an offer does not ensure the sale will occur. Wait until the closing takes place before entering into any additional agreements.