Minor repairs that can be fixed before listing (such as landscaping) and/or cost less than $5,000 each to fix, like painting, trash removal, or gutter repairs and cleaning.

Major repairs you'll either have to fix or otherwise disclose to buyers, such as water and sewer systems, structural systems, electrical, HVAC systems, wood-destroying insects, and hazardous materials such as lead paint.

Issues from the above lists (or others you may have missed) that have the greatest potential to become deal breakers that drive away buyers. Depending on the market, these deal breakers could include a cracked foundation, a leaky and/or moldy basement, extensive termite damage, an old roof that needs replacing, or window-unit air conditioning. This is the list you ultimately want to focus on.

What you add to the deal breakers list will depend on both your goals and your local market. Does a quick sale take precedence, or is your main goal a high selling price? Are there issues that local buyers are consistently walking away from? Your agent will have those insights, and can help you determine which repairs will strike the balance in between.

How to Sell Your Home When Major Repairs are Needed

Repairs for some major potential deal breakers, like old roofs or moldy basements, can be paid for with an equity line of credit you pay off at closing. For repairs you absolutely can't afford to fix —but can't afford not to fix if you want it to sell — you have three options:

Get repair estimates from local contractors. Proceed with selling as planned and disclose problems as required by law. Should the issues surface in the buyer's inspection, be prepared to fix them before closing or lower the sales price.

Make the minor, inexpensive repairs, then get an appraisal to determine your home's market value. List your house at that value, minus the cost of repairing any potential deal breakers your agent has identified. Share the estimates with serious buyers and their agents, explaining that you lowered the price and why. A lower price should attract interest, and bidders may even raise their offers beyond what the repairs would cost you.

Sell your house "as is." Don't make any repairs or improvements, but price your home a good deal lower than its actual value to reflect the home's condition. The low price could generate a lot of interest, especially from investors, and your best offer may be as high, or higher than, the actual value. This can be a gamble in a cooling market, but your agent will know if it's a strong option.

There's no "one-size-fit-all" solution to identifying the most important repairs sellers should make, but as long as you identify your goals and work with a knowledgeable agent, you'll enjoy a much more successful selling process.