Watch this video to find out the minimum every seller should do.

If you have almost no budget for improvements before the sale:

• Clean up the yard. Create the best "curb appeal" you can with what you have. Sometimes it's as simple as hiding the trash cans.
• Box up and remove all the clothes, books, kitchen and personal items you don't need or use very often. Clear and uncluttered spaces sell better than smelly cluttered ones.
• Take care of any deferred maintenance projects you can afford or can do (well) yourself. A cared-for property reassures buyers.

If you have some money to spend on improvements before the sale:

• Pick your projects carefully. A great way to know what buyers value in your neighborhood is to look at what recently sold, how much and how fast. Improvements are often not worth doing before a sale.
• Deferred maintenance can turn off some buyers. If you've got leaky faucets or other obvious and easily repaired items take care of them before advertising the sale.

Unless you are totally renovating a property to bring it up to move-in condition for the average picky buyer, there is no financially sound reason to invest in a lot of cosmetic renovations. Often, buyers want to pick the color of the walls, cabinets and counters anyway. Focus on showing off the best features in your house rather than spending a lot on improvements.

Prepare Your House for Sale has more detail on preparing your home for sale.