Selling Primary Residence, Help!

[Justine Scheuher]

After owning my house for 2 years, I'm ready to sell and move on. I bought before I new about BP so I want to start over with a house that fits my needs better. 

I don't want to rent it because I would be breaking even (or losing a few hundred/m) and I want to free up my DTI and hopefully use profit to buy two smaller houses.

Questions:
1. In order to make money, I cannot afford to pay the 6% relator fees..so I would be For Sale By Owner (but not opposed to paying the buyers relators 3%)

Does anyone have any info on the process of what the seller (me) would have to do to close? For example, if I had an offer.. I would ask for pre-approval, negotiate, and then... ask for earnest money and put it where, under my bed? (lol, just kidding..but seriously--do I give it to my lender who holds my mortgage?) Do I have to order the title stuff, escrow, etc or is that all done by their relator? If buyer is paying for closing costs does the seller still have closing costs to pay? (I've only bought 2 properties never sold..)  Any advice is much appreciated!! 

Also--- the house is a 3bed 1 bath...  If I added a bathroom before I sold it.. how much does that typically increase the value of my house by?

[Jaysen Medhurst]

@Justine Scheuher, I would strongly recommend you reconsider FSBO. FSBOs consistently sell for less and stay on the market for longer. The reduced price and additional carrying costs will easily offset the realtor fees you're "saving."

Unless you have a very unique situation, you are unlikely to recoup the costs of adding another bathroom. Plus you're talking months to get quotes, the permits, do the work. Not worth it.