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Self-editing is a step along the way (especially with help from a live or online peer group of developing authors). It can even make an ms presentable enough to attract interest. But if it does attract interest from a trad and selective house or agent if WILL be fully re-edited and then professionally copy edited and finally proof read by several sets of experienced eyes (but free).
Using a good freelance editor will help attract that interest. But here's a VITAL tip ... never tell your prospective publisher or agent that the ms has already been 'professionally edited'. That's between you and the freelance you hire. Not only does the publisher or agent not want to know, telling him outright will often count as a black mark against you. It carries the same message as 'this has been praised as "brilliant" by tutors on my Creative Writing course.'
For instance, my own wee house has recently taken to adopting ebook rights from major publishers who hold print rights only. The level of editing is, of course, top notch. But, where possible, we ask to start with an author's raw copy. We don't trust even Big House editors.
And that's not just a matter of having our own house-style. You'd be amazed at some of the glaring errors we're coming across when re-releasing out of print books we've recently taken print and digital rights on.
If mistakes are made, we'd rather carry the can ourselves. So far, so good.
Having said that, if you feel your MS does need a pro edit BEFORE submission, go for it if you can afford to. Always give a submission its best shot. It's YOUR work and you've slaved and shed blood and tears over it. Don't sink the ship for a ha'penny's worth of tar. Just keep the pre-edit by a pro tightly under your hat.
Good luck. Neil
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