Details of the chemical mechanism underlying the growth of colloidal semiconductor nanocrystals remain poorly understood. To provide insight into the subject, we have preformed a comprehensive study of the polar (0001) and (0001) and nonpolar (1120) wurtzite CdSe surfaces that are exposed during crystal growth using first-principles density functional theory (DFT-GGA) calculations. Stabilization of these surfaces by relaxation and reconstruction was considered. Two particular reconstructions of the polar surfaces were examined: vacancy formation on a 2 x 2 unit cell and addition of Se and Cd atoms on the (0001) and (0001) surfaces, respectively. Calculation results indicate that the (1120) is the most stable surface when compared to the two polar surfaces. Furthermore, reconstructions of the (0001) surface are energetically favored when compared to reconstructions of the (0001) facet. Adsorption of Cd and Se atoms and the CdSe molecule on the three relaxed surfaces and two reconstructed (0001) surfaces were also investigated. Several binding sites were considered to determine the most stable binding geometries and energetics. Atomic species preferentially bind in either 2-fold or 3-fold sites, while the CdSe molecule binds parallel to the surface on all of the considered surfaces. Vibrational frequencies of the adspecies were calculated for the most stable binding configurations and were included in the zero point energy correction. Diffusion barriers for the atomic and molecular species were estimated where possible to be between 0.2 and 0.4 eV on the three relaxed surfaces. Thermochemistry of the CdSe molecule binding and dissociation was also investigated. On all considered surfaces, dissociation is preferred to desorption with dissociation only exothermic on the (0001) surface. Comparison of the three relaxed and two reconstructed surfaces indicates that CdSe molecule binding and dissociation is thermodynamically favored on the (0001) surface. This implies that under a reaction-controlled regime, the rate of homoepitaxy would be faster on the (0001) Se terminated surface than on the (0001) and (1120) surfaces, making the (0001) surface of a nanocrystal the primary direction of growth.