One of the most difficult hurdles in the implementation of cognitive radios for spectrum sharing applications is that of performing adequate spectrum sensing. For these applications, harmful interference may result if sensing is not reliable, efficient, and timely. In this talk, we introduce and analyze algorithms for modulation classification and signal-to-noise ratio (SNR) estimation that further the development of this critical sensing stage. The first of these algorithms is an asynchronous and non-coherent modulation classifier for PSK/QAM modulated signals in flat-fading channels. This classifier uses low-complexity estimators for the unknown time delay, channel gain, phase, and noise power which are blind to the modulation format of the received signal. Using these low-complexity estimators, we then present an asynchronous SNR estimator for PSK/QAM modulated signals in flat-fading channels which requires no a priori knowledge of the modulation format and channel parameters.