Property Q&A in Indianapolis>Question Details

Thomas, Home Buyer in Indianapolis, IN

We are first time home buyers wanting to know what steps are needed to see and or purchase this home?

Asked by Thomas, Indianapolis, IN Thu Jan 1, 2009

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I agree with my peers. When dealing with first time buyers, I like to sit down and learn about your goals and desires, expectations and fears. Next we will discuss lenders and financing options to prepare you for a preapproval that meets your budget concerns (I can gladly refer you to lenders who have served my clients well.)

Now, let's choose the area of town. Then we will discuss the type of home you want and get a list together of four or five competing properties. If this home is located where you are comfortable, we could find several other choices. Looking at more than one home will give you more knowledge of the market and a better feeling for value, either adding confidence in this particular home or opening up other ideas.

After selecting the home you desire, we will submit the offer, counter back and forth, and after acceptance the work begins for the professionals you have chosen! Inspections, appraisals, and generally handling the transaction on your behalf until the end- when you are a proud and happy homeowner!
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0 votes Thank Flag Link Sat Jan 10, 2009
Hey Thomas,

Best place to start...make sure you have your credit in great shape. If your credit is good, pre-approval from a bank is the next step. There are many resources available to first-time home buyers. It may benefit you to check out . Educate yourself before you make big decisions. Buying your first home is an important step in your life. A Realtor can guide you through the process. Interview several and make a decision based on your comfort level and the information they provide you. It is a great time to be a buyer - interest rates are low and there are many homes to choose from.

Best regards.

Joe Huberts
Carpenter Realtors
0 votes Thank Flag Link Wed Jan 7, 2009

First off I would like to say I like Martin's approach in answering your question. Now I will put my 2 cents in. Home buying is not a process but an adventure. I can give you the basics: Get preapproved with a lender, find an agent, set criteria for the home, make an offer. That is the home buying process in a bland nutshell. But it really is so much more than that. Buying a home for the first time should be exciting, thrilling, and nerve wracking. That is where I come in. Check out my website I have videos to help guide you through.

I look foward to hearing from you
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0 votes Thank Flag Link Sat Jan 3, 2009
Hello Thomas (Can I call you Tom?)
I'm not so sure that all of the previous answers to your question actually helped you in answering your question. Obviously, first time home buyers (as well as many other buyers) do not know what all is involved in purchasing real estate and are sometimes hesitant to ask a "salesman" for advice for fear of being taken advantage of. I also thought it was interesting that none of the writers offered to "help" you with the process of finding a house (except for the one that wanted to show it to you right away). And no one even mentioned that as a 1st time home buyer you would probably qualify for up to a $7500 refundable tax credit when buying a house. Were you aware of this program? As a real estate consultant, it is my job to provide you with enough information so that you can make smart, well informed decisons that are in your best interests. If you are still interested in becoming a 1st time home buyer, then contact me at your earliest convenience so that we can start working on the process of accomplishing your real estate objectives.

Martin Wallinger
Coldwell Banker
0 votes Thank Flag Link Thu Jan 1, 2009
Nice home, but there are tons more like it. Just like all the other agents said, get prequalified from a good lender and have an agent you like and trust find some other good deals for you!
0 votes Thank Flag Link Thu Jan 1, 2009
Hi Thomas,
I checked on the property you are interest in and I see it is in pending state as of 12/31/2008. So it might not be available now.... sorry..... Pending is based on signed real estate contracts for existing single-family homes, condos and co-ops. A signed contract is not counted as a sale until the transaction closes. So
someone has put in an offer on this property and it is believed to be sold.....But that does not mean for sure that it is going to happen but it is on its way. But, the good thing is there are a lot of houses for sale that you can check out. Good advice has been given from the different answers below.

It would be a good idea to talk with a lender to see how much you would be able to get for a mortgage, if you are working with an agent they also can help you find someone in the mortgage area. If you are interested in Hud Homes you need to have an agent to put a bid. I would say definitely go to see the property, most like to have a inspection done on the house and then put in your bid or offer. An agent would help you out a lot. I have worked with first time home buyers and it is a fun process. Don't get frustrated....have fun with it all. All the best to you. Shirley DeMerchant
0 votes Thank Flag Link Thu Jan 1, 2009
Happy New Year! The process is very simple and I would be happy to walk you through it. I could show you that home as soon as today, assuming it is still available. It's great to be a buyer right now! Call or email me asap. Thanks!

Pete George - REALTOR
Century 21 Scheetz
317-702-2881 - Cell
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0 votes Thank Flag Link Thu Jan 1, 2009
Thomas..There are several steps that will help you in pursuing this or any other home. First...Meet with a realtor who can guide you through the home buying process. Second...Meet with a mortgage lender who can also guide you throught the mrotgage process....can you be pre-qualified, interest rates, closing costs, length of loan, seller assistance, FHA availability, downpayment, etc. Third....At this point you will have great information regarding the amount of mortgage you qualify for and can then start looking with your realtor.
Information is your ally!
0 votes Thank Flag Link Thu Jan 1, 2009
Thomas,hud has great pkg for first time homebuyer,you need to find a realtor,who is registered to bid on hud homes,and they can get you in anytime,just make sure its still available,when bids are due etc..Good luck

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0 votes Thank Flag Link Thu Jan 1, 2009
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