Get pre-approved by a lender, choose a buyer's agent, then shop and make an offer. Once the seller accepts, you inspect the house, the lender orders an appraisal and finishes your loan, and you do a final walk-through before you sign at closing and get the keys. Your purchase agreement sets the deadline for each step after the offer.
12 questions to ask the sales rep, eight builder-contract red flags, and a pre-drywall checklist you can print and take to the site.
I'm Wes Johnston, a Realtor with Trueblood Real Estate in Fishers. I'm not a lender or a lawyer. Loan questions below go to a lender, and contract terms are set by your purchase agreement.
Here's the thing: the steps are the same for everybody, but the order matters. Most first-time buyers want to start by looking at houses. Start with a lender instead. Once you know your number, everything after it moves faster and with a lot less stress.
Talk to a lender before you look at houses. A pre-approval means the lender has pulled your credit and reviewed your income, assets and debts, and it tells you how much you can borrow. A pre-qualification is a quicker estimate based on what you tell them. When you make an offer, sellers take a real pre-approval more seriously.
Talk to more than one lender and compare their Loan Estimates line by line. Ask each one what your monthly payment would be, including taxes and insurance, not just the loan amount. What a lender will approve and what you're comfortable paying every month aren't always the same number.
Yes. The Indiana Housing and Community Development Authority (IHCDA) runs homeownership programs that include down payment assistance (IHCDA: Homeownership Programs). You don't apply to IHCDA directly. The state says to start with one of IHCDA's participating lenders (IN.gov FAQ).
Program rules, income limits and amounts change. I've put what one lender's current program sheet lists on a separate page, with the date. Ask a participating lender whether you qualify and how the assistance would affect your loan, your monthly payment and your closing costs. Ask early, before you start writing offers.
You don't have to use one, but a buyer's agent works for you, not the seller. That means pricing advice, writing the offer, managing the deadlines and negotiating after the inspection.
Before you tour homes with an agent, you'll sign a written buyer agreement. That's been the national practice since August 2024 (NAR: The Facts). The agreement spells out what the agent will do and how they get paid. Read it before you sign it, and ask questions. I walk every buyer through mine line by line.
Write down what you need and what you'd like, and keep them separate. Needs are things like the number of bedrooms, your commute, and your top price. Likes are things you'd trade for the right house. Then set up a saved search so new listings reach you the day they hit the market.
When we see houses, I'll tell you what I see: what's wrong with it, what it might cost to fix, and whether the price makes sense. Don't forget to look at new construction too; some builder homes never show up in the usual search. If you're weighing the two, read new construction or resale.
Price is only one part. An Indiana offer is a purchase agreement that also sets your earnest money, your loan type, how long you have for inspections, how the appraisal is handled, what stays with the house, and the closing date. Every one of those terms can make your offer stronger or weaker to a seller.
The seller has to give you the state disclosure form before accepting your offer, with a few exceptions such as a brand-new home nobody has lived in. My Indiana seller's disclosure guide explains what it covers.
After the seller accepts, your purchase agreement gives you a set amount of time to have the house inspected. Hire a licensed home inspector right away. In central Indiana, add a radon test; seven of the eight counties in and around Indianapolis are in the EPA's highest radon zone (EPA: Map of Radon Zones; more in my radon guide).
When the report comes back, we decide together what to ask for: repairs, a credit, a lower price, or nothing. The full process is in how the home inspection period works in Indiana.
If you're getting a loan, your lender orders an appraisal to confirm the house is worth what you're paying. If it comes in at or above your price, you move on. If it comes in low, you have options, and I cover them in what happens if the appraisal comes in low.
While that's happening, your lender is finishing underwriting. Don't open new credit, change jobs, or make big purchases until after closing without asking your lender first.
Shortly before closing, at the time your purchase agreement allows, we go back through the house. You're checking that it's in the condition the contract calls for, that any agreed repairs were done, and that what's supposed to stay is still there.
You'll get a Closing Disclosure from your lender before closing. Compare it with your Loan Estimate. At the title company you sign the loan and transfer documents, the money moves, and you get the keys. In my experience the stretch from accepted offer to closing usually runs 30 to 45 days.
Two things first-time buyers often miss. Buyer and seller both sign Indiana's sales disclosure form at closing, and you can use it to apply for the homestead deduction on your property taxes. And your first tax bill may not look like the seller's. My closing costs guide and property tax guide explain both.
More buyer questions, answered: how the inspection period works, what happens if the appraisal comes in low, new construction or resale, how earnest money works, what happens on closing day, and what to know before moving to Indianapolis. For the money side, see Indiana closing costs and Indiana property taxes. My buyer page has how I work with buyers.
Seeing someone buy their first home, and get what they were looking for, is my favorite part of this job. Tell me where you are: just starting to think about it, talking to a lender, or already looking. I'll tell you what comes next.
I'm not a lender, and I'll point you to one when a question belongs there.
Fishers-based. First home or fifth, the steps get explained. Committed to your success.
No question is too basic. Send it and I'll answer it straight.
Send a MessageIf you own a home now, its value shapes your budget. Start with an instant estimate.
Tell me where you are in the process and what you're looking for. I'll get back to you with the next step.
Loan and assistance questions go to a lender; I'll help you find one if you need it.
This page is general information, not financial or legal advice. Loan programs, down payment assistance and qualification rules vary and change; ask a lender about your situation. Contract terms are set by your purchase agreement.