How to reset to factor new settings

I bought a Macbook Pro from craigslist and the guy I bought it from had not reset it to factor. This is my first Mac and I'm not exactly sure what I'm doing.  There is Final Cut pro and Aperture software and Office for Mac installed. When I do this reset will those programs be lost? Any and all advice will be very helpful. Thank you

You cannot reset it to factory default without erasing the drive. On the other hand you cannot reinstall Mountain Lion unless you buy your own copy of it from the App Store because you cannot install the version installed by the seller unless you have the seller's Apple ID and password.
So I suggest you get onto the App Store and sign in with your Apple ID and password. Then see if you are able to purchase and download your own copy of Mountain Lion. If you can then I suggest you see the following before you attempt installing it:
Make Your Own Mountain/Lion Installer
1. After downloading Mountain/Lion you must first save the Install Mac OS X Mountain/
    Lion application. After Mountain/Lion downloads DO NOT click on the Install button.
    Go to your Applications folder and make a copy of the Mountain/Lion installer. Move
    the copy into your Downloads folder. Now you can click on the Install button. You
    must do this because the installer deletes itself automatically when it finishes
    installing.
2. Get a USB flash drive that is at least 8 GBs. Prep this flash drive as follows:
  a. Open Disk Utility in your Utilities folder.
  b. After DU loads select your flash drive (this is the entry with the mfgr.'s ID and size) from the left
      side list. Click on the Partition tab in the DU main window.
  c. Under the Volume Scheme heading set the number of partitions from the drop down menu to one.     
      Set the format type to Mac OS Extended (Journaled.) Click on the Options button, set the
      partition scheme to GUID then click on the OK button. Click on the Partition button and wait until
      the process has completed.
  d. Select the volume you just created (this is the sub-entry under the drive entry) from the left side
      list. Click on the Erase tab in the DU main window.
  e. Set the format type to Mac OS Extended (Journaled.) Click on the Options button, check the
      button for Zero Data and click on OK to return to the Erase window.
  f. Click on the Erase button. The format process can take up to an hour depending upon the flash
     drive size.
3. Locate the saved Mountain/Lion installer in your Downloads folder. CTRL- or RIGHT-click on the installer and select Show Package Contents from the contextual menu. Double-click on the Contents folder to open it. Double-click on the SharedSupport folder. In this folder you will see a disc image named InstallESD.dmg.
4. Plug in your freshly prepared USB flash drive. You are going to clone the content of the InstallESD.dmg disc image to the flash drive as follows:
  a. Double-click on the InstallESD.dmg file to mount it on your Desktop.
  b. Open Disk Utility.
  c. Select the USB flash drive from the left side list.
  d. Click on the Restore tab in the DU main window.
  e. Select the USB flash drive volume from the left side list and drag it to the Destination entry field.
  f. Drag the mounted disc icon from the Desktop into the Source entry field.
  g. Double-check you got it right, then click on the Restore button.
When the clone is completed you have a fully bootable installer that you can use without having to re-download Mountain/Lion.
Note: The term Mountain/Lion used above means Lion or Mountain Lion.
As an alternative to the above (you still have to do your own download of Lion/Mountain Lion) you can try using Lion DiskMaker 2.0 that automates the process of Steps 2 through 4.
Once you get this far you can go about either erasing the drive first then installing Mountain Lion or simply reinstalling over the existing system.
As for the third-party software you have the seller should have provided you with the original installation DVDs and the registration keys. If he did not then you got cheated.

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