Frequently Asked Questions About The Home Buying & Selling Process

Answered By Kersten Reed Bowman

What is an Earnest Money Deposit (EMD)?


The EMD is a monetary deposit held by the Title Company in a real estate purchase in order for the Buyer to show good faith in their process to complete a home purchase.  It is typically a percentage amount (1-2%) of the purchase price, however it is negotiable.

Are home inspections mandatory?


No. A private home inspection is not required for any loan or cash transaction, however I do recommend them. Depending on the size of the home, most home inspections can cost $400-500. You typically have 15 days to complete this particular inspection, however the timeline is negotiable. 

What is a Wood Destroying Organism (WDO) Inspection?


A WDO Inspection is a written report of an inspection on a home for visible and accessible evidence of an infestation or damage by wood destroying organisms. A WDO Inspection is required by most lenders in order to complete the loan process.

Do all homes provide a home warranty?



How much are closing costs?


Closing Costs will vary per real estate transaction and are different depending on if you are the Buyer or Seller of a property. Working with a local lender and title company will allow you to view a tentative amount prior to purchase. Some costs that can be associated with closing are: Doc Stamps on the Deed, Settlement and Recording Fees, Title Insurance Fees, Survey(s), Appraisal(s), and many other costs. The closing costs for most transactions will be roughly 1.5-2% of the purchase price. ALL closing costs can be negotiated.

Who pays commission for using a real estate agent?


The Seller of the transaction typically pays for Real Estate Agent Commissions and Fees.

How long does a Residential Real Estate transaction take?


Residential Real Estate transactions can fluctuate throughout the process due to extensions to the contract, holidays, or other delays.  However, the majority of residential real estate transactions take 30-45 days from the point of an executed contract between the Buyer and Seller to the closing date.

Do I have to be physically present to purchase a home?


No. Programs such as DocUSign and ESignature have made the process of going under contract to buy or sell a home from afar a breeze. In addition, a Title Company can do an overnight mail out for all final documents requiring a wet signature and a notary.

Kersten would be happy to provide you with information on any additional questions you may have. Just fill out the contact form or call 251-455-8177




Livin' Right Real Estate

102 Buck Drive

Fort Walton Beach, FL 32548

Kersten: (251) 455-8177

Office: (850) 426-4136




Kersten: (251) 455-8177

Office: (850) 426-4136


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Kersten Bowman is an independent contractor sales associate of Livin' RIght Real Estate and is not an employee of Livin' Right Real Estate. Livin' Right Real Estate is a licensed real estate broker located at 102 Buck Drive, Fort Walton Beach, FL 32548 and  is independently owned and operated. All content on this website has been compiled from reliable sources and is intended for informational purposes only. Though information is believed to be correct, it is presented subject to errors, omissions, changes or withdrawal without notice. This is not intended to solicit property already listed. All dimensions provided are approximate. To obtain exact dimensions, Livin' Right Real Estate advises you to hire a qualified architect or engineer.


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