Appraisal Management Company Bond Guide
Learn how the bonding process works for appraisal management companies in this guide.
Quick Bond Facts
- Purpose: To protect home buyers and sellers from financial loss if an appraisal company causes harm
- Who Needs It: Residential real estate appraisal management companies in several states
- Regulating Body: The state's real estate licensing division, commission or board
- Required Amount: Typically $25,000, but coverage varies by state
- Premium Rates: Start at 1% of the bond amount, often available with no credit check
What Is an Appraisal Management Company (AMC) Bond?
Appraisal management company bonds are required by individual states as part of the licensing process. An appraisal management company (AMC) bond guarantees AMCs will operate by all federal and state laws relating to the industry. AMC bonds may be used to reimburse those who suffer loss if an appraisal company fails to abide by the bond terms.
SuretyBonds.com is licensed to issue appraisal management bonds nationwide. As the industry’s top surety provider, we offer the best service, fastest delivery and most affordable prices.
AMC Bond Requirements By State
AMC bond requirements and amounts are specific to each state. Rates may vary depending on the location in which you are looking to become licensed.
Select your state below for more information about AMC Bonds in your area:
How Does an Appraisal Management Bond Work?
If an AMC causes loss or damage by breaching the bond terms, consumers may file a claim. The surety provider will pay for valid claims up to the full amount of the bond. However, the appraisal company must then reimburse the surety.
How Much Does an AMC Bond Cost?
The premium cost for your Appraisal Management Company bond will be based on a few factors:
- Bond amount
- Number of business locations
- Credit score
Applicants with strong credit will pay a smaller premium — typically just 1-5% of the bond amount. This means you could get $20,000 of coverage for just $200.
Getting an AMC Bond With Bad Credit
Don’t let your financial situation keep you from getting the AMC bond you need! Our Bad Credit Bonding Program helps us approve 99% of applicants. Apply now to see if you qualify.
