Alaska AMC Bond Overview
- Purpose: To ensure that real estate appraisal management companies comply with state regulations
- Who Needs It: Most residential real estate AMCs operating in Alaska
- Regulating Body: The Alaska Board of Certified Real Estate Appraisers
- Bond Amount: $50,000
- Premium Price: $500 for a one-year term
What Is an Alaska Appraisal Management Company Bond?
An Alaska appraisal management company (AMC) bond protects home buyers and sellers from harmful business practices. It makes sure that appraisers are paid and appraisals are done honestly.
The Alaska Board of Certified Real Estate Appraisers requires a $50,000 surety bond for all AMCs operating in the state.
Who Needs an Appraisal Management Company Bond?
Most appraisal management companies in Alaska must be bonded with the Board. However, the following types of companies are exempt:
- Internal employees who provide appraisal management services only for their own organization
- Bank-owned AMCs regulated by federal financial agencies
- Real estate appraisers hired by another appraiser
How Much Do AMC Bonds Cost in Alaska?
The $50,000 Alaska AMC bond costs a flat rate of $500 — no credit check required! You can also select a multi-year term at checkout to save 25%.
Click below to buy your bond in minutes.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does an Alaska Appraisal Management Company Bond Work?
An Alaska real estate appraisal management company bond creates a legal contract between these three parties.
| Bond Party | Description |
|---|---|
| Principal | The appraisal management company owner filing the bond |
| Obligee | The Alaska Board of Certified Real Estate Appraisers requiring the bond |
| Surety | The issuing surety provider |
The surety bond is a financial guarantee to the Board that you’ll uphold Alaska Statutes, Title 8, Chapter 87, Article 3. This includes the following duties:
- Separately disclosing the appraiser’s fee and the AMC’s service fee
- Reporting appraiser misconduct
- Maintaining accurate records for as long as required
- Complying with Board inspections
If you violate these laws, harmed parties can file claims against your bond to recover financial losses. The surety will pay valid claims up to the full $50,000 bond amount, but you’re responsible for refunding the surety.
How Do I Get an AMC Bond in Alaska?
With SuretyBonds.com, you can purchase your Alaska AMC bond online 24/7. Simply enter your name, address and payment method into the form on this page.
How Fast Can I Get My Bond?
The Board requires AMCs to file a physical bond form. At checkout, you’ll have the option for overnight, two-day, or three-day shipping.
Can I Get Bonded With Bad Credit?
Yes, this bond does not require a credit check! Everyone qualifies for the same flat rate, regardless of credit score.
How Do I Renew My Bond?
Alaska AMC bonds expire annually. You must renew your bond to maintain your state registration.
If you purchased your bond from us, we’ll send you reminders and a renewal invoice starting 90 days before expiration. All you need to do is pay the premium to extend your bond term.
Can I Make Changes to My Bond?
You can often request minor updates to your bond form, such as name or address, by contacting your surety company. Note that you cannot update the bond yourself and major changes will require a new bond form.
Current Customers: Email [email protected] with the updated information.
How to Register an Appraisal Management Company in Alaska
All real estate appraisal management companies in Alaska need to register with the Board of Certified Real Estate Appraisers. Follow these steps to register your company:
- Get an Alaska business license. Corporations and LLCs also must register with the Corporations Division.
- Purchase a $50,000 surety bond.
- Complete the application form. Include payment for the $1,200 fee.
Mail your signed application to the address below:
Real Estate Appraisers Program
550 West 7th Avenue
Suite 1500
Anchorage, AK 99501
Applications may take several weeks to approve.
What Is the Federal Registry?
The Federal Registry is an annual reporting requirement for most AMCs operating in Alaska. These AMCs must submit a yearly report documenting the appraisers who worked on federal transactions.
To determine if your AMC needs registered, complete the questionnaire on the application form. Typically, your company needs to be a single or multi-state AMC and not federally-regulated.
If your AMC needs to be federally-registered, complete the separate application form and pay the required fee.
