How much does a $25,000 appraisal management company surety bond cost in Colorado?
Colorado appraisal management company bonds cost just $250. Simply click Buy Now to visit our secure bond checkout to purchase your bond online today. In just a few minutes you can be on your way to being bonded as an appraisal management company in Colorado.
|Bond Type||Bond Amount||Cost|
|$25,000 Appraisal Management Company Bond||$25,000||$250|
Why do I need this bond?
Appraisal management companies—or AMCs—in Colorado must post a $25,000 surety bond with the Department of Regulatory Agencies - Division of Real Estate
Colorado AMC bonds ensure that principals (appraisal management companies) comply with all provisions of the law. This includes paying damages consumers suffer as a result of the principal’s acts of fraud, forgery, criminal impersonation, or fraudulent impersonation while conducting business as an appraisal management company or any other occupation which requires licensure as an appraisal management company.
What’s the fine print?
Colorado appraisal management company bonds remain valid for one year from the effective date and must be renewed annually. The surety can cancel this bond at any time by giving 30 days’ written notice of cancellation to both the appraisal management company and the Colorado Division of Real Estate.
How to become an appraisal management company in Colorado
In addition to posting a surety bond, Colorado appraisal management companies must do the following to become licensed:
- Submit fingerprints for controlling appraiser (CA) of AMC and any person who has, either directly or indirectly, more than 10% ownership interest in AMC
- Complete and submit AMC license application
- Determine ownership of AMC
- Obtain surety bond
- Register with Colorado Secretary of State Registration
Licenses expire December 31st of the year of issue. Applicants should be prepared to renew the issued license by the end of the year of issue.
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