How much does an appraisal management company surety bond cost in Georgia?
The Georgia Real Estate Appraisers Board requires appraisal management companies to post $20,000 surety bonds in order to operate legally within the state. Georgia appraisal management bonds cost just $200 and issued instantly when you work with SuretyBonds.com.
| Bond Type | Bond Amount | Cost | |
|---|---|---|---|
| $20,000 Appraisal Management Company Bond | $20,000 | $200 |
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Why do Georgia appraisal management companies need to be bond?
By purchasing an AMC bond in Georgia, the principal (appraisal management company) guarantees consumers that its duties will be performed faithfully, honestly and lawfully. Although the applicant does not perform the appraisal, they do work directly with important documents involved in a real estate appraisal, and the bond ensures that all pieces of the report are ordered, tracked, recorded, prepared and delivered accurately and in a timely manner. If the applicant conducts business unethically, such as wrongfully altering the appraisal report or neglecting to pass on any special instructions from the lender to the appraisers, this bond protects clients from any resulting financial loss up to the full penal sum of the bond.
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Additional information about AMC bonds in Georgia
Appraisal management company surety bonds in Georgia remain in full effect unless otherwise canceled by the surety or the state.
The Georgia Real Estate Appraisers Board reserves the right to terminate this bond at any time by giving written notice of such termination to the surety.
How to become a registered appraisal management company in Georiga
The process of becoming a registered AMC in Georgia includes, but is not limited to:
- submitting a completed Appraisal Management Company Registration Application
- attaching a Secure and Verifiable Document and a Notarized Affidavit as detailed in the Lawful Presence Verification form
- paying a non-refundable registration fee of $1,000
- attaching a Georgia Criminal Information Center report for the controlling person (if a Georgia resident)
More licensing information can be accessed via the Additional Resources section of this page.
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Additional Resources
Real Estate Appraiser Classification and Regulation Act
Georgia Real Estate Commission and Appraisers Board
Georgia House of Representatives HB 172 - Real estate appraisers; amend provisions
Georgia Real Estate Appraisers Board Appraisal Management Company Registration Application
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