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Illinois Appraisal Management Company Bond

How much does an appraisal management bond cost in Illinois?

The state of Illinois mandates that any person or company who appraises real estate must post a $25,000 surety bond. Appraisal management company surety bonds are issued for $437.50 for 99% of all applicants. Apply online today to get started!

Bond Type Bond Amount Cost*
$25,000 Appraisal Management Company Bond 2-year term $25,000 $437.50 Apply Now
*The bond premium rate quotes provided to you through this website are for pricing comparisons and quotation estimate purposes only. The bond rate quotes provided are based on general assumptions that may or may not be applicable to you and are subject to change at any time. These rate quotes do not constitute an offer of insurance, nor is any contract, agreement, or bond coverage implied, formed or bound by the provision of rate quotes. Bondability, final bond premium rate quotes and an offer of insurance, if any, will be determined by the insurance company providing your bond. You must contact us directly to obtain a quote for binding purposes.

If you’re ready to get bonded, call SuretyBonds.com at 1 (800) 308-4358 or fill out our online bond request form. You can purchase an Illinois appraisal management company bond for just $250. 5 minutes is all it takes to get bonded when you choose SuretyBonds.com!

Why do I need this bond?

The Illinois Appraisal Management Company Registration Act requires that real estate appraisers purchase a $25,000 surety bond. This bond ensures that the principal (appraisal management company) abides by all the rules and regulations in the aforementioned act. Illinois appraisal management company bonds also hold the principal responsible for paying all taxes and applicable fees to the Illinois Department of Financial and Professional Regulation. If the principal fails to make the proper payments to the state within 60 days of the due date, a claim can be made against the bond. The surety will initially pay for any damages, but the principal is ultimately required to reimburse the surety.

Give us a call at 1 (800) 308-4358 or submit a bond request to get an Illinois appraisal management company surety bond for just $250! It only takes 5 minutes to get approved.

What’s the fine print?

Appraisal management company bonds in Illinois must be renewed every two years, as they expire on December 31 of even years. The surety company must provide written notice of the bond’s cancellation to the Commission at least 10 days prior to cancellation.

Ready to get started?

Buy Your Appraisal Management Company Bond Now!

Additional Resources

The Illinois Appraisal Management Company Registration Act

Illinois Department of Financial and Professional Regulation

State of Illinois Appraisal Management Companies Surety Bond Form

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