How much does an appraisal management company bond cost in Nebraska?
An appraisal management company bond in Nebraska costs $250 per year and is available to purchase instantly online. You can also save time and money on your renewal when you opt for an extended term on your bond. To get started, click Buy Now and purchase your bond securely online in minutes.
|Bond Type||Bond Amount||Cost|
|$25,000 Appraisal Management Company Bond||$25,000||$250|
Why do Nebraska appraisal management companies need a surety bond?
Appraisal management companies need a $25,000 surety bond as required by the Real Property Appraiser Board to protect customers from fraudulent work that could occur at the hand of appraisers and their companies. By posting this bond, AMCs agree to abide by applicable rules, laws and regulations stated in the Nebraska Revised Statutes. Prohibited acts include, but are not limited to:
- knowingly employing any person who has had their license revoked, suspended or denied in Nebraska
- paying off an appraiser to report a certain fee
- changing any report after it has been submitted without an appraiser’s permission
- failing to keep detailed records for 5 years
If any of these prohibited acts occur, a claim could be made against the bond by harmed parties.
Can appraisal management company bonds be canceled?
Nebraska appraisal management company bonds are continuous until canceled. If the bond is to be canceled, the surety must provide the Nebraska Real Property Appraiser Board with at least 30 days of written notice.
The form indicates that the original signed and sealed bond must be mailed in to the Board upon completion.
How to become an appraisal management company in Nebraska
You must be registered with the state to legally own and operate an appraisal management company. The registration requirements include, but are not limited to:
- $25,000 surety bond
- $350 application fee
- 2 fingerprint submissions per individual
- any other necessary forms as stated in the application (can vary depending on individual)
Once approved, a $2,000 registration fee must be paid by the licensee.
Detailed licensing instructions can be found in the “Additional Resources” section below.
Appraisal Management Company Bonds Nationwide
Many appraisal management companies are licensed to work in multiple states, meaning they are must adhere to different license and bonding requirements. For more information about appraisal management company bonds in other states, visit the SuretyBonds.com Guide to Appraisal Management Company Bonding or select a state from the list below to view each state’s AMC bond requirements.
Or, choose your state from the list below:
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- Washington D.C.
- West Virginia