New Mexico Manufactured Homes Dealer Bond Guide
If you’re applying for a manufactured home dealer license in New Mexico, you’ll need this surety bond.
Bond Overview
- Purpose: To protect mobile home buyers and the state from financial harm
- Who Needs It: Licensed manufactured housing dealers
- Regulating Body: The New Mexico Regulation and Licensing Department, Manufactured Housing Division
- Required Coverage: $50,000
- Premium Rate: Typically $500–$1,000, credit-based
Learn all about the bond requirements and process in this guide.
What Is a New Mexico Manufactured Homes Dealer Bond?
A New Mexico manufactured home dealer license bond holds retailers accountable for operating legally and responsibly according to state laws. These bonds protect consumers from theft and fraudulent sales practices.
The Manufactured Housing Division requires this bond as part of the licensing process for all manufactured home dealers in the state.
How Much Do Manufactured Homes Dealer Bonds Cost in New Mexico
$50,000 New Mexico manufactured home dealer license bonds typically cost $500–$1,000. Exact rates vary based on personal credit score. Apply for your free quote now!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Do I Get My Bond?
SuretyBonds.com provides the fastest and easiest way to get a New Mexico manufactured home dealer license bond. Just follow these quick steps:
- Apply: Submit an online quote request form
- Quote: Receive your quote within one day
- Sign: Complete the indemnity agreement
- Buy: Purchase the bond online 24/7
We’ll email you the bond shortly after purchase. Be sure to file the bond with the Manufactured Housing Division as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a New Mexico Manufactured Homes Dealer Bond Work?
As with all surety bonds, a manufactured home dealer license bond creates a legal contract between three parties:
- Principal: You, the manufactured home dealers filing the bond
- Obligee: The New Mexico Regulation and Licensing Department, Manufactured Housing Division requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding the provisions of the New Mexico Manufactured Housing Act.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you are ultimately responsible for refunding the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your manufactured home dealer license bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.
