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How much does a North Carolina appraisal management company bond cost?
The North Carolina appraisal management company bond costs $438 annually. The state requires these AMC bonds to expire annually on June 30th, so your personal premium will vary depending on when you purchase your bond.
How can you get an appraisal management company bond in North Carolina?
You can purchase your North Carolina appraisal management company bond online 24/7. You'll just need to provide your appraisal management company name, address, and phone number for Appraisal Board filing approval. Once your payment has been processed, your official AMC bond will be delivered by email instantly.
How fast can I get an appraisal management company registration bond?
SuretyBonds.com offers instant North Carolina appraisal management company bond delivery. Purchase now to get your official North Carolina appraisers bond delivered in minutes by email.
What is a North Carolina appraisal management company bond?
North Carolina General Statutes Section 93E-2-4(g) requires individuals file a $25,000 surety bond for each real estate appraisal management company applicant registration or renewal registration. The state's official bond form is titled the “Appraisal Management Company Registration Bond $25,000 N.C.G.S. Section 93E-2-4(g)” but is more commonly known as the “appraisal management company bond" or just "AMC bond.” This bond specifically requires AMCs comply with North Carolina statutes and all rules enforced by the North Carolina Appraisal Board and also pay all money due as required by N.C.G.S. Section 93E-2-1.
What is the purpose of the North Carolina appraisal management company bond?
Appraisal management companies must file this bond for real estate business registration before being authorized to work in North Carolina. By filing this bond, you agree to comply with North Carolina statutes and all rules enforced by the North Carolina Appraisal Board and also pay all money due as required by N.C.G.S. Section 93E-2-1. If you fail to do so, your issuing surety company will pay valid claims to harmed individuals up to the full $25,000 bond amount, which you must reimburse.
If you provide real estate appraisal management company services in states other than North Caronia, we also offer appraisal management company bonds nationwide.
Who regulates licensing for appraisal management companies?
The North Carolina Appraisal Board enforces licensing requirements for appraisal management companies in the state, including the $25,000 bond amount requirement. If you have questions about registering your professional appraisal practice entity, you can contact the board by calling 1(919)870-4854 or emailing [email protected].
How is the appraisal management bond filed in North Carolina?
The state's official real estate appraiser surety bond form instructs you to mail your official bond to the state board.
North Carolina Appraisal Board
5830 Six Forks Road
Raleigh, NC 27609
How do I update or change my appraisal management company bond?
If the North Carolina Appraisal Board requires your bond form to be updated for any reason, contact your surety company. If you bought your bond from SuretyBonds.com, email [email protected] to explain the needed change. The most common changes requested are updating your appraisal management company name, address, or phone number to match your real estate appraiser registration paperwork
Does the appraisal management company bond need to be renewed?
You must renew your North Carolina appraisal management company bond before it expires annually on June 30th. Once you pay your SuretyBonds.com renewal invoice, renewal instructions will be sent to keep your bond active for your next license term as required by the North Carolina Appraisers Act.
How do appraisal management companies in North Carolina get licensed?
Review the AMC applicant registration instructions and collect all required documentation before applying for your North Carolina appraisal management company license.
- Complete your Application for Appraisal Management Company Registration.
- Pay the $3,500 nonrefundable application fee payable to the NC Appraisal Board by cashier or certified check.
- Provide a criminal background check for all owners.
- Purchase and file your surety bond in the $25,000 required bond amount.