How much does an AMC bond cost in North Carolina?
The North Carolina Appraisal Board requires appraisal management companies to post $25,000 surety bonds as a licensing requirement.
These bonds are subject to underwriting consideration, so the price you’ll pay for your North Carolina surety bond depends directly on a review of your personal credit report. Qualified applicants could pay as low as $250 for their bonds. Request your free bond quote now!
|Bond Type||Bond Amount||Cost by Credit Score*|
|680 and up||679 - 600||599 or lower|
|Appraisal Management Company Bond||$25,000||Starts at $250||$1,000-$2,000||$2,500+||Apply Now|
Let our experts do all of the hard work for you when it comes to purchasing the North Carolina AMC bond you need. Call 1 (800) 308-4358 or click here to get started!
Why do I need this bond?
North Carolina AMC bonds ensure that principals (appraisal management companies) conduct business according to all state and industry laws. By posting the bond, the principal pledges to promptly pay any amount of money due as provided in N.C.G.S. 93E-2-1.
The surety will initially cover any and all damages suffered by harmed parties as a result of the principal’s unlawful business practices up to the full bond amount. The AMC must reimburse the surety for any damages paid out.
What’s the fine print?
Appraisal management company bonds in North Carolina remain in full force and effect until canceled and for as long as the principal remains in compliance with the terms of the surety bond contract.
The surety can cancel the bond by giving 90 days’ written notice of cancellation to both the principal and the North Carolina Appraisal Board.
How to start an appraisal management company in North Carolina
To become licensed as an appraiser in North Carolina, applicants must do the following:
- complete the required courses
- download the application for licensure here
- complete and submit the application
- account for experience hours
- and more
More licensing information can be accessed from the Important Links section of this page.
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