How much does a Pennsylvania appraisal management company bond cost?
The Pennsylvania appraisal management company bond costs $400 annually. You can save money by choosing our multi-year discount to extend your AMC bond term during checkout!
How do I get an appraisal management company bond in Pennsylvania?
You can purchase your Pennsylvania appraisal management company bond online 24/7. Simply select your preferred term and provide your AMC name and address for Department of State filing approval. Once your payment has been processed, your official Pennsylvania appraisal services bond will be delivered to your email instantly.
How fast can I get a licensed appraisal management company bond?
SuretyBonds.com offers instant Pennsylvania licensed appraisal management company bond delivery 24/7. Purchase now to receive your official AMC bond in minutes by email.
What is the Pennsylvania appraisal management company bond?
Pennsylvania Code Section 36.452 requires individuals file a $40,000 surety bond to register as an appraisal management company. The state's official form is just titled “BOND” but is more commonly known as the “appraisal management company bond” or “AMC bond.” This bond is specifically used to protect individuals from a professional appraisal practice that violates the Pennsylvania Appraisal Management Company Registration Act or other Pennsylvania Code regarding service nonperformance or fee nonpayment.
Why do appraisal management companies need to be bonded?
Appraisal management companies need to be bonded for Pennsylvania state business registration. By filing this bond, a professional appraisal practice registrant agrees to fully and faithfully observe all Pennsylvania laws as well as rules and regulations enforced by the State Board of Certified Real Estate Appraisers. If they fail to do so, their issuing surety company will pay valid claims to harmed individuals up to the full $40,000 bond amount, which the AMC must reimburse.
If you provide appraisal management company services in states other than Pennsylvania, we also offer appraisal management company bonds nationwide.
Who regulates licensing for appraisal management companies?
The Pennsylvania Department of State Board of Certified Real Estate Appraisers enforces licensing requirements for appraisal management companies, including the $40,000 bond amount requirement. If you have questions about your current AMC entity license or new applicant registration, you can contact the state board by emailing [email protected] or calling 1(717)783-4866.
How do I update or change my appraisal management company bond form?
If the Board of Certified Real Estate Appraisers 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 AMC name or address to match your current registrant license or new applicant paperwork.
How do I renew my Pennsylvania appraisal management company bond?
You must renew your Pennsylvania appraisal management company bond before its current term expires. 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 state law.
How do I become a licensed appraisal management company in Tennessee?
You must provide the following to apply for your Tennessee appraisal management company license.
- Tennesee Appraisal Management Company Registration Application
- $2,000 application fee
- $40,0000 surety bond
- background checks for any owner, compliance person, and key person
- authorization to transact business in Pennsylvania
- copies of convictions, if applicable
Mail your application and all required documents to the Pennsylvania Department of State.
State Board of Certified Real Estate Appraisers
P.O. Box 2649
Harrisburg, PA 17105-2649
