Tennessee AMC Bond Overview
- Purpose: To protect real estate buyers and sellers from financial harm
- Who Needs It: All AMCs overseeing panels of 15+ appraisers in Tennessee
- Regulating Body: The TN Department of Commerce & Insurance, Real Estate Appraiser Commission
- Bond Amount: $20,000
- Premium Price: $200 for a 1-year term
What Is a Tennessee Appraisal Management Company Bond?
A Tennessee appraisal management company (AMC) bond is a type of surety bond required for residential real estate AMCs to operate legally.
Under the Tennessee Appraisal Management Company Registration and Regulation Act, all real estate appraisal companies need $20,000 bond coverage. This protects the state and the public from financial harm.
Who Needs an AMC Bond?
Any individual or business that performs direct or indirect appraisal management services using an appraisal panel needs this $20,000 bond. The Real Estate Appraiser Commission (REAC) uses the bond to ensure financial security.
How Much Do AMC Bonds Cost in Tennessee?
The Tennessee appraisal management company bond costs $200 for a 1-year term. Or you can save 25% and get a 3-year term for $500. Buy online today.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does a Tennessee AMC Bond Work?
An appraisal management company bond creates a financial guarantee that you will perform honest and legal appraisals. As the bond principal, you enter a three-party contract with the obligee and the surety.
| Bond Party | Description |
|---|---|
| 1) Principal | The real estate AMC owner filing the bond |
| 2) Obligee | The Tennessee Department of Commerce & Insurance, Real Estate Appraiser Commission |
| 3) Surety | The surety provider issuing the bond |
By signing the bond form, you promise to:
- Follow state laws
- Pay applicable fees
- Protect clients, lenders and appraisers from financial harm
If you break these regulations, the state or harmed consumers can file claims for reimbursement. The surety pays valid claims then collects repayment from you, the principal.
How Do I Get a Tennessee AMC Bond?
You can get your Tennessee AMC bond instantly online. Enter your information and complete the online purchase. We’ll email you the official bond form within 5–10 minutes.
How Do I File My Bond?
Once you receive your bond, make sure to include it with your initial license application packet or submit to the REAC as instructed.
Can I Get Bonded With Bad Credit?
Yes, there is no credit check requirement for this bond!
How Do I Renew My Bond?
You’ll need to renew your bond every one to three years, depending on the initial bond term you select. Our team will send email and text reminders when your bond is up for renewal.
All you need to do is pay the renewal invoice. This will extend your original bond for another term as long as there are no claims.
How to Get an Appraisal Management Company License in Tennessee
You’ll need to gather the following materials to apply for your AMC license from the Real Estate Appraiser Commission:
- A photo ID copy for the controlling person and any owners
- A $20,000 surety bond
- IdentoGO receipt for background check submission for the controlling person and owners
- Appointment of Agent for Service of Process
- Irrevocable Consent to Service of Process
- Declaration of Owner(s) and Controlling Person
Then you’ll submit the application and pay the $2,000 registration online through the CORE portal.
