How much does an appraisal management company bond cost in Tennessee?
The Tennessee Real Estate Appraiser Commission requires appraisal management companies working in the state to maintain a $20,000 surety bond.
SuretyBonds.com can issue Tennessee appraisal management company bonds for just $350 for 2 years of coverage! No credit check is required for this bond, so everyone qualifies. Receive a copy of your bond the same business day.
Simply click the Buy Now button below to visit our secure payment portal to purchase your bond online today.
|Bond Type||Bond Amount||Cost|
|$20,000 Appraisal Management Company Bond||$20,000||$350 for 2 years|
Why do I need this bond?
This type of bond requires appraisal management companies to comply with all rules and regulations as outlined in Tennessee Code Annotated 62-39-400. Some requirements include, but are not limited to:
- administering an appraiser panel
- verifying licensing and certificates
- tracking the status of appraisal orders
- negotiating fees and services with the appraiser panel
- maintaining completed appraisals prior to their delivery
- providing completed appraisals to the mortgage lenders who order them
What’s the fine print?
Tennessee appraisal management company surety bonds are required by the Tennessee Real Estate Appraiser Commission. This specific bond is continuous until canceled. A written notice must be given to the Tennessee Real Estate Appraiser Commission 30 days prior to the cancellation date.
These bonds are valid for two years from the effective date.
How to become an AMC in Tennessee
All companies are required to complete a consent to service of process form and designate one controlling person. The controlling person will serve as the main contact for all communication between the company and the Tennessee Real Estate Appraiser Commission.
At the time of application, the company’s owners and the designated controlling person must complete a background check. The full license application can be accessed in the “Important Links” section below.
Ready to get started?
Other Appraisal Management Company Bonds
For more information about appraisal management company bonds, visit the following link: