How much does an AMC bond cost in Utah?
The Utah Division of Real Estate requires appraisal management companies to post $25,000 surety bonds. These bonds are subject to underwriting consideration, so the price you’ll pay is based on a review of your personal credit report. Applicants with strong financial credentials could qualify to pay as low as 1% of the total bond amount, or just $250!
Bad credit? No problem! The experts at SuretyBonds.com can help you get the bond you need quickly, easily and accurately. Get started 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|
If you’re ready to get bonded, call SuretyBonds.com at 1 (800) 308-4358 or submit a bond request. One of our bond experts will personally walk you through our clear-cut bonding process step-by-step.
Why do I need this bond?
Utah AMC surety bonds ensure that principals (appraisal management companies) adhere to the standards of the Utah Administrative Code, the Appraisal Management Company Administrative Rules and the Division of Real Estate. This particular bond allows for claims to be made against the bond in the event of financial losses resulting from the principal’s professional behavior. If a valid claim is made against the bond, the surety will compensate the injured parties for damages up to the full bond amount. The AMC, in turn, must reimburse the surety for any damages paid out.
Receive a free, personalized quote on a Utah AMC bond within 1 business day of applying when you work with SuretyBonds.com!
What’s the fine print?
Appraisal management bonds are continuously effective until canceled and must be maintained as long as the principal conducts appraisal management business services. The surety must give the Division of Real Estate at least 30 days of notice prior to any cancellation.
How to become an AMC in Utah
To register as an AMC in Utah, applicants must complete the proper application, including the following information:
- full legal name of business entity
- business address along with email and phone number
- registered agent name
- certificate of existence from the Utah Division of Corporations
- applicable fees
- application for main controlling person
- two fingerprint cards with $40 fingerprint processing fee
- letter of waiver
- criminal history of all officers
- and more
Complete registration information can be accessed from the Additional Resources section of this page.
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