Washington AMC Bond Overview
- Purpose: To protect real estate appraisal clients, lenders and the state from harm
- Who Needs It: All companies overseeing a real estate appraisal panel in WA
- Regulating Body: The Washington State Department of Licensing (DOL)
- Bond Amount: $100,000
- Minimum Price: $1,000
What Is a Washington Appraisal Management Company Bond?
A Washington appraisal management company (AMC) bond is a type of surety bond required for residential real estate AMCs to operate legally.
The surety bond is a form of financial security that protects the state, mortgage lenders and the public from financial harm.
Who Needs an AMC Bond?
In Washington state, any company overseeing an appraiser panel and providing appraisal services of property or goods for a fee must be licensed and bonded.
This may include entities such as mortgage technology providers, closing service providers, loan processors, and more.
How Much Do Appraisal Management Company Bonds Cost in Washington?
The $100,000 Washington AMC bond costs a small percentage of the total bond amount — typically 1–10%. Rates start at $1,000 for applicants with a strong personal credit score and financials.
Apply now to get your free, personalized quote.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does a Washington Appraisal Management Company Bond Work?
An appraisal management company bond creates a financial guarantee that you will perform honest and legal appraisals. There are three parties included in the bond contract.
| Bond Party | Description |
|---|---|
| 1) Principal | The AMC owner filing the bond |
| 2) Obligee | The Washington State Department of Licensing, Real Estate AMC Program |
| 3) Surety | The issuing surety provider |
By filing this bond, you promise to comply with all provisions of Revised Code of Washington Chapter 18.310 and with all regulations adopted by the Department of Licensing. Some prohibited acts under this bond include:
- Failing to pay appraisers within 45 days of an appraisal
- Coercing an appraiser to give a certain appraisal amount
- Withholding or threatening to withhold payment
- Expressing or promising future business
- Altering an appraisal report
- Prohibiting communication between the lender, the real estate licensee, the property owner, and any other third party
If the principal fails to comply with these terms, the bond protects harmed parties from financial loss.
How Do I Get an AMC Bond in Washington?
To get your Washington state AMC bond, submit a quick online application form. We’ll provide your personalized quote within one business day or less.
Once you receive your quote invoice, you can complete the bond purchase online 24/7 and receive it via email. If you don’t see it right away, please check your junk folder.
How Do I File My Bond?
If you’re applying for a new AMC license, submit the surety bond along with your license application. This is typically done online, but there are also mail-in options. See more details in the licensing section below.
Can I Get Bonded With Bad Credit?
While poor personal credit can impact your bond rate, we may be able to match you with a surety market even with bad credit. Apply today to see if you qualify.
How Do I Renew My Bond?
Washington state AMC bonds expire after one year. However, you can renew them for additional years. We’ll provide renewal reminders before your bond expires.
Pay your renewal invoice and file the continuation certificate with the DOL as proof of continued coverage.
If your surety provider changes, you’ll need to file a new bond form.
How to Get an AMC License in Washington
The Washington State Department of Licensing oversees appraisal management company registration. To apply for your AMC license in Washington, complete these steps:
- Get a business license with Business License Services
- Buy a $100,000 surety bond
- Designate a control person
- Submit electronic fingerprints through for the controlling person and each 10% or greater owner
- Submit the online application with all the supporting forms and pay fees
Allow at least two weeks for the department to review your application and determine eligibility. If you need help with the licensing process, email [email protected].
