How much does an appraisal management company surety bond cost in Wyoming?
The Wyoming Certified Real Estate Appraiser Board requires appraisal management companies to post $25,000 surety bonds. These bonds are typically issued instantly and cost as little as $250.
|Bond Type||Bond Amount||Cost|
|$25,000 Appraisal Management Company Bond||$25,000||$250|
Why do I need this bond?
Wyoming appraisal management company bonds protect the state and any person who suffers harm if the principal (AMC) violates any terms of the Wyoming Appraisal Management Company Registration and Regulation Act. The bond covers damages up to the full bond amount, and the principal must reimburse the surety for all damages paid out.
What’s the fine print?
Wyoming AMC bonds are continuous until canceled. The surety can cancel the bond by providing written notice of cancellation along with the reason for termination to the Wyoming Certified Real Estate Appraiser Board 30 days prior to the effective date of cancellation.
How to become an AMC in Wyoming
Applicants who wish to be licensed as an appraisal management company in Wyoming must submit the following fees, documents and information in a complete registration application packet:
- $1,800 registration fee
- fingerprint cards for any person with 10% or more interest in the business
- current person for designated contact
- proof of Good Standing from state
- surety bond
Ready to get started?