AMC bond cost
The Georgia Real Estate Appraisers Board requires appraisal management companies to post $20,000 surety bonds in order to operate legally within the state. Surety Bonds issues these bonds instantly for just $200!
Why this bond
By purchasing an AMC bond in Georgia, the principal (appraisal management company) guarantees consumers that its duties will be performed faithfully, honestly and lawfully. Although the applicant does not perform the appraisal, they do work directly with important documents involved in a real estate appraisal, and the bond ensures that all pieces of the report are ordered, tracked, recorded, prepared and delivered accurately and in a timely manner.
If the applicant conducts business unethically, such as wrongfully altering the appraisal report or neglecting to pass on any special instructions from the lender to the appraisers, this bond protects clients from any resulting financial loss up to the full penal sum of the bond.
AMC bond details
Appraisal management company surety bonds in Georgia remain in full effect unless otherwise canceled by the surety or the state. The Georgia Real Estate Appraisers Board reserves the right to terminate this bond at any time by giving written notice of such termination to the surety.
Become an appraisal management company
The process of becoming a registered AMC in Georgia includes, but is not limited to:
- Submitting a completed Appraisal Management Company Registration Application
- Attaching a Secure and Verifiable Document and a Notarized Affidavit as detailed in the Lawful Presence Verification form
- Paying a non-refundable registration fee of $1,000
- Attaching a Georgia Criminal Information Center report for the controlling person (if a Georgia resident)
Apply for your surety bond
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