Appraisal management company bond cost
The Tennessee Real Estate Appraiser Commission requires appraisal management companies working in the state to maintain a $20,000 surety bond.
We 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.
Why 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
Appraisal management company bond details
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.
Become an AMC
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.
Apply for your surety bond
Get a FREE Tennessee Appraisal Management Company Bond Quote Today! Click here to begin