Alabama Real Estate School Bond |
AmeriPro Surety Bonds | 844-589-9732
Real Estate Schools – Alabama
The Alabama Real Estate Commission is the state government body charged with the licensing and regulation of real estate schools.
By “real estate school” is meant any of the following:
- Schools which offer pre-licensing courses;
- schools which offer post licensing courses;
- schools which offer continuing education courses.
All such real estate schools are required to furnish the Commission evidence of filing a $20,000 surety bond. Obtaining the surety bond is quick, easy, and takes a few minutes.
Qualifying and the Premium Amount
Qualifying for the Alabama real estate school bond couldn’t be easier. After completion of a surety bond application (which we can complete with you over the phone), and payment of the $200 annual premium (1%), this bond is issued to you immediately.
There is no underwriter review nor a credit check inquiry for this bond; it is issued upon payment of the premium.
Once the bond has been issued, a copy can be emailed to you for no additional charge. The original will be sent in the mail the same or by the following business day at the latest.
Ideally, it is the original bond — which you will also need to sign as Principal — that should be filed with the Real Estate Commission.
Premium Prepayment Options
The $200 premium is for a one year term. An active surety bond must always be on file with the Commission.
We offer the option to prepay your bond for 2 or 3 years. Prepayment offers you two advantages: The first is that the renewal of the premium is less frequent. The second is that prepayment offers you a savings over year to year renewal of your bond premium.
The premium prepayment options are as follows:
- Prepayment of the premium for 2 years is $360, a $40 savings;
- Prepayment of the premium for 3 years is $520, an $80 savings.
Purpose of this Surety Bond
The purpose of this surety bond is to serve as a financial guarantee that you will fulfill all obligations to students in accordance with Alabama Code § 34-27-6, and any future amendments or additions to the law.
As the Principal for this surety bond, you are responsible to indemnify the surety for any claims paid against your bond; however, the total sum of any claims will not exceed the aggregate amount of the surety bond’s amount.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, and notary surety bonds throughout Alabama.
Our agency also provides surety bonds nationwide.
Please call AmeriPro Surety Bonds today at:
Or, you may fill out the form below and an agent will contact you…