California Blanket Surety Bond
AmeriPro Surety Bonds | 844-589-9732
California Department of Real Estate (DRE); Blanket Subsidy Bond
A blanket surety bond, is referred to by the California Department of Real Estate as form RE 600A.
The California Real Estate Commissioner will require this bond of you to protect the purchasers of lots, parcels, units, and other interests in a property. This is required so that you are not obligated to hold funds in escrow.
Essentially, what your blanket surety bond will do is to protect the financial interests of purchasers, while at the same time allowing you not to have to maintain the funds in an escrow account.
Qualifying and the Premium
Qualifying for the California blanket surety bond will include completion of an application — which we’ll take from you over the phone — and undergoing a credit inquiry. Depending on the bond’s amounts, applicants may also be asked to provide a financial statement, tax returns, or bank statements which prove solvency.
To be approved, a good credit profile is crucial; and the standard rate is 1 ½% of your bond’s amount.
When you call us, we’ll ask you the following:
- Your company name and address, exactly as it should appear on your surety bond. Importantly, we’ll also need to know how long you’ve been in business. If your business structure is an LLC, we’ll need the papers that you’ve filed for those as well;
- We’ll also need the name address, and social security numbers of any Principals of the company;
- We’ll also ask about each principal whether or not they own real estate.
After careful review by an underwriter (which may include requests for additional documentation, so please have it ready), approval and payment of your bond, our agency issues it to you immediately.
Upon receipt, you’ll sign your bond as Principal and file it to:
California Department of Real Estate
P.O. Box 137005
Sacramento, CA 95813-7005
You may wish to verify the address to mail your bond to by first calling: 877-373-4542.
Surety Bond Term
Your California blanket surety bond is issued for a one year. Your bond and the premium will renew annually for as long as required by the state of California.
AmeriPro Surety Bonds is a surety bonds-only agency which provides CA DRE surety bonds required. We are also a provider of license and permit, court, probate, and other surety bonds in California and all 50 states.
Please call our agency today at:
Or, you may fill out the form below and a Surety Agent will contact you…