Appraisal management companies operating in Georgia are regulated and licensed by the Georgia Real Estate Commission & Appraisers Board.
This board also requires appraisal management companies to furnish a surety bond of at least $20,000 as a condition for licensing.
AmeriPro Surety Bonds offers the appraisal management company bond as a new or renewal surety bond for as little as 1% of the amount required.
The purpose of this surety bond requirement is simple enough:
The bond is a financial guarantee that you will comply with all laws and statutes in the conduct of your appraiser management business , particularly O.C.G.A. Chapter 43-39A Rules and Regulations Chapter 539.
This surety bond protects the people of the state of Georgia, and the Board, against any acts of fraud, theft, malfeasance or misfeasance that a appraiser management company may commit in the course of their professional duties.
As such, the purpose of this surety bond is for the protection of others; it is not an insurance policy which protects your appraiser management company.
Rather, it protects others against wrong committed by an appraisal company.
UPDATE June 2019: Our agency now offers the $20,000 surety bond for just $200, annually, and with no credit inquiry. This amount may also be prepaid for 2 or 3 years, offering you a savings over year to year renewal of the bond. What is below will apply to bonds greater than the $20,000 threshold...
The premium for the Georgia appraisal management company surety bond will be a reflection of the amount required.
While the amount required is at least a $20,000 surety bond, presumably the amount may therefore be greater. The Board will be the one to inform you of the surety amount you are required to purchase.
Our agency will work to find you the best surety bond pricing. That having been stated, the bond’s premium is a reflection of:
Typically, those with good credit will pay about 1% and there is a sliding scale thereafter.
Again, we stress that our agency will work to find you the best surety bond pricing.
Besides meeting the surety bond requirement, Georgia appraisal management company applicants must:
AmeriPro Surety Bonds is a surety bonds only agency which provides license and permit, contractor, and court surety bonds throughout Georgia.
Our goal is to be your professional source for all of your surety bond needs.
Please call our agency today at:
Or, if you prefer, you may fill out our contact form and an agent will contact you...