Alabama Appraisal Management Company Bond Overview
- Purpose: To ensure appraisal management companies follow state regulations
- Who Needs It: All AMCs operating in Alabama
- Regulating Body: The Alabama Real Estate Appraisers Board
- Bond Amount: $25,000
- Premium Price: $250 for a one-year term
What Is an Alabama Appraisal Management Company Bond?
An Alabama appraisal management company (AMC) bond protects home buyers and sellers from harmful business practices.
The Alabama Real Estate Appraisers Board (REAB) requires a $25,000 surety bond for all AMCs operating in the state.
How Much Do AMC Bonds Cost in Alabama?
Alabama real estate appraisal management company bonds cost just $250 annually. Or, you can select a multi-year term at checkout to save 25%.
Click below to buy your bond in minutes — no credit check required!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does an Alabama Appraisal Management Company Bond Work?
An Alabama real estate AMC bond is a legal contract between three parties.
| Bond Party | Description |
|---|---|
| Principal | The appraisal management company filing the bond |
| Obligee | The Alabama Real Estate Appraisers Board requiring the bond |
| Surety | The issuing surety provider |
This bond is your financial guarantee to the REAB that you’ll comply with Alabama Code § 34-27A, Art. 2. The following practices are prohibited:
- Influencing an appraiser’s valuation through pressure or bribery
- Withholding payment
- Offering future business in exchange for a specific valuation
- Asking for estimated values before the appraisal is completed
- Altering or modifying an appraiser’s report
If you commit any of these acts, harmed parties can file claims against your bond to recover financial losses. The surety will pay valid claims up to the full bond amount, but you ultimately must refund the surety.
How Do I Get an Appraisal Management Company Bond in Alabama?
With SuretyBonds.com, you can purchase your Alabama AMC bond online 24/7. Simply enter your information into the form on this page. Once you checkout, you’ll receive your official bond form in just minutes by email.
Can I Get Bonded With Bad Credit?
Yes, this bond doesn’t require a credit check! Anyone can purchase this bond at the same flat rate, regardless of credit score.
How Do I Renew My AMC Bond?
Alabama AMC bonds expire annually. You must renew your bond to maintain your state license.
If you purchased your bond from us, we’ll send you reminders and a renewal invoice starting 90 days before expiration. Simply pay the premium to extend your bond term.
How Do I Update My Bond Information?
You can typically make minor changes to your bond form, such as name or address, by contacting your surety company. Current customers can email [email protected] with the updated information.
How to Register an Appraisal Management Company in Alabama
All appraisal management companies in Alabama must register with the Real Estate Appraisers Board. Follow these steps to start an AMC:
- Register your business with the state.
- Purchase a $25,000 surety bond.
- Complete the license application either online or on paper.
- Pay the $3,500 fee plus the ASC National Registry Fee.
You’ll need to indicate the AMC license type on your application:
- Single State: Under 15 appraisers
- Multi-State: Over 25 appraisers in two or more states
- Neither: Cannot be added to the National Registry
Alabama AMC licenses expire annually on the issue date. To renew, complete the renewal form and pay the $2,000 fee and the ASC National Registry Fee. Lapsed registrations can be reinstated within six months.
What If My AMC Is Federally Regulated?
A federally regulated AMC is any AMC owned by a bank and supervised by a federal financial regulatory agency.
In Alabama, federally regulated AMCs must still register with the state and pay a $1,500 fee, plus the ASC National Registry Fee. However, you typically don’t need a surety bond, since you’re backed by an insured financial institution.
What Is the ASC National Registry?
The Appraisal Subcommittee (ASC) National Registry is a database of AMCs authorized to handle appraisals for federally related real estate deals. This shows lenders and consumers that your AMC holds a valid registration and is eligible to perform federal work.
