Arizona's Department of Financial Institutions licenses, supervises, and regulates state-chartered financial institutions and enterprises. Among the Department's responsibilities is handling the registration of the state's Appraisal Management Companies.
An appraisal management company administers independent contract appraisers to perform real property appraisal services in the state for clients. They also serve as a third-party liaison of appraisal management services between clients and appraisers.
The Department requires Appraisal Management Companies in Arizona to obtain a $20,000 surety bond.
Appraisal management companies in Arizona must meet the following registration requirements from the Department:
A $20,000 surety bond ensures that a registered Appraisal Management Company pays:
The surety bond must be maintained for at least one year after the Appraisal Management Company's registration ends, either by expiring, revoking, being surrendered, or by any other means.
If a registered Appraisal Management Company operates in Arizona under more than one name other than a DBA, then a separate $20,000 bond is required for each name.
The premium you pay for an Arizona Appraisal Management Company starts at $200 with good credit. Contact our Surety Bond Specialists to get started at 844-432-6637.
The Arizona Department of Financial Institutions uses an E-Licensing System, and no longer accepts paper applications.
Check out our FAQ page or What’s a Surety Bond? page. Should you need or choose to buy a surety bond, call us first. SuretyGroup.com has been underwriting surety bonds throughout the U.S. for more than 35 years. When you work with us, you enjoy the unique benefit of dealing with a team of highly experienced surety agents with in-house underwriting authority. This allows you to receive competitive, low rates, quick approvals, and immediate bond delivery. In most cases, your bond will be delivered within 24 hours after you apply for it.
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