The New Mexico Appraisal Management Bond is required by the NM Real Estate Appraisers Board in the amount of $25,000. The bond states that the bondholder shall comply with the provisions of the Appraisal Management Company Registration Act. Including all regulations enacted subject to the Act.
What is An Appraisal Management Company and what do they do?
- They are any external third party that oversees a network of certified licensed appraisers.
- First, they recruit, select and retain appraisers.
- Second, they contract with appraisers to perform appraisal assignments.
- Third, they manage the process of having an appraisal performed.
- Fourth, they review and verify the work of appraisers.
What are some of the licensing requirements?
- Notarized Application
- $1,000 application fee
- Background check form
- Service of process Form
- EIC Proof of 15/7 Hour USPAP
- Identify EIC, CP, and Owner
- NM State Tax Id #
- Federal Tax ID #
- Letters of engagement
- Surety bond amounting to $25,000
Why should I choose Surety1 for my bond needs?
With Surety1, you not only get the New Mexico Appraisal Management Bond at the best rate possible, you also get it FAST. We are proud to say that through our partnership with many A-rated surety companies, we are able to offer the lowest rates in the market today.
The first step is to complete our easy to navigate, free online application form. After that, you will be contacted by one of our licensed agents with a no-obligation quote on the bond premium. Finally, when you’re ready to proceed, pay the premium, sign the agreement and we will send you the bond right away.
Surety1 has been issuing surety bonds in the State of New Mexico since 2003. We continue to be rated A+ by the Better Business Bureau for our outstanding service.
Call us toll free at 877-654-2327. We have live surety bond agents available Monday – Friday, 8:00 – 4:30 PST. We’re glad to help.