The Utah Appraisal Management Bond is required by the Division of Real Estate, of the Department of Commerce. The bond amount is set at $25,000. The surety bond guarantees the Division that the bondholder will comply with all of the provisions of state laws. In addition to the rules required under the Act and all such provisions as may be imposed upon the bondholder by law or rule. The bond also ensures that the bondholder will refrain from injuring or damaging any person by reason of any act in violation of the Act or the Rules.
Who needs a Utah Appraisal Management Bond?
Any individual who prepares, for valuable consideration, an appraisal, appraisal report, certified appraisal report, or consultation services must be licensed. The Appraisal Management bond is one of the licensing requirements.
What are other licensing requirements?
- Completed application form
- Certificate of Existence from the Utah Division of Corporations
- Letter of Waiver for main control and all control persons
- Two fingerprint cards for the main control and all control persons
- Payment of $350 for the application fee
How do I obtain a Utah Appraisal Management Bond?
Surety1 has access to the best surety markets available so we will be able to get you bonded quickly at the best possible price.
First, start the process by completing our easy to navigate, free online application form. Then, after your application has been submitted, one of our surety agents will contact you with a no-obligation quote on the bond premium. After that, once you are ready to move forward, you just need to pay the premium and sign the agreement. Lastly, your Utah Appraisal Management bond will be mailed to you by USPS Priority Mail. Overnight delivery is also available for an additional fee.
Surety1 has been in the business since 2003. We are licensed in all 50 states and our services have earned an A+ rating from the Better Business Bureau.