Application for Registration of an Appraisal Management Company (AMC) - Mississippi

Application for Registration of an Appraisal Management Company (AMC) is a legal document that was released by the Mississippi Real Estate Commission - a government authority operating within Mississippi.

FAQ

Q: What is an Appraisal Management Company (AMC)?A: An AMC is a company that coordinates appraisal services for real estate transactions.

Q: Why do I need to register my AMC in Mississippi?A: Registration is required by law in Mississippi for any company that engages in the business of appraisal management.

Q: How do I apply for registration of my AMC?A: You can apply by submitting the required application form, supporting documents, and fees to the Mississippi Real Estate Commission.

Q: What documents are required for the registration application?A: You will need to provide various documents, such as a certificate of good standing, proof of errors and omissions insurance, and a surety bond.

Q: How much is the registration fee?A: The fee for initial registration and renewal of an AMC is $2,500.

Q: Is there a deadline for registration?A: No, there is no specific deadline for registration, but your AMC must be registered before conducting any appraisal management activities in Mississippi.

Q: Can an individual appraiser apply for registration as an AMC?A: No, only companies can apply for registration as an AMC.

Q: What are the consequences of operating an unregistered AMC in Mississippi?A: Operating an unregistered AMC is a violation of state law and may result in penalties or sanctions.

Q: How long is the registration valid for?A: The registration of an AMC in Mississippi is valid for one year and must be renewed annually.