Appraisal Management Company License Application
License allows individuals or businesses to provide appraisal management services in New York State (NYS).Overview
License allows an individual or business to provide appraisal management services in NYS. An appraisal management company must consist of at least sixteen appraisers in New York State or at least twenty five appraisers over multiple states, including New York, within a given year.
Requirements
- Federally regulated AMC’s are excluded from the registration requirement but required to report to the Department all panel members of the appraisal management company performing covered transactions as independent contractors
- Panel size of at least sixteen appraisers working only in New York State or twenty five or more appraisers working in two or more states, including New York State within a given year
- All owners/controlling persons must be identified on this application
- Business must name a designated controlling person who shall be the main contact for all communication between the Department and the appraisal management company
- All NYS panel members of the appraisal management company performing covered transactions as independent contractors must be currently licensed or certified by the Department of State and listed on this application
- Report AMC panel members to satisfy the ASC National Registry reporting requirements
How to Apply
- First time licensees may apply online
- Sign in or create a NY.gov account
WHAT YOU NEED TO APPLY:
- Federal Employer (FEIN) or Social Security Number (for individuals)
- Business information
- Designated controlling person information
- UID# for any previously issued or applied for appraisal management company license(s)
- Additional owner information (if applicable)
- Appraiser panel name, NYS appraiser license number and license expiration date
Required Fees
| TYPE | REFUNDABLE | AMOUNT | COMMENTS |
|---|---|---|---|
| License (Not Federally Regulated) | No | $250.00 | Fee is for license processing |
| License (Federally Regulated) | No | $0.00 | License (Federally Regulated) |
| Panel Appraiser Fee | No | $25.00/Appraiser | Fee applied to each appraiser listed; no fee if federally regulated |
| National Registry Fee | No | $25.00/Appraiser | Fee per appraiser who performed an appraisal in New York within the 12-month reporting period |
| Late Renewal Fee | No | $100.00 | Fee for late renewals |
| Amendment Fee | No | $10.00 | Fee for Business Name or Address Change |
| Amendment | $0.00 | Person Name/Residence Address Change of Controlling Person | |
| Amendment | $0.00 | Contact Change: Business Contact Email Address, Business Phone Number |
Charge Card (Visa or MasterCard accepted only)
Duration & Processing
| Average Processing Time: | 3-5 business days |
|---|---|
| Term/Duration: | Biennial - License is two years |
| Renewable: | Yes - Renewable every two years |
| Automatically Sent: | Renewal Reminder notice, annual reporting period reminder |
Additional Info
This application requires an annual roster of appraiser panel members.For additional information/Sponsor Agency:
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