Ask Henry

Appraisal Management Companies

Dear Henry,

I am a certified residential appraiser, and I, along with a couple other appraisal firms, would like to start up an appraisal management company. Being appraisers, and never having gone down this road before, we are not sure where to begin. Where do we find the information that is necessary to create an appraisal management company in order to meet all of the necessary requirements, and to be legitimate? Do you have any resources pertaining to this?

Thank you for any help you may be able to offer.

Keith VandenAkker

Dear Keith,

Each state has its own requirements for AMCs. You should start by asking someone on the staff of your state's appraisal commission how to proceed. I think you should also hire a lawyer to advise you.