Residential Real Estate Property Preservation Services Provider (Continuous)
This bond is required for businesses in Maine that maintain and preserve residential properties, typically homes in foreclosure or owned by banks. The $15,000 bond protects homeowners and the state by guaranteeing these companies will follow Maine's consumer protection laws when caring for properties. If a preservatio…
Overview
What it is.
This bond is required for businesses in Maine that maintain and preserve residential properties, typically homes in foreclosure or owned by banks. The $15,000 bond protects homeowners and the state by guaranteeing these companies will follow Maine's consumer protection laws when caring for properties. If a preservatio…
Who usually needs it
Residential Real Estate Property Preservation (RPP) Services Providers operating in Maine who are license applicants or renewal holders must obtain this bond. This applies to businesses or individuals providing RPP services such as property inspections, maintenance, securing vacant properties, inventorying contents, and reporting to lenders/servicers on for…
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateMEBond amount$15,000ObligeeState of Maine - Bureau of Consumer ProtectionBond classLicense BondCategoryOtherBondResidential Real Estate Property Preservation Services Provider (Continuous)Plain descriptionThis bond is required for businesses in Maine that maintain and preserve residential properties, typically homes in foreclosure or owned by banks. The $15,000 bond protects homeowners and the state by guaranteeing these…Who needs this bondResidential Real Estate Property Preservation (RPP) Services Providers operating in Maine who are license applicants or renewal holders must obtain this bond. This applies to businesses or individuals providing RPP serv…
