Virginia settlement agent bonds.
$2,000 flat.
Virginia's Consumer Real Estate Settlement Protection Act (CRESPA) requires every real estate settlement agent to maintain a $200,000 surety bond. Ours is $2,000 flat — the price you see is the checkout price, identical for every agent. A quick soft credit check may apply; the bond is issued when you pay.
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How much does a Virginia settlement agent bond cost?
$2,000 at the $200,000 amount, the same for every applicant.
Three steps to registered.
Your CRESPA registration is waiting on this bond. Here is the entire process — no broker phone tag:
Apply once, online
Business details, owner information, effective date. The only extra step is a one-time consent to a soft credit pull.
Approved
Most are approved as soon as you apply. One soft credit pull, never a hard inquiry, and it never affects your score. If it needs a second look, one to two business days at most.
E-sign & register with the Bureau of Insurance
Pay online and receive the executed $200,000 bond, ready to file with your CRESPA settlement-agent registration. Wet-ink originals mailed whenever the state insists.
What it is and who needs it.
What the settlement agent bond guarantees
Virginia's Consumer Real Estate Settlement Protection Act (CRESPA) governs who may handle residential real estate closings and conditions a settlement agent's registration on a $200,000 surety bond. The bond is a consumer-protection guarantee: it stands behind your proper handling of settlement and escrow funds.
It is a three-party arrangement: you (the principal), the surety carrier, and the Commonwealth (the obligee), with the parties to your closings as the protected beneficiaries. If a settlement agent mishandles closing funds, fails to record, or otherwise violates CRESPA, a harmed party can recover against the bond.
Settlement agents register with the State Corporation Commission's Bureau of Insurance, and the bond is one piece of the financial-responsibility package CRESPA requires (alongside errors-and-omissions and fidelity coverage). It is not insurance for you — if the surety pays a claim, you repay the surety.
You need this bond if you're
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the $200,000 bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose; a longer term is the same price per year, chosen at checkout.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
E-sign & register with the Bureau of Insurance. Pay online and receive the executed $200,000 bond, ready to file with your CRESPA settlement-agent registration. Wet-ink originals mailed whenever the state insists.
What sets the price
The premium is fixed at $2,000 at the $200,000 amount for every applicant: the carrier’s rate book prices this bond by the form, not by your credit or your business profile.
One soft credit pull, never a hard inquiry, and it never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, issued instantly.
These are the actual underwriting fields, including a one-time consent to a soft credit pull. Submit once and your bond is issued when you pay.
Start the application →Common questions.
Other Virginia bonds.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
The Bureau of Insurance is waiting on one document.
$2,000 flat, short application, bond issued when you pay. Free until issued.