summary
Introduced
01/08/2025
01/08/2025
In Committee
01/08/2025
01/08/2025
Crossed Over
Passed
Dead
04/24/2025
04/24/2025
Introduced Session
2025 Regular Session
Bill Summary
Home ownership. Provides that Indiana law regulating telephone sales calls applies to a telephone solicitation that: (1) is made by a telephone solicitor that is not a licensed real estate broker; and (2) communicates to a consumer: (A) an offer to purchase; (B) an offer to broker, or otherwise assist or act as an intermediary in, the sale of; or (C) an inquiry regarding the consumer's interest in selling; residential real property that was not publicly offered for sale, or advertised as being for sale, at any time during the 30 days preceding the date on which the telephone solicitation is made (unsolicited home purchase inquiries). Provides that a telephone solicitor that is not a licensed real estate broker may not make more than one unsolicited home purchase inquiry to the same consumer in a single calendar year. Provides that an investment firm may not enter into an executory contract for the purchase of a single family residence until not less than 90 days after the residence is listed for sale. Requires an investment firm to be represented by a licensed real estate broker who is not an employee of the investment firm or any of its subsidiaries to enter into an executory contract for the purchase of a single family residence. Makes a technical correction.
AI Summary
This bill introduces several significant changes to Indiana's regulations on telephone solicitations and home purchases. The legislation expands the definition of "telephone solicitation" to include unsolicited home purchase inquiries, specifically targeting calls from non-licensed real estate brokers seeking to buy residential properties that were not publicly listed or advertised in the previous 30 days. The bill limits telephone solicitors to making only one unsolicited home purchase inquiry to the same consumer per calendar year. Additionally, the bill imposes new restrictions on investment firms purchasing single-family residences, requiring them to wait at least 90 days after a property is listed for sale before entering into a purchase contract, and mandating that they be represented by a licensed real estate broker who is not an employee of the investment firm or its subsidiaries. The changes aim to protect consumers from aggressive or predatory home purchasing tactics by establishing clearer rules around unsolicited home purchase communications and investment firm property acquisitions, with the new provisions set to take effect on July 1, 2025.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
First reading: referred to Committee on Commerce, Small Business and Economic Development (on 01/08/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://iga.in.gov/legislative/2025/bills/house/1177/details |
| Fiscal Note #1: Introduced | https://iga.in.gov/pdf-documents/124/2025/house/bills/HB1177/fiscal-notes/HB1177.01.INTR.FN001.pdf |
| BillText | https://iga.in.gov/pdf-documents/124/2025/house/bills/HB1177/HB1177.01.INTR.pdf |
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