As used in this chapter, "unlicensed real estate solicitor" refers to a person that does not have a valid real estate license under IC 25-34.1-3 . The term does not include a:

1. (1) home builder;
2. (2) nonprofit organization exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code;
3. (3) governmental entity;
4. (4) person described under IC 25-34.1-3-2 (b); or

5. (5) person that:

   1. (A) inquires whether a home is available for purchase without presenting or entering into any agreement with the person that owns the home; or

   2. (B) offers to purchase a home, or purchases a home, with the intent to:

      1. (i) take title to the home and record the deed to the property; and
      2. (ii) use the home as a personal residence or as an investment.

As added by P.L.47-2024, SEC.3.