Establishing consumer protections for owners of solicited real estate.

House Bill 1081 establishes consumer protections for owners of real property who are actively solicited to sell their homes by a potential buyer, rather than listing it themselves. For transactions executed on or after January 1, 2026, these homeowners gain the right to an independent appraisal, paid for by the potential buyer, and the right to cancel the purchase contract without penalty. Owners can cancel within four business days of receiving an appraisal or within ten business days if they forgo an appraisal. Purchase contracts must clearly inform sellers of these appraisal and cancellation rights, which do not apply if both parties are represented by a real estate broker. Violations of these provisions are considered unfair or deceptive acts under the Consumer Protection Act.