10-1-393.19. Requirements of unsolicited inquiries relating to the sale of real estate; penalties.

Any unsolicited written inquiry or mailing by any person or entity that is not licensed or regulated pursuant to the provisions of Chapter 40 or Chapter 41 of Title 43 or Chapter 19 of Title 15 that expresses an interest in buying real property, or an option to buy real property, from the addressee or in buying the real property to which such written inquiry or mailing is addressed or that offers services relating to the sale of real estate shall include:#

1. (1)

   1. (A)

      At the top of and at least two inches apart from any other text on such written inquiry or mailing, the following notice in capital letters:#

      1. “THIS IS A SOLICITATION. THE SENDER IS CONTACTING YOU TO INQUIRE AS TO YOUR INTEREST IN SELLING YOUR HOME OR OTHER REAL ESTATE. YOU ARE UNDER NO OBLIGATION TO RESPOND.”

   2. (A.1)

      1. (i)

         If the solicitation includes a monetary offer, following the text required in subparagraph (A) of this paragraph, the following notice in capital letters:#

         1. “THIS OFFER MAY OR MAY NOT BE THE FAIR MARKET VALUE OF THE PROPERTY.”

      2. (ii)

         If the solicitation includes a monetary offer less than the value of the previous year’s assessed value for ad valorem taxation by the county tax assessor for the county in which the property is located, following the text required in subdivision (i) of this subparagraph, the following notice in capital letters:#

         1. “THIS OFFER IS LESS THAN THE COUNTY ASSESSED VALUE FOR THIS PROPERTY.”

   3. (B)

      No text contained in such solicitation shall be larger than the text required in subparagraph (A) of this paragraph.#

2. (2)

   On the front of the envelope or, if there is no envelope, on the part of the written inquiry or mailing that bears the postage stamp or postage amount, the following notice in capital letters:#

   1. “SOLICITATION. YOU ARE UNDER NO OBLIGATION TO OPEN OR TO RESPOND.”

3. (3)

   The notices required in paragraphs (1) and (2) of this subsection shall be:#

   1. (A)

      Of a font that is the same as the majority of the text of the written inquiry or mailing;#

   2. (B)

      Of a size which is no smaller than the text of the written inquiry or mailing, and in no event no smaller than 16 point font; and#

   3. (C)

      Displayed in a distinctly contrasting color.#

Failure to comply with the provisions of this Code section shall be considered an unfair or deceptive act or practice which is unlawful and shall therefore be punishable by the provisions of this part; provided, however, that, notwithstanding Code Section 10-1-399, a claim of a violation of this Code section may be brought in a representative capacity and may be the subject of a class action under Code Section 9-11-23; and provided, further, that damages for such violation shall be three times the actual damages sustained or $600.00 per violation, whichever is greater.#

Any person who violates the provisions of subsection (a) of this Code section shall be guilty of a misdemeanor.#