What is the maximum amount a buyer can recover from the Indiana Real Estate recovery fund if they are defrauded by an unlicensed seller?

The correct answer is based on the provisions related to the Indiana Real Estate Recovery Fund, which is designed to provide compensation to individuals who have been harmed by the wrongful actions of licensed real estate professionals. However, when it comes to transactions involving unlicensed sellers, the fund is not applicable. This means that a buyer who is defrauded by an unlicensed seller cannot recover any amount from the recovery fund.

Therefore, the maximum amount recoverable in this scenario is indeed zero, as the fund only covers cases involving licensed individuals. The existence of the fund underscores the importance of dealing with licensed professionals in real estate transactions, as the protections provided by the fund are not extended to situations where the seller lacks the proper licensure.