Existing law establishes various requirements relating to the sale of residential property in this State. (Chapters 111 and 113 of NRS) Section 1 of this bill prohibits certain investment companies from entering into an executory contract for the purchase of residential property that is listed for sale unless the property has been so listed for at least 30 days. Section 1 also makes a contract entered into in violation of this prohibition voidable by the seller at any time before the contract is fully executed.