Certain investment firms would wait 45 days to sign home contracts

Covered investment firms would have to wait to enter a home purchase contract. It would cover listed single-family homes and corporations or trusts whose business is investing money pooled from investors in financial securities. The rule would cover contracts with obligations that still need to be carried out. A covered firm could enter the contract on or after the 45th day after the home is listed for sale.

Sellers would be allowed to cancel contracts that violate the waiting rule. This option would cover sellers who enter a purchase contract with a covered investment firm before the waiting period ends. Cancellation would be the seller's choice; a violation would not automatically cancel the contract. The seller could cancel at any time before the contract is fully carried out.