Foreclosure purchases: Waiver of provisions and limitation of liability of licensee prohibited; mandatory arbitration voidable by homeowner.

1. A foreclosure purchaser shall not attempt to induce a homeowner to waive any of the provisions of NAC 645F.675 to 645F.690 , inclusive, or otherwise attempt to limit the liability of the foreclosure purchaser. Except as otherwise provided in this subsection, any waiver by a homeowner of the provisions of NAC 645F.675 to 645F.690 , inclusive, or limitation of liability, is void and unenforceable. A waiver of the right to cancel is not void and unenforceable if the residence is subject to a foreclosure sale within the 3 business days provided for cancellation in NAC 645F.690 and the homeowner agrees to waive the right to cancel in a handwritten statement signed by the homeowner. 2. Any provision in a contract which attempts or purports to require arbitration of any dispute arising under NAC 645F.675 to 645F.690 , inclusive, is voidable at the option of the homeowner.