Yes, this applies to us too. The "check us out" box below runs this same checklist on Silverside Home Buyers, including what we can't show you yet.
Why vet a cash buyer at all?
Most cash buyers are legitimate. But a cash sale moves fast, the paperwork is unfamiliar, and some "buyers" are really middlemen who plan to sell your contract to someone else. Delaware now regulates that practice: under SB 201, a wholesaler must give you a written disclosure and you can cancel until midnight of the 21st day after signing. Pennsylvania and Maryland have their own rules. Spending 30 minutes on the checks below protects the biggest asset most families own.
What should you check before signing with a cash buyer?
Print this list and take it to every buyer you talk to.
- Is the business a real, registered entity? Search the company name in the Delaware Division of Corporations entity search. Then look at the name on the purchase agreement: it should match a real entity or a real person. A Delaware business also needs a state business license; you can look one up in the Division of Revenue business license search.
- Is there a named, reachable owner? You should know who you're dealing with, by name, with a local phone number that the owner or staff actually answers.
- Can you verify a track record? Read Google reviews (look for detail, not just stars), search the BBB for complaints, and ask for addresses of houses they bought and renovated that you can look up in county property records.
- Can they show proof of funds in the buyer's name? A recent bank or lender letter in the name that appears on your contract. A letter in someone else's name is a sign the contract may be assigned.
- Who will close? Get the name of the settlement attorney or title company and call that office yourself. Delaware sales close at a licensed Delaware settlement attorney; Maryland and Pennsylvania sales close at a licensed title company or settlement attorney.
- Will they take title in their own name, or assign the contract? Look for "and/or assigns" after the buyer's name. Ask in writing. If the buyer is a wholesaler, Delaware law requires the Real Estate Commission's disclosure form and gives you a 21-day cancel right; read our Delaware wholesaling law guide.
- How much earnest money, and when does it go hard? A tiny deposit plus a long "inspection" period with easy exits lets a buyer tie up your house at no risk.
- Do the numbers make sense? Ask how they got to their price. Compare it against what you'd net by listing with the cash vs. listing calculator, and against at least one other option on the comparison hub.
- Are there any up-front fees? There shouldn't be. Fees, if any, come off the settlement statement, which you can read before you sign.
- Will they let you get advice? A legitimate buyer won't object if you show the contract to your own attorney, an agent or a family member, or get an appraisal first.
What are the red flags in a cash offer?
- Pressure to sign today, or an offer that "expires" in hours.
- A request for money from you: an application fee, a "processing" fee, or a deposit.
- A request to sign a power of attorney, or a deed, outside a settlement office.
- A high verbal number that drops sharply after a late "inspection."
- No proof of funds, or proof of funds in another company's name.
- "And/or assigns" on the contract with no explanation, or strangers touring the house after you sign.
- Wire instructions that arrive by email only. Confirm any wire by calling the settlement office at a number you looked up yourself.
- In foreclosure: any deal that lets you "stay and buy it back later" without an attorney's review. Delaware's Mortgage Rescue Fraud Protection Act strictly regulates these; see our foreclosure guide.
What changes in Pennsylvania and Maryland?
| State | Law | What it means for you |
|---|---|---|
| Delaware | SB 201 (2026) | Wholesalers must give the Real Estate Commission disclosure form; you can cancel until midnight of the 21st calendar day after signing or until conveyance; wholesalers need a license from about February 26, 2027. |
| Pennsylvania | Act 52 of 2024 (effective Jan 4, 2025) | Wholesalers need a Pennsylvania real estate license, and sellers can cancel within 30 days of signing or before conveyance. Buyers who take title and resell are exempt. |
| Maryland | HB 124 / SB 160 of 2025 (effective Oct 1, 2025) | A buyer who may assign the contract must tell you in writing before you sign; if the notice is missing, you can rescind before closing. |
Selling in Chester, PA, Upper Darby, PA or Elkton, MD? The local state's rules apply.
Check us out: the checklist applied to Silverside Home Buyers
I'd rather you check than trust me. Here's where we stand on each point as of Oct 11, 2026, including the gaps.
| Check | Silverside Home Buyers |
|---|---|
| Business name | Silverside Home Buyers. You can look up any buyer, including us, in the Delaware Division of Corporations entity search. |
| Named owner | Paras Turakhia, Wilmington, DE, Salesianum School Class of 2001. About me · LinkedIn · (302) 525-0787 |
| Google reviews | We're early: one Google review as of Oct 11, 2026. Read it on Google Maps. We don't post testimonials we can't back up. |
| BBB | Not listed yet as of Oct 11, 2026. |
| Track record | Our renovation and rental projects, with Paras's role described precisely. |
| Proof of funds | We'll show proof of funds on request. |
| Who closes | Delaware sales close at a licensed Delaware settlement attorney; we work with settlement attorney EJ Farias. Maryland and Pennsylvania sales close at a licensed title company or settlement attorney. |
| Up-front fees | None. No commissions or fees to us. |
| The math | Every written offer shows the after-repair value, repairs, costs and our margin. If listing would net you more, I'll say so. |
Where do you report a problem buyer?
In Delaware, contact the Department of Justice Consumer Protection Unit. Complaints about a licensed agent or a wholesaler go to the Delaware Real Estate Commission. If you were sent fake wire instructions, call your bank immediately and file a report with the FBI's IC3.
Put us through the checklist
Call and ask me anything on this list. Then get a written offer with the math, and compare it with anyone else's.
Get My Written Offer Call (302) 525-0787Frequently asked questions
Are "we buy houses" companies legit?
Many are, but some are wholesalers who sell your contract to another investor, and a few are scams. Check the entity registration, reviews, proof of funds, who closes, and whether the contract can be assigned before you sign.
How do I look up a company in Delaware?
Search the name in the Delaware Division of Corporations entity search, and look up its state business license in the Division of Revenue business license search.
Should a cash buyer show proof of funds?
Yes. Ask for a recent bank or lender letter in the same name that appears on your purchase agreement.
What does "and/or assigns" mean in a contract?
It means the buyer can transfer the contract to someone else. Ask whether they plan to, and get the answer in writing. If they are a wholesaler, Delaware's SB 201 disclosure and 21-day cancel right apply.
Should I ever pay a cash buyer anything up front?
No. Any legitimate costs appear on the settlement statement at closing. A request for an up-front fee is a red flag.
Can I cancel a contract with a wholesaler in Delaware?
Yes. Under SB 201 you can cancel until midnight of the 21st calendar day after signing, or until conveyance, whichever comes first, and any time before conveyance if the required disclosures were missing.
Sources
- Delaware Division of Corporations entity search
- Delaware Division of Revenue business license search
- Delaware SB 201 bill detail
- DE Real Estate Commission wholesale disclosure form
- Pennsylvania Act 52 of 2024
- Maryland 2025 Chapter 508 (HB 124)
- Delaware DOJ Consumer Protection Unit
- Better Business Bureau search
General information, not legal, tax, or financial advice. Laws, fees, and schedules change. Confirm with the office named or your attorney.
