A cash offer can be the simplest way to sell a house that needs work, an inherited house, or a rental you’re done managing. It can also go sideways if the buyer can’t close, renegotiates at the last minute, or was never planning to buy the house at all. The good news is that checking out a buyer in Maryland takes about an hour, and most of the tools are free public records.
I’m Evan Weissman. I buy houses for cash through Real Estate Wanted, and I’m also a licensed Maryland agent (MD License #664574, eXp Realty, LLC). Here is the checklist I’d want my own parents to use, whether the buyer is me or anyone else.
Full disclosure on how we work: my partner Brian Fitzpatrick and I are both licensed agents, and we give sellers three choices. We can buy the house for cash, list it for you, or renovate and sell together, where the repairs get done first under a written agreement and the house then sells on the open market. A buyer worth trusting should be just as open about every option they offer.
Start with who is actually on the contract
Every cash offer names a buyer, usually a limited liability company. Write down the exact name and look it up on Maryland Business Express, the state’s business registration site run by the Department of Assessments and Taxation. You want to see an active entity in good standing, not one that was forfeited or formed last week under a name that keeps changing.
Then put a face to it. Ask who signs for the company and who will walk the house. A real buyer can tell you their name, a phone number that reaches them, and where they’ve bought before. If every call goes to a different person and nobody will commit to a name, treat that as information.
Check the license if they say they’re an agent
Plenty of cash buyers aren’t licensed, and that’s allowed when they’re buying for themselves. But if someone tells you they’re a licensed agent, you can confirm it in a minute through the Maryland Real Estate Commission’s license search on the Maryland Department of Labor website. Look for an active license and the brokerage it’s held under.
A licensed agent who buys your house for their own account has to tell you they’re licensed, and they don’t represent you in that deal. If they offer to list the house instead, that’s a separate agreement with a commission, and it should be in writing.
Ask whether they will assign the contract
This is the question that trips up the most sellers. Some “buyers” never intend to close. They put your house under contract, then sell the contract to someone else for a fee. That’s called wholesaling or assigning.
Maryland now has a law on it. Since October 1, 2025, Real Property Article 10-715 requires a wholesale buyer of an owner-occupied home to tell the owner in writing, before signing, that the contract may be assigned. If they skip that notice and then assign it, the owner can cancel the contract without penalty any time before closing.
So ask plainly: “Are you buying this house yourself, with your own funds, or might you assign the contract?” Then read the buyer line on the contract. Phrases like “and/or assigns” deserve a follow-up question. My article on assignment clauses versus a straight cash sale goes deeper.
Proof of funds and the deposit
A buyer paying cash should be able to show it. Ask for a recent bank or lender statement showing enough money to close, with the account number blacked out. A letter from a private lender is fine too, as long as you can verify the lender is real.
Look at the deposit as well. A meaningful earnest money deposit, held by the title company rather than by the buyer, shows the buyer has something at stake. A tiny deposit, or one the buyer holds themselves, makes it cheap for them to walk away.
Read the contingencies, not just the price
The number at the top of the offer means little if the contract lets the buyer walk for any reason. Look for:
- Inspection periods. A short one is normal. A long one, especially with vague language, gives the buyer a free option on your house.
- Approval clauses. “Subject to partner approval” or “subject to financing” means the cash may not be cash.
- Price adjustments after inspection. Some buyers win the contract with a high number, then cut it after a walk-through. Ask what repairs they already priced in.
If you want to understand the “as-is” part, read what as-is means with a cash buyer.
Pick a real title company, and check it
In a Maryland cash sale, the title company searches the title, holds the deposit, pays off your mortgage and liens, records the deed and sends your money. Title insurance producers in Maryland are licensed through the Maryland Insurance Administration, and you can check that license. You can also suggest a title company you already know. A buyer who refuses any title company but their own, or who wants funds wired somewhere other than through settlement, is a buyer to slow down with. More on how title works in a cash sale.
One more safety habit: before you or the title company wires anything, confirm instructions by calling a phone number you looked up yourself, not one from an email.
Look up their track record
Public records tell you a lot. MDLandRec, the state’s free online land records system, lets you search recorded deeds by name, so you can see whether the company has actually bought and sold houses. The Maryland Judiciary Case Search lets you look for lawsuits involving the company or the person behind it. Online reviews help, but read the low ones and look for patterns, like “they lowered the price at the last minute.” For a shorter list to keep by the phone, see my questions to ask a cash home buyer and how to spot a real cash buyer.
If you’re behind on payments, be extra careful
When an owner is in default or facing foreclosure, Maryland’s Protection of Homeowners in Foreclosure Act puts extra rules on people who offer to “save” the house or buy it and let you stay. Before you sign anything in that situation, call a free HUD-approved housing counselor. Maryland’s Department of Housing and Community Development lists them. My notes on options when you’re behind on the mortgage are a starting point.
Red flags in one place
- Pressure to sign the same day, or an offer that expires in hours
- No proof of funds, or a deposit held by the buyer
- A buyer who won’t say whether they’ll assign the contract
- Only their title company will do
- A high price with a long, vague inspection period
- Requests for an upfront fee from you
Compare the offer against listing
A good cash buyer will tell you when listing would net you more. Get at least one cash offer and one listing estimate, then compare what you’d walk away with after commissions, repairs, holding costs and time. My net sheet comparison shows how to lay that out.
How many cash offers should I get?
Two or three is plenty for most houses. More than that usually adds calls, not better information, as long as you check each buyer the same way.
Is it a bad sign if the buyer is an LLC?
No. Most investors buy through an LLC. What matters is that the company is active with the state, has a real person behind it and has bought houses before.
Can a cash buyer back out after signing?
It depends on the contract. During an inspection period, many can. After that, the deposit is usually at risk if they walk. Read the contingency language before you sign.
Should I have an attorney review a cash contract?
It’s a good idea, especially for an estate, a divorce or a house in foreclosure. A Maryland real estate attorney can review a contract for a modest fee compared with what’s at stake.
Talk through your situation
If you want a second opinion on a cash offer, or one of your own to compare, call or text me at (410) 498-7473. I’ll tell you what I’d look at either way.