1. (a) An owner of a fee simple or leasehold interest in real property who is party, as seller, in a wholesale transaction has the right to cancel an agreement of sale or contract that contains the information required under subsection (e) of this section until midnight of the twenty-first calendar day after the date when the consumer executed the agreement or contract, or until conveyance, whichever occurs first. An agreement of sale or contract for a wholesale transaction that does not contain the information required under subsection (e) of this section may be canceled at any time prior to conveyance. The right to cancel the agreement of sale or contract is not waivable.
2. (b) Notice of cancellation shall be given by certified return receipt mail or by any other bona fide means of delivery, including electronic delivery or personal delivery, provided that the consumer retains proof of sending. A notice of cancellation given by a bona fide means of delivery is effective on the date postmarked, the date of electronic transmission, the date of personal service, or on the date of deposit of the notice with any bona fide means of delivery.
3. (c) Within 10 business days after the receipt of a notice of cancellation, all payments of any kind made by the consumer must be refunded to the consumer and an acknowledgment that the agreement of sale or contract is void must be sent by the broker or salesperson to the consumer. In the event of a cancellation under this section, any promotional prizes, gifts, and premiums issued to the consumer remain the property of the consumer.
4. (d) A consumer who exercises the right of cancellation is not liable for any damages as a result of the exercise of that right.

5. (e) An agreement of sale or contract for a wholesale transaction shall prominently include the following information which shall be disclosed in the manner and method that the Commission shall establish by a form or forms approved by the Commission and which shall be available in English, Spanish, and Haitian Creole:

   1. (1) A statement that the agreement of sale or contract is for a wholesale transaction in which the licensee intends to assign, sell, or otherwise transfer the interest for a fee, commission, or other valuable monetary consideration without having taken title as the owner of record of the interest.
   2. (2) A statement that the consumer has the right to obtain an appraisal of the property from a real estate appraiser and to consult with a real estate licensee not affiliated with the wholesaler’s broker or to seek legal counsel from a Delaware lawyer before or after entering into the agreement or contract.
   3. (3) A statement that the consumer has the right to cancel the agreement or contract until midnight of the twenty-first calendar day after the date when the consumer executed the agreement or contract, which included the required disclosure form, or until conveyance, whichever occurs first, by certified return receipt mail or by any other bona fide means of delivery, including electronic delivery or personal delivery, provided that the consumer retains proof of sending.
   4. (4) A statement that within 10 business days after the receipt of a notice of cancellation, all payments of any kind made by the consumer shall be refunded to the consumer.

85 Del. Laws, c. 274, § 5