Prospective homebuyers
Effective August 27, 2026
Velvet Real Estate
In accordance with New York Real Property Law § 442-h, these procedures identify the prerequisites, if any, that prospective homebuyers must meet before receiving services from Velvet Real Estate. These procedures are applied uniformly and without discrimination.
Velvet Real Estate does not require a prospective homebuyer to provide photo identification before receiving services. A property owner, listing agent, managing agent, building, lender, attorney, or other third party may separately require identification for access, verification, or a transaction-related purpose.
Velvet Real Estate does not require a prospective homebuyer to sign an exclusive buyer representation agreement before receiving services. Under the rules of the listing services in which Velvet Real Estate participates, a written buyer representation agreement is required before a property is shown. That agreement need not be exclusive and may be limited in scope or duration. Compensation is not set by law and is fully negotiable.
Velvet Real Estate does not require mortgage preapproval before a prospective homebuyer receives services. A seller, listing agent, property owner, lender, or other third party may require a preapproval letter or proof of funds before a showing, offer, or other transaction step.
These procedures concern the prerequisites for receiving services from Velvet Real Estate. They do not prevent a property owner, seller, listing representative, financial institution, cooperative or condominium, managing agent, or another third party from imposing lawful requirements at a later stage. A copy of these procedures is available to the public upon request at Velvet Real Estate's office.
Questions may be directed to info@velvet.nyc or Velvet Real Estate, 108-14 72nd Ave, 2nd Floor, Forest Hills, NY 11375.