All Forum Posts by: Peter Cook

Denice: THANK YOU, so much appreciated. This is exactly the information I was looking for. YES, this does help. A lot.

I will need to read through the materials available under the link, but (please excuse my temporary laziness as I'm asking this without reading that first): based on your comment only, do I understand correctly that if one is the owner living in the home (in the city of Buffalo) then he/she would not need to have a CO - therefore it is to be expected that such properties (sf, mf) would be sold without a CO?

Also, would you perchance know if this also applies to the township of Tonawanda, that has it's own building code? Upon reading the town's building code available online I've concluded that in Tonawanda the CO is required for sf and mf homes and rentals.

Hi Stewart; I share that concern. Thanks for the comment. From my experience, while one could get a certificate after buying a property, it is a risky and potentially expensive move. I'd just like to 'hear' from someone from Buffalo, who is familiar with both local practices and local laws, as I was surprised to see the clause placed in a document for which it was stated that it is a 'standard contract' - e.g. that part does not look like a 'standard practice' to me.

Hi;

I'm planing to buy a rental property in Buffalo, NY. I was shown a "standard" contract of sale, that contains a clause stating that the seller would not be required to provide a Certificate of Occupancy (CoO) if the property is a single family or a multiple family unit. Few people from the area told me that it is a standard practice not to require CoO on sale/purchase. My understanding of the town building code is that a CoO is required, and my understanding of the law in general is that CoO is a must for a rental property. I would appreciate if people with experience regarding rentals in Buffalo and surrounding area specifically (Tonawanda, Amherst) would share their understanding of the town code, sale/purchase practices and legal requirement in respect to a Certificate of Occupancy... Thanks!

Further, would the permits and CoO be listed on the paperwork that can be obtained in the Town's Building Department in Buffalo, or Tonawanda, or Amherst? Thanks again.

Hi;

I'm looking for the insurance for a 2-unit multifamily rental investment in Tonawanda, Bufallo, NY that I'm considering. Property value is around $100 TO $120K, not sure about the building replacement value. Firstly I'm looking to get some feel for how much to expect to pay for the commercial insurance (it would be an LLC); secondly, any recommendations for insurers or brokers for this area. Thanks!

Cheers

Peter

This thread is from 2011, not sure if anyone is 'listening', but in case someone does: is the 'publishing requirement' still true for a 'foreign' (out-of-state) LLC that intends to do business in New York State (such as buy a rental property)?

The only information on NY State's Department of State website that I could find is calling for an "Application of Authority" (From the site: A foreign business corporation may apply for authority to do business in the State of New York by filing an Application for Authority pursuant to Section 1304 of the Business Corporation Law.) with a fee of $225; I could not find a mention of any requirement that calls for publishing for a foreign corporation. The "Application of Authority" calls for a 'certificate of existence' that proves the entity actually exists in another state.

Thanks.