The notion of “buyer beware” is certainly recommended, but it’s not necessarily the law when it comes to commercial real estate transactions in Texas. If the seller of a commercial property purposefully conceals information about construction defects and other problems related to the property, the seller could be held liable for fraud, concealment and misrepresentation.
That said, it’s best to completely avoid becoming a victim of fraud and misrepresentation when selecting a piece of commercial property to buy by conducting a thorough examination of the property, and leaving no stone unturned when you do so. Here are some common defects you’ll want to look out for:
- Structural integrity problems: These issues may relate to masonry, concrete, carpentry and foundations. They can affect the structural stability of the building and be costly to repair.
- Electrical problems: An electrical problem could affect the fire safety of a building as well as the dependability of the building’s electrical systems.
- Water intrusion: Water intrusion can cause toxic mold to pervade an entire office building.
- Windows, glass and door problems: When construction is shoddy, the entire building could have problems relating to its windows, doors and glass. Perhaps glass windows are constantly breaking because too thin of glass was used in construction. Maybe the windows don’t open and close properly.
There are a lot more construction defects that could affect the durability, quality, appearance and safety of a newly-purchased building. If you bought a piece of commercial real estate and you didn’t know about various costly defects associated with it, you may want to research your legal rights and options to hold the seller accountable.