Perhaps you're starting a new business and need an office location for your employees. Perhaps you have an existing business and need to expand into a bigger store location.
The decision to enter the real estate market is never easy. There are so many things that can go wrong, especially when you are trying to purchase a piece of commercial property. There are various reasons to purchase a commercial property, including finding space for your business or to rent it to others for some income. Let's look at the considerations you need to make when buying commercial property in Texas.
The San Antonio International Airport is set to benefit from a $25 million redevelopment plan. A real estate firm from Colorado will carry out the project which will update the Hawker Beechcraft Services' aircraft maintenance area of the airport. The facility, which has been closed since 2012, is located off John Cape Road.
Commercial real estate mortgage lenders use loan-to-value ratios (or LTVs) to determine the value of the loan compared to how much a particular property costs. Lenders will calculate LTVs as a division of the loan amount over the purchase price or the property's appraisal value, whichever is smaller.
There are advantages and disadvantages to consider when deciding whether to lease or buy a piece of commercial property for your business. In this article, we'll examine the various conditions that -- when they exist -- you may want to consider going the route of leasing.
Before you purchase a piece of commercial real estate, you need to determine what you're going to do with the property and make sure that the property is zoned appropriately to serve its intended function. In fact, it's not unheard of for a commercial property investor to buy a building, but later find out that he or she can't use it due to improper zoning.
Imagine you negotiated the closing on your home purchase. An inspection revealed that there were various problems with the home -- but it did not reveal that it had a leaky roof. You signed a waiver to accept the problems and you purchased the home, only to discover several months later that the roof leaks like a colander.
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.
Texas commercial real estate investors might be individuals who want to invest in a property that they will rent out to business owners. They might also be businesses looking to purchase an office or store location. Regardless what kind of commercial real estate buyer you happen to be, when purchasing your first property, you could encounter various challenges.
When it comes to termites in a building, they can make or break a real estate deal. If you're in the market to purchase a new property, you definitely don't want to accidentally buy one with a termite problem.