Commercial Real Estate in Texas
When you are buying commercial real estate in Texas, keep in mind Texas is not California. Texas is business friendly and while that may be good for you once you get started, when buying commercial property in Texas, don't count on Texas providing you with safeguards against unscrupulous commercial sellers.
In fact, you should arm yourself in the likely event that a seller may try and take advantage of the favorable legal environment in commercial real estate in Texas.
The Texas Supreme Court, the highest court in Texas, found that a seller who sold a building "AS IS" that was contaminated with asbestos would have no liability to the buyer. The court carved out a narrow exception to this rule where the seller could be held responsible in an "AS IS" only if the seller had particular knowledge of a condition or defect and actively concealed and hid the problem.
So what is the lesson for you if you are buying commercial real estate in Texas?
Hire every inspector you can find:
Or at least one that can do a comprehensive inspection and protect your interests.
And finally, never trust that a building or property is what it appears to be in Texas. It will be your fault if you fail to find the problems so get busy looking for them.