Ok thank you for the follow up. I wanted to verify this was not a new purchase.
There are 2 possible causes of action:
1. breach of contract, with a 4 year statute of limitations per Tex. Civ. Prac. & Rem. Code § 16.004(a)(3), (a)(4)
please see here
A party can be sued for breach of contract if they did not comply with the terms of the contract (did not deliver as promised). Every contract has an implied covenant of good faith and fair dealing.
2. fraudulent misrepresentation, or fraud in the inducement (misrepresentations made to get the buyer to sign the contract). This has a 4 year statute also: 16.004
The damages are the economic damages suffered by plaintiff, and the court can often award attorney fees and costs, to help restore plaintiff to the position s/he would have been in but for defendant's misconduct.
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Information provided is for educational purposes only. Consultation with a personal attorney is always recommended so your particular facts may be considered. Thank you and take care.